PPRO Partners with Klarna to Expand Credit Payments in Europe

European bank Klarna is teaming up with digital cross-border payments service PPRO Group to offer expanded credit-based payments to European merchants, the companies announced today in a press release.

The partnership will allow payment service providers to process credit payments via PPRO’s platform to merchants, reducing risk, according to the announcement. It will also allow more access to Klarna customers, across countries including the United Kingdom, the Netherlands, Germany, Austria, and Sweden.

Klarna will assume “100% of the risk, giving merchants peace of mind,” according to the press release. Consumers will also have more freedom of choice when it comes to payments, the companies said.

Klarna and PPRO said in the press release:

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.

Read more at Klarna and PYMNTs.