Germany's largest bank launches BNPL product

Germany's largest bank, Deutsche Bank, is developing a Buy Now, Pay Later (BNPL) product for e-commerce marketplaces and online retailers.

The white-label solution, designed for invoice and instalment purchases, has been developed alongside Vienna-based FinTech Credi2.

The bank has plans to trial the technology later this year.

The move comes after Deutsche Bank, the largest bank in Germany, recorded the highest net profit in a decade last year.

"Together with Credi2, we want to create a real alternative to existing BNPL offerings," says Kilian Thalhammer, head of merchant solutions at Deutsche Bank. "Unlike most BNPL offerings, merchants retain full control over transactions with their new and existing customers through the white label approach."

The Deutsche Bank executive said that a “special merchant portal” enables users to digitally track both returns and partial payments of transactions.

The financial institution added that merchants and marketplaces can benefit from a liquidity advantage, with the bank paying out the purchase price to the merchant's account immediately upon confirmation of order shipment.

It says that it can assess the risk of non-payment and fraud in real time and includes the receivables arising from the respective sales contract in its own risk portfolio.

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