eBay Acquires Purchase-on-Invoice Biller for German PayPal Users
Dec. 27, 2011
E-commerce giant eBay Inc. announced that it has acquired BillSAFE, a leading provider of purchase-on-invoice technology based in Germany. The deal follows eBay’s minority stake investment in the company in October 2010 and the company said it will integrate the biller’s technology in its PayPal unit, which serves more than 15 million accounts in Germany. Purchase on invoice is the most popular form of online payment in Germany, Austria, Switzerland and the Netherlands (nearly 20 percent of e-commerce payments in Germany last year were made via invoice, according to research). Customers simply select the item they want to buy, and then they receive an invoice for payment after the item is received. “German customers are extremely security-conscious, and they enjoy the convenience and safety of invoicing when they shop online,” said Arnulf Keese, managing director of PayPal Germany. “One of PayPal’s greatest assets is the security of our system, and we’re glad that we can now offer customers even more peace of mind with a payment method that they already know and prefer and that drives more sales for the merchants.” Terms of the deal were not disclosed.