Compass Plus helps Klarna expand globally via TranzAxis

Tuesday 21 October 2014 14:20 CET | News

International provider of electronic payments software Compass Plus and Klarna have completed the implementation of the TranzAxis platform.

The TranzAxis platform will lay the foundation for the global expansion of Klarna, a Sweden-based online retail payments company. It will enable the online payment provider to utilise their own existing R&D capabilities to develop and launch new services. TranzAxis offers the payment provider a future-proof option for their system development.

Klarna offers payment solutions such as a one-click purchase option for a range of online storefronts across Europe and did USD 200 million in revenue in 2013. It has 15 million users and 15,000 merchants in Sweden, Norway, Denmark, Finland, Germany, the Netherlands and Austria. The company has raised USD 250 million in funding from investors including Sequoia Capital, DST and General Atlantic.

Compass Plus provides payments software and services that help financial institutions. Their customer base spans over retail banks, processing centres, national switches and personalisation centres in countries across Europe, Asia, Africa, the Middle East, North and South America.

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Keywords: Compass Plus, Klarna, TranzAxis, retail payments, electronic payments, online payments
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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