Mobile and e-commerce payments provider Loviit has expanded to the United Kingdom, where it hopes to reach merchants with global ambitions.
Loviit, is a subsidiary of DOCOMO Deutschland GmbH, partners with mobile and e-commerce retailers on a one-click payment system. The company also targets merchants looking to expand cross-border or international payments. Cross-border payments bring unique regulatory, currency and cultural challenges, and are attractive to e-commerce payments technology companies such as Stripe and WePay as a way to build their user bases.
“Our solution improves check-out conversions, reduces payment risks and significantly contributes to reducing operational costs associated with payment, invoicing and VAT management, especially for cross-border transactions,” Loviit chief executive and founder Marcel Vaschauner noted in a September 23 news release.
Loviit’s product can be integrated into existing merchant payment systems. The company also assumes the financial risk of payments.