Until then, ClickandBuy customers will still be able to use their accounts to make payments in merchants’ online shops. However, after this date, ClickandBuy will no longer be available as a payment method. Customers are urged to use any remaining balances in their accounts before 30 April 2016, or to transfer their balance back to their bank accounts.
According to the source (citing the dpa news agency), this decision is the result of intense market competition. A Telekom representative has confirmed that 80 jobs at ClickandBuy would be lost, but no information regarding customer numbers or payment volumes has been made public.
ClickandBuy allows for 1-click-payments and is suited for online purchases on mobile, tablet and desktop. According to company data, over 14 million customers already use ClickandBuy to pay at over 16,000 registered online shops – including the Apple iTunes Store, T-Online, Parship, ADAC, Bild.de, King.com or 32red.com. Deutsche Telekom took over the company in 2010.
In recent news, German retail Otto Group has revealed plans to withdraw its Yapital mobile payments service from the market, with effect from 31 January 2016.
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