ING creates successful and user-friendly Polish payment gateway

The Polish e-commerce and m-commerce markets are growing steadily, by 20% and 40% per annum respectively, according to Deloitte. However, a frequent complaint from customers was the lack of a user-friendly method for online payments.

“Online shopping in Poland is convenient, but it’s not perfect,” Dutch multinational bank ING explained in a recent press release. “Some people even avoid it, because they dislike paying up front or filling in forms and paying for purchases via mobile phones.” According to ING’s studies, only 5% of e-transactions in Poland were being completed on a mobile device, with many e-shoppers leaving the contents in their virtual shopping basket before finishing their purchase.

ING partnered with Czech fintech Twisto to create Imoje –  a “buy now, pay later” solution that allows customers to receive purchases without paying for them upfront, instead giving them 21 days to test and send back any unwanted items before having the final cost (if any) debited.

With Imoje, ING in Poland has become the first bank in the country to provide an e-commerce payment gateway designed to simultaneously improve customer experience and boost e-shop conversion rates. The idea is a spin-off from Twisto’s Twist Card, which is already available to its 150,000 customers in the Czech Republic.

imoje, ING in Poland's payment solution

The imoje interface. (source: ING)

What is Twisto?

Behind the whimsical name is a fintech aiming to provide simple financial solutions for the online generation and the underserved CEE population, through leveraging non-traditional data sources and machine learning for credit assessment. Founded in 2013, Twisto currently offers a credit hub for daily payments and interest-free credit options, as well as a payment card launched with WireCard and Mastercard.

The firm’s marketing style reflects its modern approach (source: Twisto)

A standout feature is Twisto’s ability to successfully roll out offbeat services suited to urban living – currently on offer are a photographic filing system that allows members to both pay and file bills quickly; a ‘click first, pay later’ e-service tailored to online browsers; and a Twisto bracelet to facilitate payments on the go.

The firm is currently backed by ING Ventures, UNIQA Ventures, ENERN Partners, Cezary Smorszczewski of Corviglia Capital, and MITON.

Recent recognition:

Top 20 Czech startups (Forbes 2016 and 2017); top 50 FinTech by Pathfinder rankings (2017); winner: most innovative experienced startup, winner: Top payments startup (EU FinTech startups 2017).

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