Newsletter: 19th March. 2018

Kreditech and PayU launch instant cardless EMI with PayU Monedo in India

Global online payment service provider PayU and Kreditech, the leading group for digital consumer lending using machine-learning based underwriting, launched the beta phase of PayU Monedo in India. PayU Monedo will provide cardless EMIs (equated monthly installments) to finance the online purchases of consumers in India. The new offering follows the launch of a strategic partnership between PayU and Kreditech announced in May 2017 to deliver a joint proposition for cardless EMI.  The partnership saw EUR 110 million investment from PayU in Kreditech – the largest ever equity investment in a German fintech company.


WeAdvise launches B2B Robo-Advisor

Munich-based FinTech offers a white-label Robo-Advisor focused exclusively on the B2B business. The new tool is already available at the asset manager easyRobi(JDC Group) in action.


TransferWise chooses Wirecard as card issuer

Wirecard, the leading international specialist in digital financial technology, is issuing debit cards for TransferWise, the London-based international money transfer company, which can be used alongside its digital, limitless online account. The debit cards were launched in January for around 1,000 existing TransferWise customers, with a full rollout planned for 2018.


Deutsche Kreditbank relies on “Herbie” for the loan

Chatbots are now conquering the banks too. Deutsche Kreditbank AG (DKB) is using robots for communication tasks in cooperation with the fintech company Finreach starting this Thursday. The “Herbie” baptized chatbot will initially accompany customers of the BayernLB subsidiary DKB on the website to a consumer loan of up to 50,000 euros. According to Finreach CEO Sascha Dewald Herbie is the world’s first Chatbot for consumer loans.


Former 1 & 1 CEO Hoffmann becomes head of the payment holding company of Advent and Bain  

The former CEO of the Internet company 1 & 1, Robert Hoffmann is the new head of Eagle Eschborn GmbH – this is the holding, under the US financial investors Advent and Bain have settled their German payment activities. He is responsible for the operating Concardis GmbH, around which Advent and Bain are currently forming a new heavyweight in the European payment market.


Netto allows contactless payment in all branches

Netto wants to offer its customers throughout Germany the opportunity to pay even more comfortably and above all in a timely manner. In the approximately 4,170 branches, the discount store will in future allow contactless payment via payment card.