The provider of the direct payment system SOFORT has grown by 28% in the first six months of 2016. The company therefore expects a larger absolute growth in 2016 compared to 2015. More than 36,000 shops are already using SOFORT worldwide and 50 merchants are being added daily. Approximately 5 million transactions per month are impressive proof of how an increasing number of customers rely on secure payment via bank account.
For SOFORT GmbH, the main reason for its success is the high level of brand awareness among consumers, the fast and convenient payment process, and the accelerated shopping experience for the customers. The increasingly closer collaboration with the banks ensures a steady rise in the consumer's preference.
On the merchants’ side, the direct payment method increasingly benefits from cross-border business. SOFORT helps customers to cross the border and grows together with them. For example, 21,000 of 36,000 online merchants already allow Austrian customers to pay using SOFORT. International partnerships with major players like Worldpay, Globalcollect or Adyen prove to be a key growth driver and ensure fast expansion. Additionally, the EU Commission methods to prevent Geoblocking accelerate the market penetration of SOFORT abroad.
The reason for this: Merchants are looking for payment methods that allow international use and easy integration. CEO Jens Lütcke states: "Payment methods that can only be used on one single market are often more effort than they are worth."
The growth trend also continues on the domestic market in Germany: "Although SOFORT is already available in more than 64% of all relevant German online shops, the growth continues unabated mainly due to new B2B business models opening up market potential. Additionally, many German online shops are still growing in other European countries. Here, SOFORT is a strong partner thanks to the high degree of market penetration. For this reason, global brands such as Adidas, Spotify, or Lufthansa also rely on our payment solution", says Dr. Jens Lütcke.