Viva Wallet partners with Klarna

Viva Wallet has partnered with Klarna to help merchants meet the needs of a new generation of shoppers demanding more flexible payment alternatives

Viva Wallet has partnered with Klarna to help merchants meet the needs of a new generation of shoppers demanding more flexible payment alternatives. Viva Wallet is a European cloud-based neobank, with presence in 24 markets.

Its mission is to change the way businesses pay and get paid, offering localized, end-to-end digital payments solutions and embedded banking services tailored to their needs. Pay in 3, Pay in 30 Days, Pay Now, or opt for Financing to pay over 3-36 months in a smooth one-click purchase; Klarna’s payments offering is now added to the collection of over 30 payment options delivered by Viva Wallet, featuring all major international as well as local payment schemes to accommodate all transactions. ‘Pay with Klarna’ will be available to those interacting with the online and brick-and-mortar touchpoints, supported by Viva Wallet POS app that turns any Android mobile into a card terminal, and Smart Checkout payment gateway for e-shops, allowing consumers to pay when and how they prefer to, saving time and money.

‘Pay with Klarna’ on Viva Wallet payment platforms will be first rolled out in selected European markets, including Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Portugal, Spain, Sweden, and the UK. What’s new with Viva Wallet? In January 2022, JP Morgan acquired an ownership stake of approximately 49% of Viva wallet. Financial terms of the transaction were not disclosed.

Since then, the neobank has enabled merchants across Europe to accept Discover, Diners Club, and network alliance cards. Cards that run on Discover Global Network are now accepted in mobile devices with the Viva Wallet POS app, card terminals, as well as in Smart Checkout, Viva Wallet's payment gateway for e-shops. Finally, in September 2022, Viva Wallet enabled their French merchant network to accept CB payments made with 74 million CB cards.

Viva Wallet currently supports over 30 currencies, offering flexibility to the thousands of French merchants of their network, as well as to the nearly 74 million CB cardholders. Through the partnership, payments with CB cards are accepted across local physical points of sale featuring the innovative Tap-on-Phone Viva Wallet POS app, followed by roll-out in online points of sale. Partnerships with Buy Now, Pay Later providers Over the past few years, the Buy Now, Pay Later (BNPL) market has grown significantly – a report released earlier in 2022 projected BNPL to account for 9% of all North American ecommerce transactions and 12% of all European ecommerce transactions by 2025.

Further, parts of the global BNPL landscape have started to show signs of maturation with the development of vertical-specific BNPL offerings, the acquisition of smaller BNPL players by those with greater market share, and the increasing popularity of white-labelled BNPL solutions by some retailers. Sheridan Trent, Senior Research Analyst at TSG (The Strawhecker Group), explains that the user-friendliness of some BNPL offerings and how they combine with consumers’ phones as shopping apps or add-ons to digital wallets they may already be using is a differentiator. BNPL apps can approve a consumer for use in seconds, typically require only basic personal details, and are often already well-integrated into consumers’ online shopping ecosystems.

To find more about Viva Wallet, check their profile in our company database. To find more about Klarna, check their profile in our company database. .

Nov 14, 2022 13:36
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