Returpack selects Payer to enhance digital payout experience for users

By Megha Bhattacharya

Sweden-based Returpack has selected FinTech Payer to develop a new IoT technology with an aim to create an easy digital payout experience for consumers. The solution is based on the FinTech’s API payments platform and is being launched across Sweden.

Returpack has been managing the national deposit return scheme in Sweden. Over 2 billion containers are being recycled through Returpack each year.

“The Pantamera Express machines are an important piece in our development of the future deposit return scheme in Sweden. Here we had the opportunity to test a new digital solution at scale and we can now offer a safe and simple transfer of funds back to the consumer’s bank account,” said Carita Carlsson, Product Manager at Returpack.

According to Payer, it was selected to offer a core engine, a machine-to-consumer, digital payout solution directly to the consumers’ bank account. The solution works in a combination of the machine, the cloud and a mobile app. The app is developed for both iOS and Android. The first-time registration and setup of the receiving bank account takes less than a minute to complete. The user scans a QR code after completing a session and the funds are shortly deposited into the bank account.

“Payer has been very receptive to our needs and we have in the project time felt confident that they would deliver a stable and secure solution for our digital breakthrough service,” said Henric Oscarsson, Development Lead at Returpack.

“We are incredibly proud that we were trusted to develop the next generation digital payout solution for the Swedish deposit return scheme, a system that all Swedes have a relationship with and contribute to. We are looking forward to continuing working closely with the team at Returpack in the future,” said Peder Berge, CEO and founder at Payer.

Recently, Payer Financial Services announced that it has developed a new registration product for improving customer relationships. The product enables e-commerce merchants to verify new customers as trustworthy so they can make their purchases with ease. Payer today launched a beta test program with several B2B merchants.