STOCKHOLM, April 4, 2019 /PRNewswire/ -- Klarna, a leading global payments provider, today announced the launch of its global authentication platform — an aggregator with multiple global and local authentication solutions. The platform allows multinational businesses, including merchants and other banks, to provide a simple, secure and personalised customer authentication experience irrespective of market, through a one-time integration.
Klarna has enabled millions of customers globally to shop securely without compromising their experience through an inhouse-developed customer authentication platform. This platform is now made available for other businesses. These businesses will benefit from an easy set-up giving them instant access to a wide range of global and local authentication methods to choose from, including SMS and email one-time-passwords, local alternatives like Swedish BankID, and Klarna's self-developed global identity solutions such as bank login.
The platform allows businesses to choose authentication methods best suited for their customers. It will also keep their customers' data safe, while remaining regulatory compliant, without adding unnecessary friction to the user experience. Once the authentication platform has been embedded on the site it will always be kept up-to-date as new authentication methods are automatically added without any extra work from the site owners' developers. Klarna controls and continuously optimises the user experience, so businesses can focus on continuing to develop their core operations.
Nir Aravot, Product Manager Customer Authentication Platform at Klarna, says: "At Klarna we have a relentless focus on the customer experience. Security is not an excuse for a poor experience, and we know that customers will simply not accept it. Offering an authentication platform that minimises the friction, offers a personalised experience and doesn't compromise the overall user flow, will not only benefit customers everywhere, but also provide a competitive advantage for businesses."
Klarna's customer authentication platform enables online businesses to:
- Use many different customer authentication solutions through one simple integration globally
- Personalise the customer authentication experience to each user
- Comply with PSD2 and KYC regulation without compromising their users' experience
- Increase engagement and decrease user acquisition costs
- Customise the experience to their brand easily
- Make their customers feel safe and secure shopping on their site
Leah Farmer, Vice President Product, Merchant Services, at Klarna, says: "Establishing trust online between business and customers is key for unlocking the potential of online commerce. Achieving that, without comprising the overall customer experience is a challenge for most businesses. With our customer authentication platform, we make it easy for businesses to establish this trust, comply with regulations, and tailor the experience to offer their customers a quick and safe way to identify themselves."
For more information, please visit https://www.klarna.com/uk/business/products/customer-authentication/
For more information:
Johanna Nyman, Senior Communications Manager
Klarna is one of Europe's leading payments providers and a newly-licensed bank, which wants to revolutionise the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, we give online consumers the option to pay now, pay later or over time – offering a simple, safe and smoooth checkout experience. Klarna now works with 100,000 merchants. Klarna has 2,000 employees and is active in 14 countries.
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Customer authentication flow
SOURCE Klarna Bank AB (publ)