Worldline, the European leader in the payments and transactional services industry, has selected Fiizy as a foundational partner for its new Payments Platform as a Service” (PPaaS) solution. Fiizy is among 16 foundational partners for PPaaS alongside leading PSPs and mobile payment services platforms, including AliPay, Discover Global Network and PayU.
Fiizy is a multi-lender consumer financing platform. Established in 2015 and headquartered in the Nordic tech hub Estonia, Fiizy’s home markets are Spain, Poland and Mexico. The company plans to expand to the Brazilian market this year.
PPaaS enables partners to orchestrate state-of-the-art payment solutions for their merchant customers across all commerce channels. The solution is an open ecosystem combining natively built services with connections to third-party applications. Designed to be device and partner agnostic, PPaaS enables partners to easily activate features in order to create or enhance the experience of their merchants’ offerings through open APIs.
Fiizy’s white-label, plug-and-play platform connects consumers with financial services providers, allowing them to instantly receive comparative offers for different financing needs. Frictionless customer onboarding and real-time access to a broad range of high-quality financial data helps the banks and lenders on Fiizy’s platform to better automate and target financing offers. Fiizy works with over 100 different lenders, including major players such as Santander, BNP Paribas, Citibank, American Express, etc.
“In the 1990s, being an internet company was a business model on its own. This was followed by cloud and then mobile services. Now all of these are an integral part of almost every business. The recent to the list is fintech, which is transforming the way products and services are consumed.” said Andres Meier, Fiizy’s CEO. “Fiizy is a versatile plug-and-play platform that helps businesses offer BNPL (buy now, pay later) financing options for their clients.”
Speaking of the partnership with Fiizy, Giulio Montemagno, SVP and Managing Director PPaaS at Worldline, Terminals, Solutions & Services, said: "At PPaaS we are building the core capabilities as well as the connections to a variety of players in different fields of the commerce ecosystem, so that payment processors or solutions integrators can pick and choose the elements they need to design and deliver the best experience to their merchant customers. We are delighted to partner with Fiizy which is poised to be a significant player in the exciting area of retail financial services. PPaaS will help Fiizy to reach a wider audience for its offering faster while ensuring an optimum customer experience.”
As a foundational partner of PPaaS, Fiizy will offer a novel multi-lender buy-now-pay-later solution to users of the new platform. “We will be the piece connecting the financial institutions in our network to the PPaaS platform, merchants and end consumers. When an end customer wants to buy a product from a retailer connected to PPaaS, Fiizy will provide him or her with a selection of comparable offers from different lenders,” Meier explained.
“E-commerce has skyrocketed during the pandemic and there is a strong demand for BNPL financing solutions with real-time offers,” said Meier.
With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Worldline employs a staff of over 20,000 employees and is present in more than 50 countries. In 2020 Worldline generated a proforma revenue of 4.8 billion euros.
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