Global payment network and shopping assistant Klarna has integrated Sofortüberweisung into its Klarna Payments services.

Sofortüberweisung is an online-banking based payment method from direct payment system specialist Sofort for cashless payments on the internet.

Sofort was founded in 2005 and has been part of the Klarna since 2014.

Klarna has now consolidated the two services, with the Sofortüberweisung function becoming available as part of the Klarna ‘Pay Now’ product offering.

With the move, the firm aims to increase the security of the checkout process for both consumers and merchants whilst improving user-friendliness.

As a result, consumers will be able to track their Sofortüberweisung payments within the Klarna app and complete payments without having to re-enter their payment details.

The integration of Sofortüberweisung aims to provide greater protection, as the Klarna user account will be supplied with two-factor authentication as an extra security method.

To benefit from these functionalities, customers will have to create a Klarna account.

According to the payment network, 95 per cent of Sofort customers have already taken this path.

David Sykes, chief commercial officer highlighted how the integration aims to offer consumers and merchants “the best of both worlds” - combining the Sofort payment process with Klarna’s secure payment experience and global reach.

“The combined product is better for merchants and consumers, and also a platform for Klarna to expand the functionality of Sofortüberweisung globally,” he said.

The integration has resulted in a five per cent increase in the conversion rate for consumers who use Sofortüberweisung, according to the firm.

Consumers in Germany will continue to see the name "Sofortüberweisung" during their payment process.

Klarna has previously enabled the Sofortüberweisung bank-to-bank payment service into the Klarna payment environment, launching it across some of Klarna’s other markets globally, including the UK.

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