STOCKHOLM, April 6, 2021 /PRNewswire/ -- TF Bank's
ecommerce initiative Avarda, which is a part of the Ecommerce
Solutions segment, has since the autumn of 2020 conducted a pilot
project with a payment solution for Booztlet.com under the name
BooztPay. Based on the outcome of the pilot, Boozt has decided to
move forward with an implementation of the payment solution for its
full ecommerce environment including Boozt.com.
Boozt operates two online webstores focused on fashion and
lifestyle; Boozt.com and Booztlet.com. Boozt offers products from
more than 1,000 brands and had more than 2 million customers during
2020. The agreement means that Boozt will integrate Avarda's
payment tools and flows in Boozt's environment to create an easy
customer journey. The solution will provide Boozt with increased
control over the customer journey and additional possibilities to
interact with its customers.
"That a large company like Boozt has selected our solution is an
important commercial milestone for Avarda and shows that it is
possible to break the dominance of the largest payment providers in
the Nordic market. TF Bank's Ecommerce Solutions segment exhibited
strong growth in 2020, where Avarda Checkout increased its
transaction volumes by more than 200%. We believe that the
conditions to continue expanding are good", said Mattias Carlsson, CEO of TF Bank.
"Our unique model including the concept AMO (Avarda Marketing
Opportunities) is built on the ambition to give back control of the
customer journey to the retailers. By doing so, they can strengthen
their brands throughout the customer journey and increase the
possibilities for additional sales. We are proud and grateful of
the trust shown in us by Boozt and look forward to delivering the
market's most straightforward customer journey", said Mikael Johansson, Head of Avarda & Ecommerce
Solutions at TF Bank.
In the Ecommerce Solutions segment, TF Bank offers digital
payment solutions for both physical and online retailers in the
Nordic region, the Baltics and Poland. The customers are mainly end-consumers
who use the bank's payment solutions when they make purchases. The
digital payment solutions are available in the Nordic region under
the brand Avarda with solutions such as ACO (Avarda Checkout), AMO
(Avarda Marketing Opportunities) samt ARO (Avarda Return
Optimizer).
TF Bank in brief
TF Bank was founded 1987 and is an internet-based niche bank
offering consumer banking services and e-commerce solutions through
a proprietary IT platform with a high degree of automation. Deposit
and lending activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany and Austria through branch or cross-border
banking. From 2020 the operations are divided into three segments:
Consumer Lending, Ecommerce Solutions and Credit Cards. TF Bank is
listed on Nasdaq Stockholm.
For further information, please contact:
Mikael Meomuttel
CFO and Head of Investor Relations
+46 (0)70 626 95 33
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