Being able to receive payments and have customers checkout hassle-free from your webshop are critical elements for e-commerce businesses. Now the first Nordic all-in-one payment solution emerges.
Lunar acquires payment gateway Paylike and launches a one-step checkout solution for its business customers.
Ken Villum Klausen, founder, and CEO of Lunar, said:
"The new level of the business is moving Lunar beyond banking and is tailored to the defensive Nordic infrastructure. Building a two-sided marketplace for payments connecting consumers and businesses will make life easier for everyone. Payments will be at the forefront of our next growth phase.
Lunar will be the first of its kind in the Nordic market to own both sides of the payment network. The value for the consumers is fast, easy, and secure payments, and e-commerce will benefit from only having to use one provider across banking and payments, better conversion and lower transaction costs."
Lunar acquired Paylike
Lunar acquired Paylike, the Danish-based and modern full-stack payment platform, which operates in all of Europe and handles a >100m EUR transaction volume a year.
Lunar gains a gateway that will make it possible for Lunar’s business customers to receive payments from their customers without having to use an intermediary.
The addition of Paylike will bolster Lunar’s existing business banking offering to meet the needs of its growing customer base. Today more than 50% of all newly started businesses apply for a business account in Lunar’s home market.
Lars Bo Thomsen, co-founder and COO of Paylike, said:
"When we founded Paylike in 2015, we were on a mission to make it simpler and faster for businesses to receive payments. Back then, setting up a payment solution could take weeks. We launched a modern alternative that only took minutes. Now we are taking a big step forward by offering payments directly to the business banking account. That’s fintech at its best."
Details of the transaction were not disclosed.
One-step checkout for e-commerce businesses
On top of the acquisition of Paylike, Lunar launched Lunar Checkout.
Utilising the full potential of its banking license and in-depth knowledge of the customers, Lunar built a seamless and secure account payment method for shopping online. All the user needs to do is type in her phone number and swipe to approve the payment without any additional information.
To give all businesses and consumers a hands-on experience in the two-in-one convenience, Lunar also launched a storefront selling its popular merchandise to Nordic consumers. Check out Lunar Store .
Bet on payments follows after lunar’s €210m series d
In July, Lunar announced its €210 million Series D funding round led by Heartland. Other investors included Kinnevik and Tencent.
The new investment was secured following a rapid acceleration in growth from both p and business customers. Lunar now serves more than 500,000 consumers and businesses across the Nordics.