Klarna and PPRO team up for credit payments in Europe
PPRO Group, the leading cross-border e-payment specialists and Klarna, one of Europe’s largest banks, will partner to enable Payment Service Providers (PSPs) to offer credit-based payments through PPRO’s payment hub to European merchants, risk-free.
This will allow eCommerce businesses to improve conversion rates and provide a fast and smooth checkout process.
The partnership will be marketed to PPRO’s PSP customer base and will provide access to Klarna’s services and consumers across Sweden, Norway, Finland, Denmark, the Netherlands, Germany, Austria, and the United Kingdom.
By settling the payment to the retailer upfront, following credit risk assessment, Klarna assumes 100% of the risk, giving merchants peace of mind. This will enable PPRO’s PSP customers to easily facilitate retailer and customer demands for popular credit payment methods all through PPRO’s ‘one contract, one settlement and one integration’ proposition.
These new payment options will allow consumers to decide when to pay for the items once they have received their goods. Instead of a request for credit or debit card details at the point of checkout, consumers are prompted for their email address and postcode, ensuring a quicker checkout process and leading to lower cart abandonment. The solution allows consumers to manage the terms of their payment, be it 14-day payment by invoice, by fixed or flexible instalments, spreading the cost over several months.
“We’re really pleased to add Klarna to our growing portfolio of 140 payment methods we already have on offer,” states Jack Ehlers, Director of Payment Partnerships at PPRO Group. “Its flexible credit and financing option brings enormous benefit to buyers who want more control over payments and to merchants who want to increase sales and confidence in getting paid.”
Michael Rouse, Chief International Commercial Officer of Klarna said: “We are excited to be able to launch the latest in our credit and invoice based payment methods with a global leader like PPRO, enabling eCommerce businesses to compete more effectively in key European markets. We offer more flexibility in how to manage payments for products and services. It’s a win/win scenario.”