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Deutsche Bank enters "Buy Now, Pay Later" market

Wednesday 13 July 2022 15:15 CET | News

Germany-based Deutsche Bank has announced cooperating with Austria-based fintech Credi2 to develop a white-label “Buy Now, Pay Later” (BNPL) product for online retailers and ecommerce marketplaces.

Within Deutsche Bank, the lead management for the BNPL project lies with the “Merchant Solutions” unit, which is its payment service division. Deutsche Bank will be using the “Buy Now, Pay Later” white-label software of Credi2. Initially, Deutsche Bank will only have indirect access to end customers. However, if the retailer agrees, the bank may also offer the retailer's end customers other products from their retail product range in addition to the BNPL solution.

In doing so, Deutsche Bank will fund BNPL sales for merchants, as well as assess fraud risk, and add claims from the respective purchase agreement into its own risk portfolio. Retailers will have access to a dashboard to track both refunds and partial payments of transactions digitally. According to a representative from Deutsche Bank, the white-label strategy guarantees that shops retain complete control over transactions with new and existing consumers. The first pilot projects are expected to start in Germany by the end of 2022.

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Keywords: partnership, expansion, product launch, BNPL, fraud detection, merchant, ecommerce
Categories: Payments & Commerce
Companies: Credi2, Deutsche Bank
Countries: Germany
This article is part of category

Payments & Commerce

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Credi2

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Deutsche Bank

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