At Riverty, we are deeply committed to promoting financial well-being and responsible spending. To support consumers, we have implemented several key initiatives. First, we use a proactive notification system – leveraging emails, app notifications, SMS, and even physical letters – to remind consumers of upcoming payments and fees. Additionally, we continue to provide upfront information to customers about upcoming payment cycles so they are on top of their financial management.
For the small percentage of consumers who do miss payments, we ensure transparency by enforcing late fees that strictly comply with regulatory guidelines, and this, in turn, incentivises customers to always pay on time. We internally track consumer lifetime value as a key metric, which only works if we have inherent interest in consumers continuing to pay without going into debt.
We differentiate ourselves when dealing with CCD2 and its local implementations to come in late 2025 by getting into self-regulation and taking early steps. For example, in October 2023, AFM in the Netherlands implemented a Code of Conduct, initiated by the sector (Riverty, Klarna, In3, and Billink), which puts forward minimum requirements for consumer protection for all Dutch BNPL players. As a contributor, we have already started taking action. We consider and support the position that BNPL is unsuitable for minors and want to prevent them from using it. We have internal and external checks to ensure that if a minor has inadvertently used the service, we can reverse the transactions and prevent additional costs. As part of the sector Code of Conduct, we have an ambition to expand age verification for all customers. Riverty also collaborates with Purpose, an expert in social debt collection, to identify additional steps that can be taken. Based on this, Riverty has started offering internal, certified budget coaches to help consumers facing financial difficulties gain insight and control over their financial situation. Additionally, Riverty provides tailored solutions that address individual circumstances.
When it comes to AI, a comprehensive approach is needed. Just like innovation is not only in a particular domain or process, so can AI impact multiple processes and areas. The first obvious one is customer service. In BNPL, payment management is a standard process – you check out, manage invoices, manage payment schedules, and pay on time – and you need an overview of all your transactions across different merchants. AI, especially GenAI, is a helpful tool where patents exist, allowing us to build more self-service capabilities. We mainly aim to reduce the time it takes consumers to find answers to queries, help them make faster financial decisions, and spend less time dealing with customer service, as we get numerous questions on how they can pay, return their products, or get a refund if returns have been made.
Another aspect of AI usage for BNPL is risk and fraud management, where AI is not new, as machine learning models have been leveraged for a long time. We have been building more accurate risk assessment models based on verticals and consumer types, and depending on their past payment behaviour, we can better decide and predict whether the customer will continue to be a good player or pay on time. We want to avoid consumers who are unable to manage payment experiences on time and also to prevent them from going into debt. In fraud detection, AI can identify fraudulent activity patterns. Fraudsters are getting smarter, and when fraud is detected early, they move from one vertical or ecommerce shop to another and always look for loopholes where the fraud solutions may not be applicable. With AI, we can find emerging fraud patterns and things that have not been in the system and ensure a good checkout experience for legitimate customers while keeping fraudsters out.
We want to balance fraud prevention measures with customer experience. We are working on a checkout experience which allows proportional authentication measures. If a known consumer has transacted with us for a long time, and we know the transaction history, we would not have a high amount of friction for them, versus a new consumer that we haven’t seen before or that changed some of their identity, where we would introduce authentication measures. These selective/proportional authentication measures are only possible with the help of advanced AI data analytics, as decisions need to be made in real time for all additional security measures. As a lot of fraud cases are related to identity theft, multiple companies are innovating in this area. We are establishing robust identity management systems, and even if consumers change their coordinates (e.g., emails or addresses), we still know it’s the same consumer and don’t penalise them unless ill intentions are detected. These nuances are possible with the advancements done in fraud mitigation.
At Riverty, we position our payments offerings as merchant-first, focusing on serving merchants and solving their problems, which in turn benefits their consumers. We prioritise addressing merchant pain points and enhancing their success rather than becoming a lifestyle or shopping app. This differentiated approach has driven our recent growth and gives us confidence for the future. Our partnerships with merchants, PSPs, and ecommerce platforms play a crucial role in driving innovation and meeting evolving market needs.
This editorial piece was originally published in The Paypers` Global Payments and Fintech Trends Report 2025. The report compiles insights and expertise from leaders representing companies across the financial services spectrum and it delves into the latest innovations and trends in payments and fintech across key markets worldwide.
Bandan Jot Singh’s journey in financial services is vast and varied, touching Asia, and extending to Europe. Having spearheaded projects for major tech players and banks, he is deeply versed in alternate payment methods and consumer lending. At Riverty, he is currently leading the Payment Business Unit, creating seamless merchant-consumer connections.
Riverty is a leading fintech company with a presence in 13 countries. Specialised in transparent payment methods tailored for consumers, Riverty offers merchants a comprehensive toolkit, from BNPL schemes to smart accounting and debt collection, enhancing the financial journey for all stakeholders.
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