Klarna, the AI-powered global payment network and shopping assistant, has officially announced the merger of Sofortüberweisung into its service umbrella.
This integration sees the Sofortüberweisung feature becoming a part of Klarna’s Pay Now offerings, aimed at enhancing the security and user-friendliness of the checkout process for both consumers and merchants. Notably, consumers in Germany will continue to encounter the Sofortüberweisung name during their payment process.
This strategic move allows consumers to track their Sofortüberweisung transactions directly within the Klarna app, facilitating payments without the need to re-enter payment details. This upgrade not only elevates user convenience but also bolsters the security of transactions. By incorporating Sofortüberweisung into the Klarna payment ecosystem, the company provides a seamless, secure payment procedure, thereby elevating trust and protection levels among its users. To access these enhanced features, consumers are now required to set up a Klarna account, with 95% of Sofort customers having already migrated.
David Sykes, Chief Commercial Officer of Klarna, elaborated on the integration, stating, “We are integrating Sofortüberweisung into the Klarna environment to offer consumers and merchants the best of both worlds: the familiar Sofort payment process combined with the smoother, more secure payment experience and global reach of Klarna. The combined product is better for merchants and consumers, and also a platform for Klarna to expand the functionality of Sofortüberweisung globally.”
This integration has already shown its value by boosting the conversion rate by 5% among consumers using the integrated Sofortüberweisung service. Furthermore, the expansion of the Sofortüberweisung bank-to-bank payment service into Klarna’s payment suite has been initiated across several of Klarna’s markets globally, including the UK earlier this year.
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