🚀 The Big Move
The Platform Group AG (TPG) is entering the payments space. On February 3, 2025, the company announced TPG Pay during its Capital Markets Day. COO Christoph Wilhelmy shared that the goal is to simplify payments across 30 platforms. The project will also feature a buy-now-pay-later (BNPL) solution. The aim is to increase customer conversion and retention.
💳 BNPL & Seamless Payments
Laura Vogelsang, TPG Board Member, pointed to fashionette’s success with BNPL. Their in-house solution boosted repeat customers. Now, TPG Pay will expand this approach to external B2B clients. With BNPL and installment options, the company hopes to tap into new user segments. Vogelsang sees this as a game-changer for long-term growth.
🛠️ Development Timeline
TPG’s central software team is leading the project. Completion is expected in Q3 2025. The company is investing in infrastructure to ensure smooth implementation. With rising digital transactions, TPG wants to control its payment ecosystem. This will reduce dependency on third-party providers.
📈 The Bigger Picture
In 2024, TPG reported $570M in revenue and $35.8M in EBITDA. Expanding into payments aligns with its strategy to enhance platform services. If successful, TPG Pay could improve user experience and drive revenue. The move also strengthens its position in the platform economy. Expect more fintech innovation from TPG soon.
Will TPG Pay shake up the payments market?
