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Acquired 19.5% stake heidi payis a Swiss-based fintech company that specializes in developing digital platforms to support BNPL in the e-commerce segment.Moreover, it also got 100 percent noisy, Fintech in Italy.
The two transactions are designed to help Compass pursue its growth strategy in the BNPL segment. The growing and diversifying customer base also allows her to cross-sell her Compass products to younger target customers who are more likely to buy online.
The HeidiPay deal also allows Compass to spread its wings geographically with national as well as international coverage.
Albert Nagel Mediobanca’s CEO said: pace. Leveraging these acquisitions will also drive us to win new clients not only in Italy but also elsewhere.
Buy now and pay later is now an established trend, it added. Jean Luca Sichel Compass CEO. Compass is so far the only Italian bank to seize the opportunities offered by this business and create a unique interest-free postpayment solution. pagolite: A business that is perfectly aligned with consumer credit, innovative and with great potential to support growth.
BNPL will also allow banks like Compass to focus on specific categories of products and targets, such as younger customers historically under-covered by consumer credit and customers with high digital literacy, to expand their reach in e-commerce. It also allows us to strengthen our presence.
According to Compass, its ability to acquire new customers through BNPL is expected to quadruple by the end of fiscal year 2022-23 (5,000 to 20,000 new customers per month).
