Open Banking Expo
Global payment network Klarna has integrated its bank-to-bank payment service Sofortüberweisung (Sofort) into Klarna Payments, citing increased security at checkout for both consumers and merchants.
The buy now, pay later provider entered the Open Banking arena with its acquisition of Germany-based Sofort in 2014.
Klarna has made the decision to consolidate the two services, meaning that the Sofortüberweisung function will be available as part of the Klarna ‘Pay Now’ product range from now on.
Sofortüberweisung has already been brought into the Klarna payment environment and launched across some of Klarna’s other markets globally, including the UK, earlier this year.
As a result, consumers can track their Sofortüberweisung payments within the Klarna app and make payments without having to re-enter their payment details, improving convenience and security.
The integration of the two payment services also provides increased protection, given that the Klarna user account uses two-factor authentication.
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