Compass completes acquisition of HeidiPay Switzerland

The operation signed in June 2023 strengthens the partnership with HeidyPay, a holding company specialised in the development of fintech platforms to support BNPL in the world of ecommerce and for physical sales points, of which Compass already holds 19.5% since August 2022.

Compass's geographical expansion efforts

The acquisition also represents the first step in the geographical diversification path of Compass which, thanks to the distribution license held by HeidiPay Switzerland, is a new consumer credit operator on Swiss territory.

The investment in HeidiPay Switzerland is consistent with the objectives of the 2023-26 strategic plan ‘One Brand One Culture’ which envision strengthening distribution through cutting-edge digital platforms for the Consumer Finance division of the Mediobanca Group, in Italy and abroad. The Swiss company boasts over 500 commercial agreements with distributors, luxury brands, and technology operators which will be the basis for the international expansion of PagoLight, Compass's proprietary and fully digital BNPL solution.

Launched in 2021 initially only for physical stores, PagoLight is today one of the main BNPL solutions in Italy with a total transaction volume of approximately EUR 200 million (financial year 2022-2023). Available in over 13,000 physical points of sale, a continuously growing network with around 1,000 new installations per month, and on 200 ecommerce platforms, PagoLight will strengthen its presence in Italy also thanks to the acquisition of the fintech company Soisy, which brings 700 new agreements with ecommerce brands.

BNPL sustainability in Swiss market with advanced tools

Being able to count on risk management tools (origination, collection, and anti-fraud) implemented in over 60 years of activity and on artificial intelligence tools integrated into the digital platform developed in collaboration with HeidiPay, Compass will make the BNPL business scalable and sustainable also in the Swiss market, affirming a distinctive model that is not easily replicable by pure fintech operators.