Buy now, pay after 21 days. Twisto starts operations in Poland

Twisto is a Czech startup that is interested in ING Bank last year. Thanks to the cooperation of these two institutions, Twisto Payments has been created, which is just beginning its activities in Poland.

The solution of Twisto in Poland will consist in the possibility of a free transfer of payments for purchase in an online store (which make this method of payment available) until 21 days Simply – Twisto Company will pay the store "on behalf" of the customer and then pay the account with the customer. This is only if the transaction is not settled during this period as additional charges appear – 10 PLN for every 5 days late, up to 50 PLN after 46 days of the delay. purchase. Then the customer will also charge a 10% recovery fee. the value of the order.

. Source: Twisto

The solution is somewhat similar to the credit card transaction – when the customer receives an interest-free period after the purchase, and only after the expiration of the transaction, if the interest is not refunded, the interest is charged. From ING Bank Śląski in the project, the solution will of course be available to all Internet users (of course, subject to positive verification)

– We begin operations in Poland this week, in the first phase from Small Stores Online, but we are also talking to the biggest online shops operating in the country – said Krzysztof Blinowski, director of Twisto Poland on Tuesday. For the moment, the names of the first stores in which the deferred payments will be possible are not given. The solution of Twisto will surely be present in the payment portal imoje, or created a few months ago by ING Bank, a tool to accept payments via online shops.

z Twisto "is, of course, to conquer and completely change the Polish Internet payment market In the Czech Republic, the Twisto service is already very popular, it has been made available to more than 200 stores, more of 200,000 have used it.

Everything depends on Nikita

"The heart" of Twisto is the Nikita motor.It is he who decides in two seconds whether to allow the customer to buy with deferred payment or not. The decision is made on the basis of the "input data" provided by the customer (name, address, e-mail and phone number), basics accessible data, history of previous transactions or data left by the customer – eg technical information about the system and the device from which the purchase is made Nikita also profiles customers including for types of stores in which they want to use different payments last year, a Czech start – up reported that, for example, people who buy books or clothes do not have problems to use deferred payments to Twisto, but there is already half of the applications in electronics stores. We wrote more about the Nikita engine here.

Will the new payment method be accepted? We will see. Certainly what Twisto will want to try the "merchants", ie the online stores, to set up the service "Buy at Twisto", that will be the number. In the Czech market, customers using Twisto buy an average of 30%. more often than people who choose other payment methods. At the present time, the amount of commission for Twisto from online stores that will accept payment by this method is unknown, in the Czech Republic it is 0.5-3 percent [19659008] PayU responds – they are similar

It is probably not accidental that the same day Twisto announced that she was moving to Poland, PayU reminded her of her service "Pay Later". "Later later" service was launched last year and is already available for every online shop cooperating with PayU

In the case of this service the deferred payment of the Purchase in the online store takes up to 30 days, after this time, it is possible to distribute the bond for payments of 3 or 6 months, but already under the standard loan payment. The lender is a Kreditech company under the loan mark of Monedo

. Source: PayU

According to PayU, more than 80 percent. Users who use the service "Later later" for the first time are able to finalize the purchase in 3 minutes maximum The credibility analysis of the client is performed on the basis of personal data, Current transaction data of the user and the analysis of behavioral data using algorithms based on artificial intelligence and machine learning.

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