Payer, Returpack to digitise payouts in national recycling scheme

Monday 19 April 2021 13:44 CET | News

Returpack has selected fintech startup Payer to develop a new IoT technology with the ambition to create an easy digital payout experience for consumers.

Returpack is the company that facilitates over 2 billion deposits of recyclable PET bottles and cans in Sweden through a network of reverse vending machines. The digital solution, based on Payer’s API payments platform, is now being rolled out across Sweden. Returpack has since the 1980’s been the company that is managing the national deposit return scheme in Sweden. Over 2 billion containers are recycled through Returpack each year. 

The system works effectively so that the deposit is added to the price when a consumer purchases a single-use drinks container in retail. The deposit is returned to the customer at the point of collection through a reverse vending machine. Traditionally the consumer obtains a physical voucher that is printed from the machine which can then be used for purchases in retail. 

88% of bottles and cans sold in Sweden are recycled through this scheme. Returpack are constantly simplifying and making the system more accessible for the consumer. To pay back the deposit in other ways than the traditional paper voucher is one of the areas of improvements. The digital transfer directly to the consumer’s bank account is an easy solution that also follows the digitalisation trend in the society.

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Keywords: partnership, digitalisation, fintech, startup
Categories: Payments & Commerce | Payments General
Countries: Sweden
This article is part of category

Payments & Commerce