Industry Update /

FinXP and Trust Payments partner with Culpa Inkasso for innovative online debt collection solution

March 10, 2022

FinXP, an award-winning payments fintech, in collaboration with Trust Payments, a disruptive leader in fintech, specialising in frictionless payments and value-added services for online and offline merchants, are delighted to announce a new partnership with the German debt collection company Culpa Inkasso.Through the partnership, the two fintech businesses have delivered a novel and user-friendly solution that enables thousands of consumers to easily pay overdue invoices online. It has been built for customers who are defaulting on payments to Culpa Inkasso corporate clients.Affected customers will receive a letter detailing the debt amount owed which will include a QR Code that directs the readers to a secure website where they can settle their debts. The customer has the option to pay using a range of online payment methods including SOFORT, Giropay, credit & debit cards, and bank transfers. The direct settlement between FinXP/Trust Payments and Culpa Inkasso allows for a quick and secure payout to the creditors that have engaged Culpa Inkasso.This unique solution was developed in collaboration with Commonpay GmbH, an innovative technology company offering a wide range of integration solutions for the Financial Services industry.Commenting on the development, Dirk Schaarschmidt, Head of Business Development and Projects at FinXP, stated that “we are proud to have helped execute this novel solution that’s going to make the whole payment experience more seamless and as a result-helps the debtors, merchants, and our partners as well. This is in-line with our vision that payments should always be as user-friendly as possible”.Jonathan O’Connor, Chief Commercial Officer at Trust Payments, added: “Making payments easy is what Trust Payments stands for and we are delighted to have collaborated with FinXP and Culpa Inkasso to find innovative ways to help consumers simplify how they settle overdue invoices in as simple a way as possible. Direct settlement approaches like this are key to making payments feel seamless and effective.”“FinXP and Trust Payments offer exactly what we have been looking for in our innovative way: accessible, secure, and convenient payment options in all directions. We look forward to good cooperation with even more convenience for our customers”, said Karin Löbl, Managing Director at Culpa Inkasso.About FinXPFinXP Ltd., a FinanceMalta member, is a Malta-based electronic money institution licensed by the Malta Financial Services Authority. The company’s mission is to enable its customers to quickly and easily, make and receive payments in whatever form best suits them. The company is registered with the European Payments Council and SWIFT, and it is a principal member of Mastercard. FinXP provides IBAN Accounts, Card-Issuing, an Omnichannel Payment Gateway with 300+ payment methods, Unique Pay-out Solutions, SEPA Direct Debit services, and Clearing services. It is a fast-growing player in the European PayTech industry. For more information visit Trust PaymentsTrust Payments is a disruptive leader in fintech, specialising in frictionless payments and value-added services for online and offline merchants. We provide on-demand Payments and Banking-as-a-Service services to help businesses grow and scale online, in-store, and on mobile. Trust Payments is licenced by both the Malta Financial Services Authority and the UK Financial Conduct Authority and holds licences in 7 US States to carry out regulated payments in gaming. Find out more at Culpa InkassoFounded in 2003 in Stuttgart, Culpa Inkasso became one of the most successful debt collection companies in Germany - with up to 25% higher success rates than its competitors. Whether dunning service, debtor management, debt collection, compulsory enforcement, telephone, or field service: you can rely 100% on Culpa Inkasso's efficiency.