News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

E-Commerce Platforms Integrate Payments, Attract Investment

E-Commerce Platforms Integrate Payments, Attract Investment

Popular e-commerce platform providers Big Commerce and Magento each made major announcements late last week.

New York City-based Magento said it has integrated with Swedish online payments company Klarna, enabling merchants to offer consumers more flexible online payment options. Klarna, which gained popularity in Europe as an alternative that enabled online payments from a bank account using only a postal code or email address to authenticate shoppers, has expanded into the U.S. mostly with an offering that lets consumers pay for online purchases in installments. According to Magento, Klarna will be a Core Bundled Extension for Magento merchants enabling them to offer customers the ability to pay immediately via direct debit, within 30 days via invoice or in periodic installments without a credit card.

Separately, Austin, Texas-based Big Commerce announced it has raised $64 million it hopes to use to accelerate its business in Europe. The Series F funding round was led by Goldman Sachs, with participation from General Catalyst, GGV Capital and Tenaya Capital. Big Commerce has raised more than $200 million since its launch in 2009.

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