Swedish eCommerce payment service provider Klarna has launched a free peer-to-peer (P2P) payment service and app, enabling people to send and request money securely.

The service, called ‘Wavy’, will enable consumers across 31 European markets to transfer Euros and split bills amongst friends and family. Consumers connect their bank accounts or credit cards to Wavy to generate a payment link that can be shared via social media channels or directly to another Wavy user. The person receiving the payment doesn’t have to sign up to Wavy, instead being able to receive their money through a bank account, if they choose.

Wavy is the work of the Cookies team, which joined Klarna at the back end of last year. Cookies had to shut down its own P2P payment app and its team has since been developing Wavy with Klarna.

“We can offer our users the most accessible peer-to-peer payment service in Europe,” said Lamine Cheloufi, previously co-founder of Cookies and now product director at Klarna. “Everybody can use Wavy to transact anywhere, at any time and in real-time. Its the most natural way to share secure money transfers between friends, colleagues & family. The recipient of the payment receives a payment link via any social media channel and can redeem the payment without having to sign up to the service.”

Earlier this year, Klarna acquired German online payment company BillPay, for a reported £60m from UK payday loans company, Wonga.