EQS-News Deutsche Payment A1M SE: launches Buy Now, Pay Later Solution PayThisLaterDeutsche Payment A1M SE launches Buy Now, Pay Later Solution PayThisLater
EQS-News: Deutsche Payment A1M SE / Key word(s): Product Launch
Deutsche Payment A1M SE launches Buy Now, Pay Later Solution PayThisLater
Berlin, December 8, 2022 – Since December 1, 2022, Deutsche Payment A1M SE has been offering a solution for Buy Now, Pay Later (BNPL), that is, PayThisLater. With the white-label solution in cooperation with ACI Worldwide, business customers (merchants) can offer their customers purchase on account, installment payment, and lease-to-own. Therefore, business customers only need a single integration, which reduces integration costs and eliminates the need for separate contracts with each BNPL provider. Currently, there is already access to more than 70 BNPL providers, with the number expected to increase to over 220 by the end of 2023.
In general, BNPL is increasingly shaping the global and European payment method mix. According to forecasts by Statista, BNPL payments will increase by 39% by 2023.1 Particularly, younger consumers are using BNPL. That is, 47% of Generation Z and 40% of Millennials are more willing to make purchases when BNPL is offered as a payment method.1BNPL is particularly growing in popularity in Europe. The FIS Global Payments Report forecasts the highest growth rates for BNPL worldwide for Europe. In Germany, BNPL was already the second most popular payment method (20% of payments) in the e-commerce sector in 2021.2
"After PayThisWay, PayThisLater represents another payment method that optimizes the customer experience and journey. On the one hand, this benefits our business customers and, on the other hand, it is perfectly in line with our vision to provide all consumers with access to convenient digital payment methods that represent a positively perceived touchpoint," comments Alexander Herbst, CEO of Deutsche Payment, on the launch of PayThisLater.