Klarna Bank has unveiled its new free of charge peer-to-peer payment service, which will allow customers to send and request money in a secure and quick way.
Wavy allows consumers from across 31 European markets to transfer money and split bills among friends, colleagues and family members.
Users will be able to connect their bank accounts or credit cards to Wavy and generate a payment link when they want to initiate a transfer and this link can be shared either via existing social media channels or directly to a Wavy user.
The launch comes not long after Klarna secured a banking licence from the Swedish Financial Supervisory Authority.
“We can offer our users the most accessible peer-to-peer payment service in Europe,” said Lamine Cheloufi, co-founder of the Cookies App and now product director at Klarna.
“Everybody can use Wavy to transact anywhere, at any time and in real time.
“The recipient of the payment receives a payment link via any social media channel and can redeem the payment without having to sign up to the service."
Payment requests can be paid by using EU-issued credit cards or SOFORT Uberweisung and are settled in real time with Wavy using 3D animated stickers to illustrate the payment purpose.
Sebastian Siemiatkowski, CEO of Klarna (pictured above), said the work of the Cookies team had impressed him so much that he wanted to work with them.
“Since then, within Klarna we have been working to develop a product that truly reflects how people live today and their social interactions.
“There are no borders in an online context, why should there be in payments?
“Klarna was founded with the goal to make online payments safe, simple and smooth, Wavy is another step on that journey.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Tandem secures £15m investment for Hong Kong expansion
Tandem has secured £15m of funding from Hong Kong-based financial services group Convoy Global Holdings...
BBB appoints network director for devolved nations
The British Business Bank (BBB) has appointed Jennifer Donnellan to the new position of UK network director for devolved nations...
CYBG reports 5.6% SME lending rise
CYBG PLC has announced in its preliminary results that it has provided £7.2bn in SME lending during the year ended 30th September 2018...
Xero announces five fintech integrations
Xero has announced five major fintech integrations with Tide, Starling, TransferWise, Revolut and Soldo...
OakNorth plans to lend £3bn to UK SMEs in 2019
OakNorth has revealed that it plans to lend a further £3bn to UK SMEs in 2019...
Paragon BTL lending pipeline up 28.9%
Paragon Banking Group PLC has reported a 28.9% increase in its BTL lending pipeline for the year ended 30th September 2018...
George Osborne optimistic that Open Banking will be ‘dramatic’ to industry
George Osborne has claimed that the big banks won’t necessarily look to move more quickly towards Open Banking as it represented a competitive threat to them...
Santander launches 'invisible cinema' experience to help tackle fraud
Santander has launched an ‘invisible cinema’ experience to teach under-25s about the importance of keeping financial information safe...
New CEO joins Buckinghamshire Building Society
Gerard O’Keeffe (pictured above) has started his role as the new CEO at Buckinghamshire Building Society...
STB Commercial Finance expands North West team
Secure Trust Bank (STB) Commercial Finance has appointed John Copping (pictured above) as regional sales director for the North West...
300 companies sign up to Women in Finance Charter
A total of 300 companies have now signed up to HM Treasury’s Women in Finance Charter....