Sipay and Sileon signs an agreement to launch a new BNPL solution in Spain

The Spanish payment company expands its services with Sileon’s Buy Now Pay Later technology.

Sipay, an expert company in payment solutions that offer integrated financial services, brings Buy Now Pay Later (BNPL) technology from Sileon, a Fintech based in Sweden, to Spain through a new 3-year agreement.

This agreement allows Sipay to expand its services to include subscriptions, billing and instalment payment plans, and confirms Sileon as an international technology provider in the growing BNPL market. With Sileon’s powerful SaaS technology, Sipay can offer merchants the possibility to meet consumers’ high demand for flexible and convenient payment options.

“This agreement improves our value proposition in the competitive payment market in Spain,” says José Luis Nevado, CEO of Sipay. On the other hand, Félix Uriarte, CEO of Finanpay (VIVO Servicios de Compra S.L.), a company specialized in a new way of paying for the Sipay group, states the following: “We are very satisfied with the agreement that we have signed with Sileon to offer our customers instalment payment products. This solution creates new alternatives for merchants to manage their collections”.

Sipay is a payment service provider and a platform that helps merchants and large companies to sell more by adding value to their end users during the payment process. The company, specialized in the development of innovative and secure payment solutions, has almost 30 years of experience in the payment sector. Among Sipay’s clients are important players in the tourism, fashion, leisure and insurance markets. Sipay has the capacity to operate in more than 70 countries.

“The agreement with Sipay strengthens our position in the growing BNPL market and represents a major step forward in our international expansion journey. We are very excited to add Sipay to our growing pool of customers and look forward to supporting them with BNPL functionality,” said David Larsson, CEO of Sileon.

About Sipay

Sipay is a Spanish payment platform that helps businesses sell more by adding value to the user throughout the payment process. Its wide range of alternative payment methods to cards increases the confidence of the final consumer at the time of purchase. The company, specialized in developing innovative and secure payment solutions, has almost 30 years of experience in the payment sector, which allows it to know and advise each client to provide the greatest value to their business. Sipay has obtained the PCI DSS certification in its latest version for all its products and solutions, this being the highest security standard in the payment sector. Among its clients, it has benchmarks in the tourism, fashion, leisure and insurance markets, and has the capacity to operate in more than 70 countries.

About Sileon

Sileon AB (publ) is a global fintech company that offers an innovative card-based Buy Now Pay Later (BNPL) SaaS functionality to banks, card issuers and fintechs. With Sileon’s BNPL product, customers can add BNPL to their existing credit or debit card base and run their B2B or B2C BNPL business in-house. Sileon operates in a fast-growing international market with an estimated transaction volume of $680 billion globally by 2025. Sileon is listed on the Nasdaq First North Growth Market and has approximately 50 employees at its headquarters in Stockholm, Sweden. The company’s Certified Adviser is Erik Penser Bank.

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