E-Commerce, International, Payment Methods

Why People Like Paying With Sofort

Apart from the globally known and used payment methods such as credit cards, Bitcoin, and PayPal, there is one more huge payment method that’s extremely popular in several European countries. Sofort by Klarna is very often the preferred way of payment for thousands of customers from Germany, Austria, Belgium, Holland, Poland, Spain, Switzerland and the United Kingdom. This bank-transfer payment method is offered by more than 25 000 online shops worldwide, and it accounts for over 4 million transactions per month. But what makes Sofort the right payment option, and why do people prefer clicking “Pay with Sofort” on the checkout page?

What is Sofort?

Sofort banking is one of the most popular and trusted payment methods that has been around for more than two decades. It’s one of the real-time online banking payment services, which means that all the transactions are concluded in a matter of seconds. This is also the most significant advantage of the payment option – it’s instant, as the shop or service provider has the funds on their bank account very quickly. The user does not even need to register in order to pay with Sofort and use this banking service; they only need an online bank account and online banking information.

What are the benefits?

As already mentioned, the biggest advantage of Sofort lies in its trustability. People all around Europe are very much familiar with this payment system that has been functioning without any problems for several decades now, which is one of the reasons why more and more people opt to try it out on a daily basis. Thanks to two-factor authentication, it’s one of the safest payment options (it’s even safer than paying with a credit card or eWallet). Another great advantage is the fact that, even though Sofort is connected to your bank account, the user doesn’t have to leave their bank account information on the checkout page. This makes the one-time payment very safe and secure, as no website will be able to access your bank account information. Moreover, we cannot fail to mention the fact that Sofort doesn’t let you spend more than you have on your bank account, so there are no additional costs to the customer. That being said, you can rest assured that all your information is being kept safe and secure, and the transaction is conducted in just a matter of seconds. Apart from that, the user can expect faster delivery of the ordered goods because the merchant receives the transaction very quickly, which means that the goods will be dispatched as soon as possible. 

So, let’s break down the advantages:

✓ It’s a method that has been around for quite some time

✓ It’s extremely safe for both the consumer and the merchant 

✓The user doesn’t have to leave their bank or credit card information

✓ There are no additional costs

✓ The payment is conducted within seconds

✓ Short waiting time on the arrival of ordered goods

✓ There is no registration

✓ There are no new registrations or passwords that the user has to memorize

How does the shopper flow work?

The shopper flow is rather simple, which is yet another advantage of this payment option:

  1. The first step is to choose Sofort as a preferred payment option on the desired website
  2. Upon choosing Sofort, the shopper is redirected to the online banking environment where they will select their country and their bank. 
  3. The shopper will receive a transaction authentication number via SMS or the code generated through a secure device (this depends on the bank) and enters it for final approval of the transaction.

How can it help your business?

In the sea of different alternative payment options, it’s essential to choose the one that will provide you with more website traffic and more purchases. The implementation of Sofort is rather easy, and it can do a lot for your business, especially in several European countries. Thinking about implementing not only Sofort, but plenty of other alternative payment methods is more important than ever – e-commerce is going to become even stronger than before, changing the way we have been shopping.

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