Otto Group invests in Financial Services with Yapital in Luxembourg

The Otto Group is investing in innovative payment services. With […]

March 27, 2012

The Otto Group is investing in innovative payment services. With the Yapital brand, consumers will be able to make payments easily and securely from next year. Yapital will be a Luxembourg platform.

The principle is simple: following a one-time registration, customers can use Yapital to make payments easily and securely. For the first time, the system will apply across all sales channels and without technical obstacles. The market launch is planned for the coming year.

“For the Otto Group, this is a logical continuation of other Group activities in the areas of Financial Services, Multichannel Retail and Service”, explains Jürgen Schulte-Laggenbeck, Chief Financial Officer Otto Group. “We are convinced that this young marketplace is large enough for a strong European player”, he adds. “Currently, there are many exciting things happening in this field, which we are observing closely.”

“We intend to differentiate ourselves very clearly from the competition”, explains Nils Winkler, Yapital Managing Director. “This won’t be yet another new online payment service or mobile payment app, but an overarching payment method for modern life.” It will be as secure as it is intuitive, and therefore attractive for all consumers. Yapital is relying not only on the Otto Group’s commercial reach, but has also begun specific discussions with other selected retail partners.

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