Shopping app nate has partnered with FinTech-as-a-Service company Rapyd to develop new services, bolster buy now, pay later (BNPL) capabilities and fuel global expansion.
nate app allows consumers to tap and buy from any brand while eliminating the need for checkout process. The artificial intelligence (AI)-powered fills payment and shipping information to streamline purchases.
The partnership will help nate to eventually enable check out with 900 different local payment methods such as local debit cards, ewallets, bank transfers and even cash supporting growth in more than 100 countries.
nate CEO Albert Saniger said: “Since nate started working with Rapyd, we quickly realised how aligned we are on our views of the global payments landscape we all want to live in and help build.
“Consumers deserve a consistent, seamless, and private experience when making purchases. And merchants deserve to focus on what they do best, rather than worry about an increasingly complex and expensive stack. Deepening our partnership was a no-brainer, and a win for the entire industry.”
Rapyd will provide nate with the payment stack and global infrastructure which is supported by their Collect, Disburse and Wallet platforms.
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Rapyd Americas vice-president Eric Rosenthal said: “We know that today’s consumers make purchasing decisions based on the convenience of the transaction, so we’re pleased to help nate enhance their ability to serve customers and expand their reach across global markets with digital and social commerce.
“It’s an extraordinary opportunity for consumers to receive product and retailer recommendations and complete their purchase of items from any website with a few clicks.”