bezahl.de launches first fully integrated "Buy now, pay later" solution in the automotive trade
- larissamarschewski
- May 18, 2022
- 3 min read
"Buy now, pay later" makes the customer journey more flexible and convenient for clients
The solution integrates seamlessly into automotive service and after-sales operations
Cologne-based startup automates the whole payment process
Cologne, May 16, 2022. NX Technologies, specialist for digital payment processes and provider of the payment management platform bezahl.de, announces the launch of the first fully integrated "Buy now, pay later" (BNPL) solution in automotive retail. Car dealerships can now offer their customers payment on invoice for the first time without additional effort and risk, using bezahl.de rechnungskauf. Through its BNPL solution, the Cologne-based fintech startup hopes to make the payment customer journey more convenient and flexible for clients while ensuring higher conversion rates for dealers as well as stronger customer loyalty.
With a market share of over 50% among the 100 largest car dealer groups in Germany, NX Technologies GmbH has already established itself as the new standard for modern payment management in the German automotive sector. With the BNPL solution, Cologne's hidden champion bezahl.de has added another essential function to its digital payment management platform.
BNPL increasingly popular among consumers - a novelty in the automotive trade
The use of BNPL has increased significantly in recent years as more consumers benefit from the payment method. In the automotive trade, however, there has been no corresponding payment solution integrated into existing processes. "With bezahl.de rechnungskauf, car dealerships can now offer their clients an even more convenient and flexible payment experience," comments Lasse Diener, CEO of bezahl.de, on the benefits for customers.
And this is how the BNPL solution works: Those who have successfully passed the bezahl.de credit check may pay invoices for wheel changes or other unforeseen repairs within a 14-day payment period. Customers can thus pay conveniently from home within the 14-day period. Should the payment deadline not be reached, the automated receivables management is triggered without any additional work. This guarantees predictable liquidity and maximum convenience for the end customer, while eliminating the need for time-consuming tracking of open items.
"bezahl.de now offers customers the option of purchasing on account, which allows for maximum payment flexibility while guaranteeing merchants punctual incoming payments" says Kai Röpe, Commercial Manager at Autohaus Adelbert Moll GmbH & Co. KG, development partner of bezahl.de rechnungskauf.
Seamlessly integrated into the fragmented system landscape of the automotive trade
Ulrich Schmidt, Co-Founder and CPTO: "Whereas payment on invoice was previously associated with time-consuming checks and incalculable risks, it can now be seamlessly integrated into the automotive service and after-sales sector. bezahl.de's new solution is perfectly suited to the automotive trade and its fragmented system landscape." The platform has interfaces with more than 20 IT systems (e.g. Ecaros, Cross, Formel1) and is therefore delivering payment data in real time as well as booking incoming payments directly into the respective systems. bezahl.de rechnungskauf will also be fully embedded in the dealers' existing checkout module.
The FinTech startup is furthermore developing a new fully-digital installment payment option to complement the purchase on account and be able to respond even more quickly to customer needs in the future.
About NX Technologies
NX Technologies GmbH is a specialist for innovative payment solutions. Lasse Diener and Ulrich Schmidt founded the Cologne-based startup in 2018 with the vision of transforming payment management for the automotive industry and in the near future also for other vertical markets. In its latest seed funding round, the fintech startup raised over €5 million at the end of 2021. The oversubscribed round was led by embedded/capital, the new fund of Finleap creators Ramin Niroumand and Michael Hock, as well as Marco Schnabl, the entrepreneur and co-founder of automotiveMastermind who has been particularly successful in the US market.
With its main product bezahl.de, the startup has already become the leading contact for modern payment management with a market share of around 50% in the top 100 segment of the German automotive trade. The team of now 90+ employees is continuously optimizing the bezahl.de product to create a new standard for digital payment management in Europe.
Press contact:
Larissa Marschewski
Lead Communication
+49 (0) 221 95018413
communicate@bezahl.de
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