PPRO Group and Klarna partner to offer risk-free credit payment methods across Europe
London-Stockholm 15 November 2017 – 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.”
About PPRO Group
Cross-border e-payment specialist, PPRO Group, (PPRO) removes the complexity of international e-commerce payments by acquiring, collecting and processing an extensive range of alternative payments methods for Payment Service Providers (PSPs) under one contract, through one platform and one single integration. PPRO supports international payment methods across more than 100 countries, allowing PSPs to expand their merchants’ e-commerce reach, arrange hassle-free collection and achieve higher conversion rates.
PPRO also issues Visa and MasterCard consumer prepaid cards, under its own brand name VIABUY, and enables B2B prepaid cards, under its CROSSCARD and FLEETMONEY brands, which can be issued both physically and as virtual cards or NFC devices (as stickers).
Founded in 2006 and headquartered in London, PPRO is an EU-certified financial institute with an e-money license issued by the British regulatory body FCA. For more information, please visit www.ppro.com.
Klarna is one of Europe’s leading payments providers and a newly-licensed bank, which wants to revolutionise the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, we give online consumers the option to pay now, pay later or over time - offering a simple, safe and smooth checkout experience. Klarna now works with 70,000 merchants to offer solutions to more than 60 million of users in Europe and North America. Klarna has 1,700 employees and is active in 18 countries.
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