PAYONE forms BNPL partnership with Payla and VVRB

Based on the information detailed in the press release, this is set to enable PAYONE’s merchant customers with access to new products in the area of Buy Now, Pay Later (BNPL), which are set to be provided and distributed in cooperation with VVRB, a partner of fintechs in receivables financing, and Payla, a white-label provider of Pay Later products for payment service providers (PSPs) and financial institutions (FIs).

BNPL and what the PAYONE, Payla, and VVRB collaboration entails

Germany- and Austria-based PAYONE merchant customers are now provided access to three new payment methods in ecommerce, namely Secured Direct Debit, Secured Purchase on Account and Secured Payment by Instalments. Per the announcement, these payment methods can be connected via PAYONE’s existing shop modules or directly via the PAYONE interface. What is more, an integration of the new payment instruments for the point-of-sale, analogous to the launch of online shops, is expected to be rolled out within 2023.

The framework of this cooperation enables PAYONE to provide merchants with the complete BNPL portfolio ‘white label’ from a single source with the associated acceptance contract. Payla offers a platform designed especially for this purpose, which helps carry out risk assessments in real-time, amongst others, whereas VVRB oversees the required refinancing of the receivables.

Björn Hoffmeyer, Chief Commercial Officer PAYONE advised that the months of cooperation with VVRB and Payla have come as a confirmation that the company has chosen equal partners in terms of know-how and solution provision for the new portfolio around secured invoice purchase, secured instalment purchase and direct debit. They added that these payment methods are popular amongst end consumers and merchants alike, as well as easy to implement, and have been well received by customers.

Roberto Valerio, Managing Director of Payla stated that they are looking forward to cooperating with VVRB to provide PAYONE’s customers with invoice and instalment purchase products, which are fitting to PAYONE’s strategy of offering its merchants all payment methods from a single source.

PAYONE, Payla, VVRB, Worldline company information

A payment provider in Germany and Austria, PAYONE helps merchants and service providers address the challenges associated with cashless payment, be that in shops, mobile, or online. Being a full-service PSP, PAYONE ensures quick, easy, and reliable digital payment processes, and develops customized solutions for all industries and companies.

Payla provides payment solutions that enable Europe-based PSPs and FIs to offer their customers direct debit, purchase on account and payment by instalments as secured payment methods, with the BNPL payment methods being provided as ‘white-label’ exclusively.

Vereinigte Volksbank Raiffeisenbank eG (VVRB) is a cooperative bank which has been entering into strategic partnerships within the fintech environment. One of the activity points of VVRB is the consumer demand financing business with a focus on ecommerce, in addition to partial real estate purchases, and the company has been expanding its services portfolio and started providing fully digital rental guarantees.

Worldline aims to help businesses expedite their growth quickly, simply, and securely, and provides advanced payments technology, local expertise, and solutions customized for numerous markets and industries.

For more information about Worldline and Payla, please check out their detailed profiles in our dedicated, industry-specific Company Database.