Kaufland, the online marketplace giant owned by the Schwarz Group, is making a strategic move to expand its payment options and cater to a wider range of customer preferences. Through a new collaboration with Consors Finanz, a leading consumer loan provider under the BNP Paribas Group umbrella, Kaufland is now offering a convenient loan financing solution for online purchases.
Growth and Expansion
This development comes amidst a period of significant growth for Kaufland’s online marketplace. With over 11,000 retailers offering more than 45 million products on the platform, Kaufland is poised for further expansion. By the end of this summer, the marketplace is scheduled to launch in both Poland and Austria, marking a significant step towards its goal of becoming a major player in the European e-commerce landscape.
New “Buy Now, Pay Later” Option
Following its recent announcement regarding seller fee adjustments in April, Kaufland is now focused on enhancing the customer experience through an innovative payment solution. The integration of Consors Finanz’s loan financing option signifies the introduction of a “buy now, pay later” functionality on the Kaufland platform. This empowers customers to make online purchases with the flexibility of manageable loan repayments, potentially expanding their purchasing power and catering to a wider range of financial needs.
Streamlined Loan Application Process
The loan application process is designed for ease and convenience. Customers can apply directly while placing their online orders and receive a loan approval decision within minutes. Furthermore, Kaufland utilizes an escrow account system to ensure secure and transparent payment processing for both customers and retailers.
A Fruitful Partnership
This collaboration marks a significant first for Consors Finanz, representing its inaugural partnership with a major online marketplace. For Kaufland, it signifies a strategic alliance that strengthens its position within the competitive e-commerce landscape. Gerald Schönbucher, Board Member of Kaufland e-commerce, expressed his enthusiasm about the partnership, stating, “We are delighted that this cooperation will expand the range of payment methods for our marketplace customers to include an attractive financing option. With Consors Finanz as a strong partner, we can offer extremely advantageous conditions in the area of consumer loans.”
Looking Ahead: A More Inclusive E-commerce Experience
The integration of loan financing solutions positions Kaufland at the forefront of providing a customer-centric online shopping experience. By offering diverse payment options, Kaufland caters to a wider range of financial preferences and potentially unlocks new growth opportunities within the e-commerce market. DMSMatrix will continue to monitor developments in this space and provide updates as they become available.