Paynova: BNPL revolutionizes the consumer credit sector – Paynova BNPL SaaS ready to support change

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Today Paynova CEO David Larsson speaks at the Redeye Fintech Seminar at Stockholm. David Larsson describes that the personal loan ecosystem is disrupting and that Paynova BNPL SaaS, accelerated by recent strong partnerships, is ready to accompany the change.

Demand and consumer behavior are turning to BNPL

Younger generations are reducing their use of traditional credit cards. A long and complicated integration experience, the lack of choice of credit offers as well as the reduced need for long-term relationships with a financial institution push the new generations to seek innovative solutions by buying now and paying later. In addition, the pandemic has further fueled the shift to digital shopping experiences, causing a disruptive state of the traditional consumer loan and store-focused credit card industry.

BNPL’s market share is growing rapidly

Consumer demand for easily accessible credit purchases will continue, and BNPL is expected to increase merchandise volume 10 to 15-fold by 2025. Researchers believe BNPL’s market will generate 1000 billion dollars in annual gross value of goods.

BNPL competition intensifies

Payment giants such as Pay Pal, VISA and MasterCard strengthen their BNPL capacities but also super-traders like Amazon, Zalando, IKEA experiment on how to increase AOV and build loyalty with consumers through internal and personalized BNPL solutions. The consumer credit industry will not sit idly by while its activity declines. Banks and financial institutions but also newcomers to the sector such as wallets and fintechs will adapt to the BNPL preferences of consumers. The traditional consumer loan industry is often stuck in a legacy technology infrastructure, limiting speed and adaptability. This indicates that financial institutions will be evaluating a purchase rather than building a technology strategy to develop their BNPL offerings.

Paynova BNPL SaaS enables change – your brand, your customer and BNPL

Paynova is a BNPL SaaS company that enables the financial industry as well as merchants to compete in a growing and evolving international BNPL market. We deliver fast-to-market, world-class BNPL technical features to banks, fintechs and large merchants. Always in their brand. We are a technology company that facilitates BNPL, not a BNPL provider or a bank. Our modern SaaS platform as well as a range of optional solutions provide full flexibility to our customers launching their own BNPL.

Paynova Strong partnerships

Our focus on BNPL technology has attracted the giants of the payment world. Our recent partnership with Visa entrust their sales force with the resale and marketing of the Paynova BNPL SaaS platform and solutions to their customers and partners. This provides Paynova immediate access to banking and financial institutions. The partnership and cooperation have excelled and exceeded expectations, and we are already engaged in common sales processes. In 2020 Paynova BNPL integrated Pay Palthe payment platform for the business segment. Our business relationship with Pay Pal remains strong and we have an ongoing dialogue on how Paynova can support a localized BNPL offer.

Go forward – Paynova like a BNPL SaaS Company

Paynova deliver world-class, quick-to-market BNPL functionality to a rapidly evolving international financial industry and corporate traders. We have made substantial investments over the past few years in developing the platform and solutions to serve businesses to meet consumer demand for simple, accessible and flexible BNPL offerings. As our BNPL SaaS platform and solution business grows, we will shift to a software-based business model.

The timing is good. BNPL’s momentum in the international market, our technical preparation as well as the world of solid partnerships now form the basis of Paynova to launch and evolve the offer that we have defined as a leading star while investing, testing and building. Our objective remains, 15 Markets and 50M transactions in 2023

David

CEO

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FOR INFORMATION YTTERLIGARE, KONTAKTA

David Larsson, CEO, Paynova AB
[email protected], phone: +46 (0) 725 502 306

IN REGARDS TO PAYNOVA Paynova creates the most modern market experience within BNPL. Paynova is a payment institution approved by the FSA and listed on NGM Main Regulated since February 2004.

Information was submitted for publication on 20 October 2021 at 9:00 a.m. CEST.

https://news.cision.com/paynova-ab/r/bnpl-is-disrupting-the-consumer-loan-industry—paynova-bnpl-saas-ready-to-support-the-change,c3436145

https://mb.cision.com/Main/15210/3436145/1483166.pdf

(c) Decision 2021. All rights reserved., source Press Releases – English


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