Worldpay, a UK-based payments processor, has collaborated with Swedish payments company Klarna to launch invoice and credit based payments across six markets in Europe.
The new capabilities will allow WorldPay users to decide when to pay for an item, and also manage their payment terms.
Customers will be allowed to choose from a range of payment options such as 14-day payment by invoice, fixed or flexible instalments, or spreading the cost over months.
Moreover, the new checkout experience will request customers for email address and postcode rather than asking about details about their credit or debit card. Klarna said that the new capabilities will enable WorldPay’s eCommerce businesses to boost conversion rates by up to 20% and offer a fast checkout.
The service will be available to Worldpay clients in the Netherlands, Norway, Sweden and the UK.
Worldpay global ecom chief product officer Dave Glaser said: “We believe that this solution will empower companies to see a real increase in sales, and chose to work with Klarna due to their unprecedented coverage in the Nordics and Europe. Knowing the excellent customer service they provide means our customers won’t be disappointed.”
Klarna chief commercial officer Michael Rouse added: “We are excited to be able to launch the latest in our credit and invoice based payment methods with a global leader like Worldpay, enabling eCommerce businesses to compete more effectively in key European markets.”