Klarna, a global bank and payments solutions provider, this month introduced a worldwide customer authentication platform for businesses. The platform, developed in-house, had been used for Klarna’s own customers but will now be available for use by multinational businesses.
With brands and retailers selling to global audiences and reaching new markets, it has become more important to have a smooth and universal checkout process. But with distinct protocols required for different countries, that can be difficult to achieve. Klarna’s platform is designed to comply with several international security standards for identity authentication while still providing an easy user experience.
“Security is not an excuse for a poor experience, and we know that customers will simply not accept it,” said Nir Aravot, product manager for the customer authentication platform at Klarna. “Offering an authentication platform that minimizes friction, offers a personalized experience and doesn’t compromise the overall user flow will not only benefit customers everywhere but it will also provide a competitive advantage for businesses.”
Watch on FN
The Klarna platform enables businesses to choose from a range of global and local authentication methods so that they can find one that works best for their customer. Whether using SMS verification or emailed one-time passwords, brands and retailers can verify their customers’ identities with minimal interruption to the consumer’s shopping journey.
This product launch comes as concerns over data security and information protection are reaching critical levels. Offering an experience that can help foster trust between consumer and brand is valuable for retaining customers and driving repeat purchases. However, the security needs to feel effortless; otherwise, the additional verification measures could lead to cart abandonment.
“Establishing trust online between business and customer is key for unlocking the potential of online commerce,” said Leah Farmer, VP of product and merchant services at Klarna. “Achieving that without comprising the overall customer experience is a challenge for most businesses. With our customer authentication platform, businesses can establish trust, comply with regulations and tailor the experience to the customer.”
Want more?
Shopify Targets High-Growth Merchants Through Partnership with Klarna
This Is How Retailers Appeal to Millennials — They’re Offering More Payment Options
How Shoppers Want Retailers to Respond to Data Breaches
