Form3 to provide SEPA Instant, Credit Transfer and Direct Debit connectivity for Klarna’s 150m active customers across more than 500,000 merchants.
Form3, the cloud-native account-to-account platform, is delighted to announce it will be providing Klarna, the AI-powered payments network and shopping assistant, with SEPA connectivity to bolster its customer offering in Europe as part of its wider international growth strategy.
The new agreement sees Form3 providing Klarna with direct technical access to STEP2 and RT1 via its cloud-based, single API account-to-account platform. This will enable Klarna to process these payments directly rather than being dependent on third party banks. The addition of SEPA Instant as a payment flow will also create new payment use cases and ensure that Klarna stays ahead of the incoming mandate*.
Mike Walters, Form3’s CEO, says: “Providing SEPA connectivity to Klarna, one of the biggest, most technically-advanced fintechs in the world, further demonstrates Form3’s ability to process payments at scale, as this becomes critical for market leaders. This partnership also reinforces the ongoing trend in Europe for more organisations to connect directly to payment schemes to improve resilience and their end customers’ experience.”
Form3’s platform will process and manage all of Klarna’s inbound and outbound SEPA payments across these schemes and fully automate some of the manual payment processes typical to many banks, such as returns, recalls and refunds. This will drive efficiency gains and significant cost savings. In addition, Form3’s technology is designed to future-proof Klarna against regulatory changes such as the Digital Operational Resilience Act (DORA).
Felix Würtenberger, Head of Banking at Klarna, comments: “We are grateful for the opportunity to collaborate with Form3 and utilize their SEPA connectivity to enhance our customer offering in Europe. This partnership holds the potential to drive efficiency gains, cost savings, and ultimately improve the overall experience for our customers and merchants in Europe. We enthusiastically embark on this transformative journey with Form3, exploring the immense benefits it brings.”
* The European Commission (EC) published a proposal in October with the aim to require banks and other payment service providers (PSPs) to offer 24/7 instant Euro payment services without charging customers an additional fee.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
