Wirecard, a provider of electronic payment and risk management solutions, has partnered with Commerzbank to offer a joint commerce solution for online payments.
The new payment method, dubbed 'Purchase on account with pre-financing', can be integrated into existing software solutions or offered as a full package service. The Wirecard Checkout Portal will perform the integration.
Wirecard in its press statement said online merchants can be credited with the outstanding account immediately using a ‘purchase on account’ option, which would usually mean they would have to wait up to two weeks.
Marc Starzmann, Munich branch manager of the Commerzbank-Mittelstandsbank, said: "As the undisputed market leader in SME financing, we support many large, but also start-up, online merchants, so as to benefit from the continuing e-commerce boom. We are delighted to have found a professional partner in Wirecard, who understands our customers' needs."
Thorsten Holten, executive vice president Sales Financial Institution and FinTech Europe at Wirecard commented: "We are very proud to offer an attractive offer together with Commerzbank in the area of e-commerce for its customers. It represents a reaction to the wishes of online merchants to have liquidity as soon as possible and also be able to set up their shops as individually and flexibly as possible, including in terms of payment types offered."