About OKQ8 Bank
OKQ8 Bank is owned by OKQ8, which operates in both Sweden and Denmark. The business comprises nearly 1,000 service stations and one of the market’s most substantial corporate offers, including cards, insurance and electricity.
OKQ8 Bank leverages multifaceted instalment options with Sileon's tech
OKQ8 Bank is one of many that has seen a great need for extended payment options in order to meet the changed consumer demand for flexible payment schemes.
Through Sileon’s scalable BNPL technology, OKQ8 Bank can expand its payment offering with direct invoicing, collective invoicing, and instalment options. The BNPL offering is a necessary complement to their existing card base and can be used across all channels.
With the BNPL technology integrated into OKQ8 Bank’s infrastructure, consumers can, for example, choose to postpone the payment due date with an invoice or split the cost into numerous instalments, i.e., 3, 6, 12, 24 or 36 months. This becomes especially convenient for expensive purchases, such as new tires or car repairs.
For additional flexibility and consumer satisfaction, collective invoicing allows the consumer to make multiple purchases during a given period and receive a single invoice at the end of the month. The payment method simplifies bookkeeping and personal funds management while also increasing consumer loyalty to the provider.
Sileon and OKQ8 Bank collaboration
“OKQ8 Bank is very excited to partner with Sileon in the rapidly growing BNPL segment.
The need for partial payments, at both point-of-sale and post-purchase, continues to increase significantly. With Sileon’s modern BNPL platform and expertise, we can now offer BNPL and collective invoicing to consumers across all OKQ8 channels while maintaining control over brand and customer relationships.”
Chief Commercial Officer at OKQ8 Bank
Who we serve
Sileon’s customers consist of banks, card issuers and other fintechs. Find out how they leverage Sileon’s SaaS technology to meet end users growing demand for flexible BNPL.