Strong partnership for modern payments: finAPI and Paymenttools bring digital bank account verification to the REWE App
Successful Open Banking solutions are built on strong collaboration: finAPI works closely with Paymenttools, the brand of OC Payment GmbH and a subsidiary of the REWE GROUP responsible for payment processing. As contractual partners, we have combined our expertise to bring state-of-the-art bank account verification directly into retail.
A key use case of this partnership is REWE Pay: Customers can conveniently pay for their purchases via the app, without cash or a bank card, while REWE connects mobile payments directly with its digital loyalty program. To make registration as simple and secure as possible, the system has been using finAPI’s digital bank account verification solution since July 2026.
The challenge: Seamless payments start with simple registration
REWE Pay enables customers to pay by SEPA Direct Debit. This requires reliable bank account details to prevent incorrect account information and reduce the risk of returned direct debits and fraud attempts involving false IBANs. Previously, customers could activate REWE Pay at the checkout using their Girocard and a signature. The goal was to replace this process with a fully digital solution that allows customers to conveniently verify their bank account online and start using REWE Pay on their next shopping trip.
The solution: Digital bank account verification via online banking with finAPI
With finAPI, REWE Pay can be activated entirely digitally within the REWE App. Customers simply log in to their online banking once via finAPI. finAPI retrieves the account holder’s name and IBAN directly from the bank account. This eliminates the need for customers to manually enter their lengthy IBAN and helps prevent typing errors. REWE then compares the retrieved account holder information with the customer data on file. If the details match, customers can authorize a SEPA Direct Debit mandate directly in the app. REWE Pay is then ready to use immediately.
Payment processing is handled by Paymenttools. The finAPI solution was integrated into the REWE Pay registration process through direct collaboration between the project teams. This enabled efficient API integration, rapid clarification of technical requirements, and seamless implementation within the existing app.
- 100% digital onboarding: Customers can activate REWE Pay online in just a few seconds.
- Reliable bank account data: Verification of the account holder's name and IBAN helps mitigate risks associated with direct debit payments.
- Seamless customer journey: Bank account verification and SEPA mandate authorization take place directly within the app.
- Fast verification: The technical verification of bank account details takes less than five seconds.
The result: Verified bank account data for reliable direct debit payments
Together with finAPI, the previous checkout-based activation process using a Girocard has been successfully replaced by a fully digital registration process. Customers can conveniently activate REWE Pay from home and pay via the app on their very next shopping trip. At the same time, REWE benefits from bank account data retrieved and verified directly, supporting secure direct debit payments.
Looking to make customer registration simpler and more secure?
With finAPI’s digital bank account verification solution, you can integrate secure, user-friendly bank account verification directly into your digital processes. Get in touch with us to explore how Open Banking can benefit your business.
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