German FinTech Unzer enters the BNPL market with a new product launch

By Gloria Methri

Unzer, the German FinTech that offers payment and commerce solutions, has launched its new buy now, pay later (BNPL). Under the name “upaylater”, Unzer integrates invoice, installment payment methods and direct debit into its product portfolio via a single interface.

This makes it easier for sellers to meet customer demand for BNPL services. In the future, the company looks to expand its market share in BNPL services.

Unzer is not new to invoices, installments or guaranteed direct debit, having offered all three payment methods in their basic forms for over 10 years. However, the company has now combined knowledge, data and technology together into a new offer.

Unzer has added installments and invoices to its available payment methods at the point of sale, enabling retailers to offer consistent shopping experiences both online and offline (“unified commerce”). Every transaction is run through a platform that synchronizes sales, product and customer data seamlessly and in real time.

A responsible risk assessment protects consumers from excessive debt. Based on various parameters such as date of birth and address, Unzer checks the identity of customers for even the smallest purchases in real time and prevents fraud. Anyone who has missed payments, has outstanding invoices, or exceeds a certain number of receivables must pay for a purchase in full before they can use any further BNPL services. In this way, both sellers and customers benefit from Unzer’s access to a wide range of payment options.

Robert Bueninck, CEO of Unzerexplained, “Unlike most of our competitors, Unzer does not target end customers. The entire customer relationship remains with the retailer. This also means that we do not use customers’ data to offer them other products. Unzer wants to be a pioneer in responsible invoice and installment purchases. That’s why we anticipate potential regulation when we design our products.”