The German bank aims to design the BNPL solution that can be easily integrated into the payment process of online merchants and e-commerce marketplaces in Germany
Deutsche Bank branch concept. (Credit: Deutsche Bank AG)
Deutsche Bank has teamed up with fintech start-up Credi2 to develop its own white-label buy now, pay later (BNPL) solution for invoice and instalment purchases.
The company aims to design the new BNPL solution to be easily integrated into the payment process of online merchants and e-commerce marketplaces in Germany.
Deutsche Bank intends to commence a pilot of the new BNPL solution this year.
The pilot is said to enable e-commerce and digital merchants to integrate the instalment billing tool into their payment processes.
Deutsche Bank merchant solutions head Kilian Thalhammer said: “Together with Credi2, we want to create a real alternative to existing BNPL offerings.
“Deutsche Bank assesses the risk of non-payment and fraud in real-time and includes the receivables arising from the respective sales contract in its own risk portfolio.”
The German lender said that, unlike other BNPL products, its offering will ensure merchants retain complete control over transactions with their new and existing customers.
It comes with a special portal for merchants that will enable them to track both returns and partial payments of the transactions digitally.
In addition, the new offering will offer a liquidity advantage to merchants, where the bank will credit the purchase price to the merchant’s account immediately upon order confirmation, said the company.
Credi2 co-CEO Christian Waldheim said: “With Deutsche Bank and Credi2, a major international bank and fintech are working together successfully.
“Through our white-label solution, banks, merchants and marketplaces can offer our modern and flexible payment solution under their own brand – this ensures customer loyalty and increases sales.”