German consumer fintech Kreditech has unveiled its new business line. Online Point of Sales (POS) Financing’s first client is payment services provider PayU Global BV, the e-payments division of Naspers Ltd.
People using Online Point of Sales Financing can instantly finance online purchases at rates similar to banks up to €5,000 over a maximum 36 months. The paperless process employs proprietary scoring technology.
“launching our POS Financing product is a major step of our business strategy to expand consumer lending on a B2B2C level,” Kreditech CEO and cofounder Alexander Graubner-Müller said. “We are already in talks with further clients in the e-commerce, travel and other online sectors.”
VP of Product and Innovation James Caviness explained the attraction for PayU Global.
“Our primary goal is to provide the most convenient and innovative payment solutions to ur users globally. We believe in Kreditech’s approach for credit rating and its focus on the best user experience when it comes to consumer credit.”