Deutsche Bank Partners With Credi2 to Pilot White Label BNPL Product

Deutsche Bank is partnering with the FinTech startup Credi2 to introduce a white label buy now, pay later (BNPL) product for online merchants and eCommerce marketplaces in Germany.

The pilot is scheduled to start this year and will enable online retailers to integrate the installment billing tool into payment processes, according to a press release on Wednesday (July 13).

“Together with Credi2, we want to create a real and consumer-friendly alternative to existing BNPL offers,” said Deutsche Bank’s Head of Merchant Solutions, Kilian Thalhammer. “Unlike most BNPL offers, the white label approach means that retailers retain full control over transactions with their new and existing customers.”

Read more: The Next Trillion Dollar BNPL Play Will Come From Untapped B2B Segment

The white label BNPL solution includes a merchant portal for tracking returns and partial payments, and non-payment and fraud risks are assessed by Deutsche Bank in real-time. Merchants receive payments for goods purchased as soon as the transaction with the consumer is finished and confirmation of shipping is confirmed, per the release.

See also: Zip Abandons Plans to Buy BNPL Rival Sezzle

“With Deutsche Bank and Credi2, a major international bank and FinTech are working together successfully. Through our white-label solution, banks, merchants and marketplaces can offer our modern and flexible payment solution under their own brand — this ensures customer loyalty and increases sales,” said Christian Waldheim, co-CEO at Credi2.

Headquartered in Vienna, Austria, and co-founded in 2015 by co-CEO Waldheim, COO Jörg Skornschek, and co-CEO Daniel Strieder, Credi2 offers a white-label plug-and-play SaaS platform for banks and merchants that aims to seamlessly integrate with existing digital technologies. The company works with Apple, Volkswagen Bank, Raiffeisen Bank International and other large global companies, according to its website.

Related: How Older, Prime Borrowers Can Help BNPL Firms Ride Out Storm

The BNPL surge is getting pushback from lawmakers amid record-high inflation and is seeing less participation from consumers at large. The once-skyrocketing sector is feeling the pinch of the end of the heyday. PYMNTS’ latest BNPL Tracker shows that older, more financially secure customers are one of the fastest-growing demographics of BNPL users and could help the struggling sector gain new traction.

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