Croix, April 8th 2021 – In 2020, Oney, designer of pioneering payment, financing and insurance solutions, continued its expansion throughout Europe and confirmed its position as leader in split payment. Its “3x4x Oney” split payment solution was deployed on a larger scale, Oney arrived in Germany, and partnerships were formed with many different brands. All of this is evidence that retailers trust the brand and that its strategy is right on target. Within this context, GNP amounted to €434 million, down -3% compared to 2019, mainly due to the decrease in in-store credit activity as a result of the several lockdowns. The bank stayed on course with its main development projects during the year and reported a 12% increase in its cost of risk because of prudence provisions to cover unacknowledged risks. In total, net income amounted to +€39.7 million, down -10% compared to 2019.
Split payment leader in 4 European countries, Oney has, at the end of 2020, the trust of more than 550 (e)retail partners, which allows its payment and financing offers to be present in nearly 10,000 physical and digital salespoints in Europe. As of the end of 2020, Oney Bank is the split payment leader in France, Italy, Romania and Portugal, and n°2 in Spain. In France, 40% of the 50 largest e-retailers are partners of Oney.
Thanks to its full digital and omnichannel offer, which is unique on the market, Oney has supported commerce in all its forms, during lockdowns and re-openings, thus enabling retailers to continue their activity on all channels: store, website, click and collect, drive, etc. The deportation of physical commerce to digital channels has resulted in a 51% increase in split payment production during the first lockdown in France (+100% in Spain) and the trend has continued since then. In 2020, Oney gained market share in France, as it has in all the countries where it operates: today, one out of every three split payments made in France happens through Oney.
Split payment is becoming increasingly popular among customers, who find a simple and secure way to control their budget by splitting small amounts over a short period of time. Thus, in 2020, nearly 5 million French people used a Oney split payment solution, for an average purchase of €373. In most cases, the costs are covered by the retailers and the split payment is then free-of-charge for the customer. When it is charged, the costs associated with split payments are very low. As an example, with Oney, the purchase of a washing machine worth €300 in three instalments will cost the customer €1.45 per month. A real service recognized by customers: For 1 in 4 Europeans, the possibility of paying in instalments is a determining factor in choosing a retailer (OpinionWay / Oney survey May 2019),19% of Europeans pay in instalments at least once a month (OpinionWay / Oney survey May 2019).
In 2020, Oney extended the geographical presence of its split payment offer to two new countries – Romania and Germany – enabling Oney to support its retail partners in 7 European countries with unique offers and customer journey. Oney’s digital payment solutions have also expanded, adding three new features to the “3x4x Oney” solution: The “Buy Now Pay Later”, which allows payments to be deferred for up to 30 days free of charge,Payment in 6x, 10x or 12x instalments by credit card,Payment in 1x to 60x instalments with an IBAN.