The future of online payment solutions
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Magnus Fredin, President of Sales Klarna Webwinkel Vakdagen 2012
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The future of online payment solutions
- 2. Fyra steg till en bättre betalprocess 2012-01-25 2
- 4. History of payments online 1949 1995 2008 2012-01-25 4
- 5. Company facts • Market leader in Europe for invoicing solutions • Turnover of EUR 80 million in 2011 • Profitable since first year • 600 employees – 100% specialised on e-commerce/ payments • More than 15,000 affiliated stores • 6 Countries 2012-01-25 5
- 6. Owners • Owned by the founders, Sequoia, Öresund and personnel Michael Moritz Klaus Hommels Ex-board Angel Investor: - Google - Xing - YouTube - QXL - PayPal - Skype - Sequoia Capital - Spotify - Facebook DST GLOBAL - Facebook - Facebook - Privalia - Twitter - Alibaba Group - Spotify - 360BUY 2012-01-25 6
- 7. How do you pay online? IDEAL 84% Per invoice (accept giro) 55% Creditcard 48% Single cheque (Eenmalige 46% incasso) Manual money transfer before 38% delivery Paypal or other e-wallet 29% Cash on delivery 15% Dont know 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2012-01-25 7
- 8. Reason for not shopping online? Befor buying, I want to hold the 26% product in my handstest it I rather shop in normal stores 23% I am worried about the safety of 8% the online payment procedure. I don`t want to disclose personal 1% data online Dont know 7% Others. 35% 0% 5% 10% 15% 20% 25% 30% 35% 40% 2012-01-25 8
- 9. What is payments all about? Consumer • Safe • Simple • Fast Merchant 2012-01-25 9
- 10. Are we there? 2012-01-25 10
- 11. Nelly.NL 2012-01-25 11
- 12. Product page 2012-01-25 12
- 13. Checkout 2012-01-25 13
- 14. Checkout 2012-01-25 14
- 15. Pay with card 2012-01-25 15
- 16. 2012-01-25 16
- 17. Pay by card 2012-01-25 17
- 18. Buy now!
- 21. Card number Press order is saved now!
- 22. Customer Issuing bank Credit scoring Payment Stack E-wallets Tech Standard brand Payment gateways Fraud prevention Acquirer Merchant 2012-01-25 22
- 23. How about risk? • Assess the risk of transactions based on minimum amount of data • Continuously reduce the amount of data we demand from the users • Collect behavioral data of users • Shops 3 o clock during the day VS. 3 o clock at night • First generation – based on scoring companies • Second generation – decision trees • Third generation – internal behavior scoring • Fourth generation – machine learning, continuously adapting to changes • Maximize acceptance rates 2012-01-25 23
- 25. Buying should be like this: 2012-01-25 25
- 26. 2012-01-25 26
- 27. Paying should be like this: 2012-01-25 27
- 28. 2012-01-25 28
- 29. VS 2012-01-25 29
- 31. Choose Invoice !
- 32. 2012-01-25 32
- 33. 2012-01-25 33
- 34. 2012-01-25 34
- 35. The world´s easiest mobile checkout! Press BUY! 2012-01-25 35
- 36. Press BUY! 2012-01-25 36
- 37. Address! Back to store! 2012-01-25 37
- 38. Bedankt!
Editor's Notes
- Usually when you talk about payments you can picture a audience like this one on the prictures. Payment are usually not sexy but it is what you make it.My Name is Magnus Fredin and I have been working with payments online for 8 years and at Klarna- more or less since the company started.I am now responsible for Sales world wide.
- If we look back on a brief picture of payments and what have happend the last 50 years.IT started out with OTTO and they introduced invoice fairly quickly.If then start to look at Amazon 95 and Paypal that was founded at 1998 not that much have happend from the consumers point of view. Direct banks paymens is one of the larger inventions. Klarnas is new but invoice is old and it´s about make a existing solutions easier and smarter and more modern.We can now also see Paypal and Google wallet runing for POS with their wallet but what most of these companies has in common ( not all) is that they belong to a existing infrastructure.
- We have a pretty impressive board, MoritzKlaus HommelsGADst- Yuri Miller
- So enough bragging and let´s get to the point.What is payment all about?For me is on high level it is a way of trade. It´s about make trade as simple, as safe, fast and convenient as possible at least from buying perspective.From a sales perspective you problably share the same view and you to want break barriers for they buyer.Then you want it to be suited to your processes, eays to maintain, risk free and last but most important you want it to be profitable.
- So enough bragging and let´s get to the point.What is payment all about?For me is on high level it is a way of trade. It´s about make trade as simple, as safe, fast and convenient as possible at least from buying perspective.From a sales perspective you problably share the same view and you to want break barriers for they buyer.Then you want it to be suited to your processes, eays to maintain, risk free and last but most important you want it to be profitable.
- So enough bragging and let´s get to the point.What is payment all about?For me is on high level it is a way of trade. It´s about make trade as simple, as safe, fast and convenient as possible at least from buying perspective.From a sales perspective you problably share the same view and you to want break barriers for they buyer.Then you want it to be suited to your processes, eays to maintain, risk free and last but most important you want it to be profitable.
- The question is are we there? Have we come to a point were we can say that we have fulfil all this.From my point of view we have reached a ok level and it´s working but I don´think we have reached the goal with payments online yet.
- Describe a regular card purchase.
- We have the usual forms that need´s to be filled in.
- Fill in the card number.3d secure or bank box.
- This is want klarna but without the registrerings process
- They are in the payment stack.Nothing is wrong with that but I beleive that decrease invention creativity and yiou try to build solutions on the payment stack and as long as you try do that i think it will be hard revolutionize payments. You can build great solutions and some how everybody is depended to certain point of the stack but the less independet you are the more you can revolutionize payments. It´s harder because you need to be an expert on more then one area, today we have one supplier that is an expert within fraud or gateway, but if you can be good at many of these areas I think you achieve great things.And also each on these will ofcourse have a piece of the cake.