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January 21, 2014updated 04 Apr 2017 4:09pm

arvato Financial Solutions acquires AfterPay

arvato Financial Solutions, a global provider of integrated and value-based management, has acquired Dutch “pay after delivery” payment service provider AfterPay.

By Verdict Staff

arvato Financial Solutions, a global provider of integrated and value-based management, has acquired Dutch "pay after delivery" payment service provider AfterPay.

As part of the acquisition, arvato will be able to offer customers the payment method of open invoice with payment guarantee in Europe.

The deal will allow AfterPay to manage the entire processing and risk management of (digital) open invoice transactions and enable their online clients to concentrate on their retail business.

Additionally, AfterPay is now planning new partnerships to develop multi-channel innovations across the payment concept pay after delivery to offer new shopping experience for online consumers.

Through this deal, AfterPay will be able to strengthen its current services, deliver cross-border payment solutions throughout Europe and provide new financial services to its online retailers.

arvato AG member of the executive board, Michael Weinreich, said: "Now we are able to support our customers in all relevant markets safely and reliably from a single source with the outstanding risk management and execution capability of arvato Financial Solutions."

AfterPay managing director, Stefan van den Berg, added: "We see ourselves as partnering with merchants by helping them to increase conversion and sales."

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