Femion Technology wins first contract with a giant e-commerce wholesaler

TryPay S.A., a subsidiary of Femion Technology S.A. listed on NewConnect, announced the commencement of the commercial provision of AIS – Account Information Services, i.e. access to information from the user’s bank account for one of the largest e-commerce entities operating in the electrotechnical and electrical installation industry.

The company hopes that it will grow with the dynamic increase in online sales of the developing B2B marketplace and the boom in the construction and real estate market, which drives sales in the power tools industry.
The AIP service consists in the fact that the company TryPay S.A. by directly using access to bank transaction systems (with the user’s consent), he / she obtains access to his bank account in order to download data, including the history of transactions, and then, after processing them by the developed proprietary algorithms, performs a credit assessment of the user for the purposes of granting him / her in a manner automated credit limit.

The concluded contract is the result of successfully completed implementation works and tests between TryPay S.A. and the client. As a result of the completed tests, in accordance with the contract, the service will be implemented in the next few days – the company said in a press release. TryPay S.A. is a National Payment Institution, on the basis of a permit issued by the Polish Financial Supervision Authority, entered into the register of payment service providers.

“I believe that this transaction will mobilize other e-commerce wholesalers operating on the B2B market to use our solutions and thus we will gain new large marketplace platforms from various industries and sectors, becoming the leader of deferred payments on the B2B market” – says Jarosław Olejarz, President of Femion Technology .

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