December 12, 2017
Paying via invoice and using installment payments for online purchases are much more common in e-commerce markets outside the U.S. Global e-commerce acquirer and processor Worldpay late last week partnered with a company that will help bring both services to its customers in six European countries, notably Germany and the U.K.
Worldpay merchants in those countries (along with Austria, Finland, the Netherlands, Norway and Sweden now can leverage Klarna to offer consumers invoice and credit-based payments for e-commerce purchases. The online payments provider based in Sweden made its name enabling consumers to authenticate online orders using only a postal code or email address but lately has focused on its solutions that offer instant credit to online consumers. The companies claim the payment alternatives will increase conversion by 20 percent.
“Retail is a competitive sector so we’re seeing increased demand from customers wishing to create more reasons to shop with them over their competitors,” said Dave Glaser, chief product officer for Global eCom at Worldpay. “For some, payment by credit card is seen as risky, and old fashioned, so being able to adapt to new and local payment preferences is a way to rectify this. We believe that this solution will empower companies to see a real increase in sales, and chose to work with Klarna due to their unprecedented coverage in the Nordics and Europe.”