300 retailers and 100 OTTO brands switch to Paygate as Computop completes acquisition of Otto Group’s EOS Payment business

Otto Group completes migration to Computop Paygate, as retailers switch from EOS Payment to Computop.

Bamberg, 4 January 2015 – Payment service provider (PSP) Computop today announced that it has successfully completed the migration of the one of the world’s largest e-commerce companies, Otto Group, to its payment platform Paygate from the previous Otto Group EOS payment platform. As a result, 300 retailers and 100 Otto Group retail brands are now processing payments with Computop Paygate.

The trading companies in the Otto Group that are now using Computop Paygate include brands such as Otto Versand, Baur, Schwab, SportScheck, Frankonia and the Witt Group. The companies in the Group that operate internationally include Heine, bonprix and the Unito Group. The migration project began in December 2013 seeing the first merchants switch to Paygate in June 2014.

“By using Computop Paygate, the Otto Group companies are now able to provide a large number of payment methods and increase the customer’s user experience“, explained Marc Berg, Managing Director of Finnovato GmbH, an Otto Group company specialising in financial services.

Ralf Gladis, CEO and co-founder of Computop said: “The collaboration with the Otto Group, and the support they provided Computop with during the migration have been outstanding. Computop Paygate now provides a comprehensive tool set to new customers. We look forward to supporting their international growth plans and multichannel activities with worldwide payment methods and efficient fraud prevention.”  

Computop opens a new office in Hamburg
Computop is using its acquisition of the Otto Group’s EOS payment transaction business to expand its presence in northern Germany. In August 2014, the payment service provider opened a branch in Hamburg. Six former employees from EOS Payment now complement Computop’s sales and product management departments in this new office. In addition, Computop has recruited three further members of staff to help meet the needs of its growing business in northern Germany.  

 

About Otto Group
Founded in Germany in 1949, today the Otto Group is a globally operating retail and services group with around 54,257 employees (as at February 2014). The Group includes 123 major companies and is present in over 20 countries in Europe, North and South America and Asia. Its business activities are grouped into three segments: Multichannel Retail, Financial Services and Service. In the 2013/14 financial year (to 28 February) the Otto Group generated turnover of 12 billion euros. It is the world’s second-largest online retailer in the end-consumer (B2C) business and Europe’s largest online retailer in the end-consumer B2C fashion and lifestyle business.

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About Computop

As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. With this internally developed software, retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.

Computop, a global player with its head office in Germany and locations in China, England and the USA, has been servicing large international companies in the service, retail, mobility, gaming and travel industries for more than 20 years. These companies include global brands such as Bigpoint, C&A, Fossil, the entire Otto Group, Sixt and Swarovski. Computop also provides it payment system to banks and financial service providers as a white-label solution. Through its customer network and collaboration with the global marketplace Rakuten, Computop processes commercial payment transactions for more than 16,000 retailers annually, with a combined value of USD 34 billion. With its individual and secure solutions, Computop makes a major contribution to the future of international payment processing.

For further information, please visit www.computop.com.