As earlier communicated in August this year, Westpay AB, a leading Fintech company, and Klarna AB, a leading global retail bank, payments, and shopping service, have signed an agreement aiming to expand the reach and footprint of Klarna’s payment services. As part of this cooperation, Westpay has integrated Klarna’s payment offerings, making them an integral part of Westpay’s Swipe2Pay technology. The first transactions were just successfully made, making Klarna a natural choice for Westpay’s merchants and POS Partners, parallel to other payment methods.
With Swipe2Pay, Westpay has a unique technology platform that allows, on-going, new alternative payment methods next to traditional card-present payments. In addition, to strengthen the value of Westpay’s and Klarna’s offerings to merchants and consumers, this collaboration will also add transaction revenue to Westpay.
– I am pleased that we managed to, together with Klarna, implement and successfully launch this before the end of the year. It proves the strength and simplicity to enable alternative payment methods with our Swipe2Pay technology. I am looking forward to expanding our technology even further as we enter 2022, says Tomas Nilsson, CTO at Westpay.
Klarna is the leading global payments and shopping service, providing smarter and more flexible shopping and purchase experiences to 90 million active consumers across more than 250,000 merchants in 17 countries.
Several factors affect total future potential transaction revenues, such as average user adoption, transaction values and volume of transactions. These factors are highly uncertain and prevent us, at this early stage, from predicting future revenue. This collaboration is not associated with any major costs for Westpay.