Zinia provides payment services for Apple customers

Zinia will provide financing services for the purchase of Apple products in Germany. The American company's customers will therefore go through the Spanish fintech when using fractional or deferred payment solutions. This partnership is an opportunity for Zinia to develop its activities in Germany, while enabling Apple to meet the needs of German consumers, who are fond of BNPL's solutions.

FACTS

• Zinia, the BNPL solution from Santander and Openbank, is to become Apple's retail financing provider in Germany.
• Apple customers will benefit from easier payment terms when purchasing Apple products. Specifically, they will be able to :
• Divide their payment into several installments (3, 6, 12, 18, 24 or 36 months);
• Defer payment until 30 days after dispatch (if the purchase is made online) or in-store collection.
• To benefit from BNPL, customers simply need to provide their telephone number and date of birth. After verification, they can choose the solution that suits them best.
• The solution will be available for the purchase of an iPhone, iPad, Apple Watch, Mac or any other device, and will be available in Apple stores and on the brand's website in Germany.

CHALLENGES

• Benefit from the reputation of local players: The American company relies on fintechs that are well established locally. This is the case in France with Alma, which has been chosen by Apple to finance the purchases of its customers. As with Zinia in Germany, these partnerships are not only advantageous for Apple, but also represent opportunities for fintechs to significantly increase their business volumes.
• A more measured European strategy: The American brand wants to follow the BNPL trend in Europe by offering flexible financing options to its customers. However, changes in European regulations have discouraged Apple from developing its own BNPL solution in the country. But Apple is continuing its work on the subject, having just announced the end of Apple Pay Later and the integration of a similar functionality directly into Apple Pay, to be offered in Spain in particular by the end of the year.

MARKET PERSPECTIVE

• In addition to these partnerships, Apple has clearly demonstrated its ambition to diversify into financial services. In addition to offering a variety of innovative products such as Apple Pay, Apple Cash, Tap to Pay and Tap to Cash in the near future, the Cupertino-based company launched an API in March with the aim of offering its financial services to third-party players.
• Launched in 2022, the fintech of Santander's Digital Consumer Bank business has developed mainly in Germany, offering a variety of BNPL and fractional payment solutions. Its links with Openbank and Santander give it a certain stability that fintechs can lack in their early years.