FELLOW FINANCE OYJ

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Fellow Finance Oyj : E-Commerce payment method Fellow Lasku now available in Finnish webstores

06/11/2021 | 09:01am

FELLOW FINANCE PLC PRESS RELEASE 11.06.2021 AT 4:00 PM

Following the revised company strategy, Fellow Lasku, Fellow Finance's e-commerce payment method, has now been published and is available for consumers in Finnish webstores.

Fellow Lasku, buy now pay later solution, is now available for consumers in selected Finnish webstores and will be integrated into thousands of webstores in cooperation with a Finnish Payment Service Provider after summer. The prevailing theme in developing Fellow Lasku has been combining the safety and ease of use of invoice as a payment method. In the development, particular focus has been given to the mobile purchase flow, in which a returning customer is now able to pay with only three clicks. The payment process is superior to currently available webstore payment methods regarding its ease of use.

Payment method safety was also a key objective in development. New customers are identified by using strong electronic identification and returning customers by using an advanced background identification process. Mobile optimized purchase process and easy customer identification flow delivers improved conversion and sales for online merchants.

The new payment method combines responsibility and credit risk management. Fellow Finance utilizes several new data sources and its machine learning based credit scoring models in assessing customer credit worthiness. In the future, Fellow Lasku and credit card payments will be integrated into Fellow Finance's digital payment services.

"We are pleased with the payment flow Fellow Lasku now offers to our customers. We believe that with our payment solutions we will be able to challenge the most advanced payment methods on the market and achieve significant market share in the rapidly growing e-commerce market", says Juho Putkonen, Development Manager at Fellow Finance.

Further enquiries

Juho Putkonen, Development Manager, Fellow Finance, tel. +358 40 922 6609

Certified advisor: Evli Bank Plc, tel. +358 40 579 6210

Fellow Finance Plc is a loan-based crowdfunding and peer-to-peer lending platform. The company's mission is to transform the traditional financing and payments to direct transactions between people and businesses. Fellow Finance has intermediated consumer and business financing of more than 750 million euros in Finland, Sweden, Denmark, Germany, Poland, and Czech Republic and served more than 950 000 customers. The company is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution and listed on the Nasdaq First North Growth Market Finland. www.fellowfinance.com.

https://news.cision.com/fellow-finance-oyj/r/e-commerce-payment-method-fellow-lasku-now-available-in-finnish-webstores,c3365564

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