Digital River, the worldwide leader in Commerce-as-a-Service solutions, inked multiple online payment agreements with Klarna, a payments technology provider based out of Stockholm. In of the the agreement, Digital River added Klarna Invoice to its broad portfolio of online payment services in key markets of Europe such as Finland, Denmark, Germany, Norway and Sweden among others. In another agreement, Klarna will get access to Digital River’s World Payment Solutions to process the credit cards and online bank transfers via Digital River’s payment gateway.
Last year, Digital River processed about $30 bn in online transactions. The company has more than 20 years of experience in the e-commerce space and is recognized globally as a leader in the commerce services space. Companies across different industries and of all sizes trust Digital River and use its SaaS, payments and marketing services.
Klarna is known for its simple and secure services for online buying. The company was founded in 2005 with headquarters in Stockholm. The company serves more than 45,000 merchants across Europe. Klarna is also a popular payment method that continues to grow rapidly in popularity among consumers and merchants. The core functionality offered by Klarna is invoicing, where Klarna guarantees the payment to the merchant. Klarna Invoice allows customers to buy items now and pay for them later by invoice or through installments. It enhances the buying power of the customer, especially when buying high value goods. For merchants, the Klarna payment method gives them significantly higher conversion rates.
The partnership, according to a senior spokesperson from Digital River World Payments, will present many mutually beneficial opportunities. Digital River supports over 190 international and local payment options and by adding Klarna, it will offer its clients even more alternatives, designed to meet the buyer preferences and improve sales conversions in the online channel. At the same time, by using Digital River’s payment gateway, Klarna can offer the customers easy access to world class services.
By enabling Klarna through Digital River World Payments, retailers will not only be able to enjoy easy product integration, but will also get the same reporting and administrative tools that are part of the standard reporting structure used for other Digital River supported payment methods.
This move is also a part of Klarna’s stategy to extend services to the U.S. and other markets.
“By working with a global e-commerce and payments leader like Digital River, we have a single integration and point of contact that can support our continued geographic expansion. This integration enables us to speed our time to market as we continue to grow our business,” said Max Emilson, director of Global Partner Solutions at Klarna.