bezahl.de introduces the first fully integrated “buy now, pay later” solution in automotive retail

NX Technologies, specialist in digital payment processes and provider of the payment management platform bezahl.de, announces the launch of the first fully integrated “buy now, pay later” (BNPL) solution in automotive retail. With bezahl.de Rechnungskauf, car dealerships can offer their customers payment on account risk-free and without additional effort for the first time. With its BNPL solution, the Cologne-based fintech company wants to make the payment journey more convenient and flexible for customers and ensure higher conversion rates and stronger customer loyalty among retailers.

With a market share of around 50% among the 100 largest car retail groups in Germany, NX Technologies GmbH has already established itself in this country as a new standard for modern payment management in the automotive sector. The Cologne-based hidden champion is now adding another essential function to its digital platform for payment management bezahl.de with the BNPL solution.

BNPL increasingly popular among consumers — a novelty in the automotive trade

The use of BNPL has exploded in recent years as more and more consumers are using the payment method. In the automotive trade, however, there has been no payment solution integrated into existing processes so far. “With bezahl.de Rechnungskauf, car dealerships can now offer their customers an even more convenient and flexible payment experience,” says Lasse Diener, CEO of bezahl.de, commenting on the benefits for consumers.

And this is how the BNPL solution works: Invoices for wheel changes or unforeseen repairs, for example, can be settled within a payment term of 14 days using the intuitively designed payment invitation from bezahl.de. Customers can therefore pay conveniently from home within the 14-day period. If this does not happen, automated receivables management is triggered without additional work, in which NX Technologies dealers immediately receive the overdue amount to their home bank account. This guarantees predictable liquidity and maximum convenience for end customers, while eliminating the hassle of tracking open items.

“With the new payment option on account from bezahl.de, we offer our customers maximum flexibility in payment processing and at the same time benefit from punctual and guaranteed incoming payments. “, says Kai Röpe, commercial manager at Autohaus Adelbert Moll GmbH & Co. KG., development partner of bezahl.de invoice purchase.

BNPL can be seamlessly integrated into the fragmented system landscape of the automotive trade

Ulrich Schmidt, Co-Founder and CPTO: “While payment on account was previously associated with complex checks and incalculable risks, it can now be seamlessly integrated into automotive service and after-sales services. The new solution is perfectly tailored to the automotive trade and its fragmented system landscape.” The bezahl.de platform has interfaces to over 20 IT systems (e.g. Ecaros, Cross, Formula 1) and can therefore not only deliver payment data in real time, but also post payments directly to the corresponding systems. bezahl.de invoice purchase is also completely embedded in the retailers' existing checkout module.

In order to be able to respond even more flexibly to the needs of customers in the future, the FinTech is already working on a fully digital installment payment option that will soon complement purchase on account.

About NX Technologies

NX Technologies GmbH is a specialist in innovative payment solutions. In 2018, the FinTech start-up based in Cologne was founded by Lasse Diener and Ulrich Schmidt with the mission to redefine payment management in the automotive sector — and other vertical markets in the near future. In the latest seed financing round, the fintech was able to raise over 5 million euros at the end of 2021. The oversigned round was led by embedded/capital, the new fund from Finleap makers Ramin Niroumand and Michael Hock, as well as Marco Schnabl, the entrepreneur and co-founder of AutomotiveMasterMind, who is particularly successful in the US market.

With its main product bezahl.de, the start-up with a market share of around 50% in the top 100 segment of German automotive retail has already become the leading partner for modern payment management. The team of now 90+ employees is continuously optimizing the bezahl.de product to create a new standard for digital payment management in Europe.