Sofort Payments

What is SOFORT?

SOFORT is a real-time online bank transfer system that connects customers directly to their bank during checkout. Unlike traditional bank transfers, SOFORT provides immediate confirmation of payment, allowing businesses to process orders and deliver goods faster.

Developed by the German company Sofort GmbH (acquired by Klarna in 2014), the name “SOFORT” means “instant” in German, reflecting the speed and convenience of this payment method.

Benefits of SOFORT Payments

For Businesses

• Immediate payment confirmation: Expedite order processing with real-time transaction updates.
• Reduced chargeback risks: Payments are secure and irrevocable, minimizing potential disputes.
• Broad customer reach: Tap into a popular European payment method trusted by millions.
• Improved cash flow: Faster payment confirmations mean quicker order fulfillment.

For Customers

• Ease of use: Customers simply log in to their online banking account and authorize the payment—no need to create additional accounts.
• High security: SOFORT employs advanced encryption and complies with stringent banking regulations to safeguard sensitive data.
• Refund flexibility: Customers can receive refunds directly into their bank account with minimal hassle.

How SOFORT Payments Work

For Businesses

• 1. At checkout, customers select SOFORT as their payment method.
• 2. They are redirected to a secure page where they log in to their online banking account.
• 3. Payment details (amount and recipient) are pre-filled, and customers confirm the transaction using a Transaction Authentication Number (TAN) or two-factor authentication.
• 4. Once confirmed, customers are redirected back to the merchant's website, completing the payment process.

For Customers

• 1. Integrate SOFORT into your checkout process using MyauPay’s seamless APIs or Payment Elements.
• 2. When a customer initiates a payment, SOFORT (via Klarna) verifies available funds and provides instant payment confirmation.
• 3. You can ship goods or services immediately, knowing that payment is guaranteed by Klarna.
• 4. SOFORT ensures the transfer is processed securely, settling funds with your business shortly after.

Differences Between SOFORT and Instant Payments

While both offer speed and security, SOFORT differs from instant payments:

• SOFORT acts as an intermediary, confirming transactions immediately but settling funds later.
• Instant payments directly credit the recipient’s bank account within seconds

With SOFORT, businesses benefit from real-time transaction guarantees, enabling faster order fulfillment without waiting for funds to clear.

Why Choose SOFORT with MyauPay?

MyauPay simplifies the integration and management of SOFORT payments, enabling businesses to:

• Streamline checkout: Offer a trusted European payment method with minimal friction.
• Expand globally: Cater to a diverse audience across Europe, where SOFORT is a preferred option.
• Ensure scalability: Our platform supports businesses of all sizes, ensuring reliability as you grow.
• Save on development costs: Use our unified API to launch SOFORT quickly and efficiently.

Ready to Integrate SOFORT?

Take your business to the next level with MyauPay and SOFORT. Offer a seamless, secure, and trusted payment experience to your customers today.

This article is intended for general informational and educational purposes only and should not be interpreted as legal or tax advice. MyauPay makes no guarantees regarding the accuracy, completeness, adequacy, or timeliness of the information provided. For advice tailored to your specific circumstances, consult a qualified lawyer or accountant licensed to practice in your jurisdiction.