Estonian fintech Paywerk has boasted an operational launch on the Polish market. Its deferred payment solution debuted this week and is already available in the first shops.

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Paywerk is a technology company that intends to offer deferred payments by working with various lenders. Ultimately, shoppers are expected to have access to multiple companies willing to finance their purchases. Meanwhile, for the time being, the offer of the fintech's first partner, Inbank, can be used. The fintech emphasises that cooperation with banks enables the establishment of a deferred transaction limit up to PLN 10,000, which opens up the BNPL (buy now, pay later) model also to shops with high-value shopping baskets.

At the heart of the solution offered by Paywerk are the payment cards on which the entire payment is based. The customer enters the card details as if he were to pay with it. However, the funds are not withdrawn. Indeed, payment is settled - depending on the customer's choice - after thirty days or in three instalments. The purchaser does not have to remember to pay, as Paywerk itself draws the funds from the card on the agreed date.

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As Inbank, the first fintech partner, points out, teaming up with Paywerk is a convenient way for the bank to enter the fast-growing BNPL industry. This is because it does not have to integrate directly with merchants, which would be time-consuming and difficult. Shops that want to start offering deferred payments in this model integrate with the Paywerk platform via a plugin or API. Importantly, this integration is intended to enable the merchant to also accept payments from other marketplaces - ultimately all in the European Union.