Digital River Strikes Deal With Swedish Payment Provider
Minneapolis-based Digital River, Inc., announced plans Monday to participate in a wider range of payment offerings with Klarna, a Stockholm-based payment provider.
“It’s part of our normal business to engage in partnerships like this to better cater to companies,” said Maryna Frolova, a Digital River spokeswoman.
Instead of paying with cash, checks or credit cards, Digital River consumers can use a mobile device to pay for a wide variety of services and digital or durable goods.
The partnership agreement will allow Digital River, a global provider of ecommerce, payment and marketing services, to add Klarna Invoice to its online payment options throughout Europe. Klarna supports over 190 international and local payment options, according to a news release.
“This benefits U.S.-based companies with global operations mostly in Europe,” Frolova said.
Klarna Invoice will allow clients of Digital River to invoice consumers or offer flexible installment plans.
“By adding Klarna to our payments portfolio we can offer our clients even more alternatives designed to cater to buyer preferences and drive online sales conversions,” Digital River Senior Vice President Souheil Badran said in a statement.
With Klarna as a payment option for Digital River, the company said it expected increased consumer buying power given the “buy now, pay later” preferences of Europeans. In 2013, Digital River processed more than $30 billion in online transactions.
As a part of the same agreement, Klarna will use Digital River’s international payment gateway to process consumers’ credit card and online bank transfer payments. This will allow Klarna to accept credit cards and alternate payments across all sales channels, including mobile devices and the web.
“By using Digital River’s international payments gateway, Klarna can offer its customers convenient access to world-class payment processing services,” Badran said. “This new partnership presents multiple mutually beneficial opportunities.” Additional terms of the deal were not disclosed.