On Wednesday, consumer finance technology company Kreditech announced the launch of its new business line, Online Point of Sales (POS) Financing. The first client, PayU Global BV, is a payment services provider and the e-payments division of Naspers Ltd., deploys Kreditech’s B2B2C solution. In the beta phase, PayU is reportedly providing Kreditech’s installment products as a new alternative payment option.
Kreditech shared that the new integration allows customers to instantly finance their online purchases at charges comparable to local banks.
“Loan amounts are granted at up to EUR 5,000 and for a duration of up to 36 months. The process is fully paperless and is based on Kreditech’s innovative scoring technology combining it with state of the art KYC. Its user experience and user interface focus on the highest convenience for the customer.”
Alexander Graubner-Müller, CEO and co-founder of Kreditech, stated:
“Launching our POS Financing product is a major step of our business strategy to expand consumer lending on a B2B2C level. We are already in talks with further clients in the e-commerce, travel and other online sectors and look forward to providing our innovative technology as an online payment method in the checkout process.”
James Caviness, VP product and innovation at PayU Global, added:
“Our primary goal is to provide the most convenient and innovative payment solutions to our users globally. We believe in Kreditech’s approach for credit rating and its focus on the best user experience when it comes to consumer credit. Therefore, we hope that the positive feedback of our users will lead to a stronger collaboration with the Kreditech Group.”