How they describe themselves: SOFORT offers innovative products to ensure secure purchasing of goods and digital products on the internet. The company is part of the Klarna Group, Europe’s leading alternative online payments provider. With its product ‘SOFORT Banking,’ SOFORT is the market leader among the direct payment systems in Germany. Over 30,000 e-commerce shops handle more than 3M transactions with SOFORT Banking per month. Aside from Germany, the services can also be used in Austria, Switzerland, the Netherlands, Belgium, Poland, Hungary, Italy, Spain, France, and the United Kingdom.
How they describe their product/innovation: SOFORT Banking Paycode is an online link to the SOFORT payment form, which already contains all relevant information for the transfer. By using the link, the digital transfer form is filled in automatically and is ready for the transfer. You’ll find the Paycode on your invoice, which you receive from the merchant via email, mail or SMS. The Paycode can be entered either via the website of the merchant or at sofort.com. Alternatively, you can use the code link that leads you directly to our encrypted SOFORT Banking payment form. The transfer can then be carried out easily via SOFORT Banking.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms