News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

European Payment Providers Join Forces – Dec. 19, 2013

Swedish online payment provider Klarna yesterday said it has acquired popular German online payment provider SOFORT. The two companies, which will continue to offer e-commerce payments under their own brands in 14 countries, accept payments at more than 43,000 online merchants. Klarna is an online payment method serving mainly Scandinavia while SOFORT offers the same service in Germany, Austria and other European nations. The combined company will have 25 million users throughout Europe.

“SOFORT and Klarna supplement each other in our service offerings as well as in our growth ambitions,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna. “Together we are providing online merchants the opportunity to offer both popular payment methods out of one hand in Germany and to develop further product innovations. We also look forward to continuing to foster our position as an independent, banking-friendly payment solution.”

Financial details of the agreement have not been disclosed and the transaction is subject to approval by the Swedish Financial Supervisory Authority.

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Daniel Leibovitch