Mirko Krauel
Otto GmbH
Managing Director OTTO Payments GmbH
Mirko Krauel, Managing Director of OTTO Payments, elucidates their approach to the embedded finance market and the rationale behind the creation of OTTO Payments.
OTTO is e-commerce n°2 merchant in Germany. In turning into a marketplace OTTO need to be a bank and applied for their own banking licence. Fear of a potential loss of customer contact points. Offering credit allows to take control of the customer contact points. Desire to be as independent as possible too. So finally they built a payments company.
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