The Düsseldorf e-commerce group The Platform Group AG is working on its own payment solution. The “TPG Pay” project will be directed by the central software development of the group of companies and completed in the third quarter of this year, the Platform Group said on Monday.
Chief Operating Officer (COO) Christoph Wilhelmy explained the background of the plan. “As part of our software development on TPG One, we focused more on the topic of payment,” he said in a statement. “After talking to the previous Payment partners, external online shops and the demand for a higher conversion rate, we decided to establish our own solution in the market.”
Specifically, the group pursues two goals with the project: “On the one hand, the customer can seamlessly pay on our now 30 platforms with all payment methods,” said Wilhelmy. “On the other hand, we would like to significantly increase the conversion rate through our own payment approach and the development of our own ‘Buy-now-point-later solution and transform new customers into regular customers.”