HUNGARY | SOFORT AG, provider of the innovative payment method SOFORT Banking, successfully continues its European expansion. From now on online sellers and merchants in Hungary can integrate the popular payment method into their online shop. The country is the eleventh European market in which online purchasing procedures can be processed with this payment method.
Context: what is SOFORT Banking?
SOFORT Banking (SOFORT) uses an online bank transfer to get the money from buyer to merchant. By using SOFORT, the consumer grants 'SOFORT' access to their online banking environment to initiate the payment. Upon checkout the shopper selects his or her bank and country, provides the online banking login and confirms payment by using the bank authorisation code (as in normal online banking transactions).
Safe and easy payment method
“We consciously made the decision to go to Hungary. The Eastern European market offers a huge potential for development and there is a clearly upward trend in eCommerce. With our services we set the direction for swift and safe online shopping “, says Dr Gerrit Seidel, CEO of SOFORT AG.
“Online shoppers in Hungary mainly wish or a safe and easy payment method when shopping online. With SOFORT Banking, online distributors can offer just that and thus gain the trust of the consumers”, says Christian Renk, Managing Director SOFORT Austria/CEE. First merchants of SOFORT AG in Hungary include Interticket, Weco Online and Netkellner.
More market entries coming up
Aside from Hungary, paying with SOFORT Banking is possible in Germany, Austria, Switzerland, the Netherlands, Belgium, Poland, Italy, Spain, France and UK. SOFORT AG is planning more market entries in Europe until the end of 2014.