REWE Group has just generated additional momentum for digital business models. The company has established a Cologne-based technology subsidiary called “paymenttools” (paymenttools.com) and will develop its own B2B payment platform for customers and partners.
With the addition of “paymenttools”, REWE Group will become the first food retailer in Germany to offer complete payment processing for stationary and online purchases as well as digital and stationary food shopping and travel opportunities from a single source. REWE Group has been successfully and profitably operating its own payment network for nine years.
With the help of paymenttools, we will support all stations along the omnichannel customer journey,
said Jan Kunath, the Deputy CEO of REWE Group. We will be the only food retailer in Germany that has an entire eco-system that extends from the order and delivery to payment. We will excite our customers and partners with the high level of comfort and security that we can provide them. Strategically speaking, paymenttools also represents an important step in our diversification strategy.
The company plans to expand its payment-service portfolio in future years, he said. Dr Klaus Wirbel, Head of Finance / Group Treasurer, added: REWE Group is already one of the largest girocard network operators in Germany with nearly 1 billion transactions annually. Bundling other payment process was the next logical step to take.
