Payment Observer

The Latest News, Industry Insights and Research Findings on Global Payment Markets

22Mar/12

German OTTO Group to Start Online Payment Service Yapital

By Martin Schuppelius

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Yapital. According to Otto, the digital wallet service will enable consumers to make payments across all sales channels. The commercial launch is scheduled for mid-2013.

At present there is little information available but the move looks like Otto is about to create a potential competitor for online payment services such as PayPal, Google Wallet or Amazon Payments. It’s not the first time Otto expands into financial services: big financial services companies like EOS, EOS Payment and Ratepay are part of the Otto Group. Jürgen Schulte-Laggenbeck, CFO of the Otto Group commented: “For the Otto Group, this is a logical continuation of other Group activities in the areas of Financial Services, Multichannel Retail and Service. We are convinced that this young marketplace is large enough for a strong European player.”

Fun fact: The name Yapital actually refers to

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