"Scayle Payments enables us to add strategic value to our business. Our customers and retail partners benefit from an optimized check-out process and the About You Group through improved margins and increased control over payment transactions," said Tarek Mueller, joint CEO of About You. Founded in 2022, Scayle Payments will manage payments for the entire group. The streamlined check-out process is expected to impact both end customers and retailers by making payments simpler, safer and future-orientated.
Hamburg-based group boosts payments system - BaFin issues licence for Scayle Payments
The German Federal Financial Supervisory Authority (BaFin) has issued a licence for Scayle Payments, a subsidiary of the About You group, a press release said Thursday (October 10, 2024). This should help consolidate About You's position in the rapidly growing e-commerce market and give partners an improved payment service at the same time. Scayle Payments will official rollout in the 2024/2025 fiscal year.
Expanding potential of payments
Boosting e-commerce innovations
Thomas Kremser is responsible for corporate strategy, roduct & IT development, finance, operations and project management at Scayle Payment while Martin Lemberg is responsible for risk management, governance and compliance. Around 50 employees are bringing the payment system up to date. The Otto Group has also founded its own payment company, while the Hamburg-based Oxolo start-up is developing AI-generated advertising videos.
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