RatePAYGermany Get Quote
Created 2009, RatePAY has been offering the payment methods of invoice, instalment payment and direct debit. The payment provider is licensed under the German Payment Services Oversight Act (Zahlungsdiensteaufsichtsgesetz; ZAG) by the Federal Financial Supervisory Authority (BaFin).
In 2010, RatePAY became a subsidiary of the Otto Group, through its EOS payment division. Early in 2017, the Otto Group agreed to sell RatePAY GmbH for an undisclosed sum by Advent International and Bain Capital Private Equity.
After its acquisition, RatePAY has been integrated within the Concardis Group, while retaining its brand and being managed as an independent company. The Otto Group, as a merchant, remains a client of RatePAY.
RatePAY assumes the full risk of a payment default for all payment methods. The dealer is paid the money, even if the buyer does not pay. In the case of instalment payment, the dealer receives a disbursement promptly after the conclusion of the purchase even if the customer has not yet paid all the instalments. The payout is usually made 18 to 24 days after dispatch or conclusion of contract. For invoice and direct debit, the purchase must be of a value of at least 20 Euro, for the RatePAY instalment payment a minimal 200 Euro basket value is necessary.