Arvato Financial Solutions acquires Dutch “pay after delivery” payment service provider AfterPay
Baden-Baden/Heerenveen. Payment after delivery, for example by open invoice, is a preferred payment method for online consumers and leads to significantly higher sales for merchants. An increasing amount of European online retailers offer “pay after delivery” payment solutions to its consumers. In order to avoid credit risk or set up a credit management system, such retailers often outsource the entire post-payment process to specialized financial companies.
“Our vision is to support our customers – even internationally – with all the necessary and useful risk management solutions in an integrated way. The acquisition of AfterPay enables us to offer customers the popular payment method of open invoice with payment guarantee in Europe. Especially after the successful cooperation with AfterPay over the last two years, we are certain that the acquisition of AfterPay was the right step toward having a comprehensive presence in Europe,” explains Michael Weinreich, Member of the Executive Board of Arvato and responsible for the solution group of Arvato Financial Solutions, in justifying the takeover. “Now we are able to support our customers in all relevant markets safely and reliably from a single source with the outstanding risk management and execution capability of Arvato Financial Solutions.”
“We handle the entire processing and risk management of (digital) open invoice transactions in a consumer-friendly way. This allows our online clients to focus on their retail business,” explains Stefan van den Berg, Managing Director of AfterPay. “We see ourselves as partnering with merchants by helping them to increase conversion and sales.” “AfterPay is participating in various partnerships to develop new multi-channel innovations around the payment concept “pay after delivery” to provide online consumers a pleasant shopping experience and to strengthen the position of our customers,” adds Michael Weinreich. “By becoming part of the ambitious Arvato Financial Services Group, we will be able to enhance our current services, deliver cross-border payment solutions throughout Europe and introduce new financial services to our online retailers,” says Stefan van den Berg.
An established Dutch company
As the founder and CEO of AfterPay, which has reached a leading market position under his leadership, Stefan van den Berg will be responsible for the joint activities in the Benelux countries. AfterPay in the Netherlands has exclusive data and innovative tools for fraud prevention, which minimize the risk of default and allow high acceptance rates. Also, the use of the AfterPay payment solution through mobile devices such as smart phones and tablet PCs is possible at any time. In 2013 AfterPay also started activities in Belgium.
Since its founding in 2009, AfterPay has become the leading provider of online post-payment services in the Netherlands. The company offers a full-service solution including processing, transaction management, invoicing and collection, and covers the complete default risk. The consumer-friendly payment method is well known in the market under the brand name “AfterPay.”
About Arvato Financial Solutions/Arvato infoscore
Arvato Financial Solutions is a global financial service provider and part of Bertelsmann SE & Co. KGaA as a subsidiary of Arvato.
The company has around 6,000 employees in 18 countries, including a strong presence in Europe, America and Asia, and offers flexible full-service solutions for the value-oriented management of customer relationships and cash flows. Arvato Financial Solutions is synonymous with professional outsourcing services (Finance BPO) centering on cash flow in all phases of the customer lifecycle – from risk management and invoicing to debtor management, the sale of receivables and debt collection. As part of this, we focus on minimizing default rates in the business initiation phase and during the collection process. As a result, our services also include optimizing the selection of payment types internationally.
As a financial solutions provider, we manage around 10,000 customers, specializing primarily in the retail/e-commerce, telecommunications, insurance, banking and healthcare sectors. This makes us Europe’s third largest integrated financial service provider. Your one stop shop for financial services. Professional. Reliable. Efficient.