Online merchants who use leading provider ConCardis to settle cashless payments can now offer their customers even more payment options for Internet shopping. A collaboration with RatePAY has made this possible. The payment service provider, which is part of the Otto Group subsidiary EOS, offers buy on account and flexible instalment payments for online purchases.
“Plentiful and diverse payment methods are a critical factor for the success of online shops,” emphasised Manfred Krüger, CEO of ConCardis GmbH. “Widening the selection lowers the rate of aborted transactions and leads to proven increases in turnover. This makes it particularly important for us to expand our product portfolio for online shops on an ongoing basis. The new ‘buy on account’ function takes the total number of payment methods available to online merchants using ConCardis to over 30.”
The new partner, RatePAY, was founded in late 2009 and offers e-commerce solutions for buy on account and instalment payment. In both cases the company bears the risk of default for the online shops. “In the past online merchants have been very cautious when it comes to purchase on account and instalment payment because they fear that payment will not be made after the goods have been dispatched. Our payment guarantee removes this fear – merchants are paid on a fixed date and in a lump sum, which also increases the liquidity of their shops,” explained Miriam Wohlfarth, founder and Managing Director of RatePAY. The company also takes care of the entire payment settlement process. Merchants avoid not only the risk of default, but also the considerable costs of billing, monitoring incoming payments and dunning procedures.
Wohlfarth sees the collaboration with ConCardis as the next step towards wider acceptance and comprehensive distribution of the two payment methods. “Trust is an especially important factor when it comes to payment. We are very confident that this partnership and the reputation of ConCardis will greatly strengthen the trust of online merchants.”
Online merchants who use leading provider ConCardis to settle cashless payments can now offer their customers even more payment options for Internet shopping. A collaboration with RatePAY has made this possible. The payment service provider, which is part of the Otto Group subsidiary EOS, offers buy on account and flexible instalment payments for online purchases.
