Form3, the cloud-native account-to-account platform, announces 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.
In brief:
- 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.
- 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.
What does this mean?
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.
