Payments company Worldpay is partnering with Swedish payments services provider Klarna on enabling users to make invoice and credit based payments at point-of-checkout.

This partnership will not only enhance Worldpay’s offerings to its users, but will also help Worldpay’s e-commerce customers to improve their conversion rates by up to 20%, according to today’s announcement.

As of today, Worldpay customers in Austria, Finland, Germany, the Netherlands, Norway, Sweden and the U.K. can accept payments on invoice or installments through Klarna’s invoice and credit services.

According to Michael Rouse, chief commercial officer of Klarna, the payments service provider will assume all risks and responsibilities for managing credit and fraud.

At point-of-checkout online, consumers will be asked for their email address and postcode, instead of credit or debit card information, thus enabling the consumer to manage the terms of their payment either by 14-day payment through invoice or by fixed or flexible instalments spreading over several months.

Dave Glaser, chief product officer of global ecom at Worldpay said in a statement today:

Retail is a competitive sector so we’re seeing increased demand from customers wishing to create more reasons to shop with them over their competitors. For some, payment by credit card is seen as risky, and old fashioned, so being able to adapt to new and local payment preferences is a way to rectify this. We believe that this solution will empower companies to see a real increase in sales, and chose to work with Klarna due to their unprecedented coverage in the Nordics and Europe. Knowing the excellent customer service, they provide means our customers won’t be disappointed.

Read more at Klarna and PRNewswire.