Digital River, Inc. (NASDAQ: DRIV), a leading global provider of Commerce-as-a-Service solutions, today announced it has entered into multiple payments agreements with Klarna, a Stockholm-based payment provider.
Through a partnership agreement, Digital River added Klarna Invoice to its portfolio of online payment options in Europe, including Austria, Denmark, Finland, Germany, Norway, Sweden and the Netherlands. As part of another agreement, Klarna is using the Digital River World Payments solution to process consumers' credit card and online bank transfer payments through Digital River's international payment gateway. In 2013, Digital River processed more than $30 billion in online transactions.
Klarna provides consumers a simple and safe way to make online purchases. With Klarna Invoice, consumers can buy items now and pay for them later by invoice or with flexible installments. This helps increase consumer buying power, especially for higher ticket items. When online merchants enable Klarna as a payment method, they get a significant improvement in their conversion rates.
"This new partnership presents multiple mutually beneficial opportunities," said Souheil Badran, Digital River World Payments' senior vice president and general manager. "By adding Klarna to our payments portfolio – which today supports over 190 international and local payment options – we can offer our clients even more alternatives designed to cater to buyer preferences and drive online sales conversions. By using Digital River's international payments gateway, Klarna can offer its customers convenient access to world-class payment processing services."
"By working with a global ecommerce 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.