Compass, the Mediobanca Group’s consumer credit arm, has completed two acquisitions in the Buy Now Pay Later (BNPL) segment
Mediobanca Enhances BNPL Operations with New Acquisitions. Source: shutterstock.com
The consumer credit arm of Italian investment bank Mediobanca has acquired two fintechs operating in BNPL sector to boost its operations. Namely, Mediobanca’s Compass unit made a deal with Italian fintech Soisy and bought a 19.5% stake in Swiss HeidiPay.
While Soisy specialises in selected loans for e-commerce platforms, HeidiPay builds digital platforms to support e-commerce BNPL, developing agreements with distributors and luxury brands.
The newly-acquired companies will supercharge Compass’s BNPL offering, PagoLight, with both product and customer base. Thus, Soisy works with 800 merchants, facilitating EUR50 million in loans a year.
PagoLight launched last year for in-store purchases. The offering has recently expanded to e-commerce platforms. Thanks to a technological platform specifically created and made available by Compass, customers get access to deterred payments immediately at the checkout. The solution is a combination of the innovative SmartPOS technology with Compass experience in credit evaluation.
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