Hamburg | October 10, 2024 – SCAYLE Payments GmbH, a subsidiary of the ABOUT YOU Group founded in 2022, received a payment services license from the German Federal Financial Supervisory Authority (BaFin) at the beginning of October. With this important regulatory approval, the ABOUT YOU Group is laying the foundation for a comprehensive optimization of payment transactions in its partner business further strengthening its position in e-commerce.

Setting up its own payment company enables the ABOUT YOU Group to guarantee a standardized, modern, and efficient payment process at checkout. The aim of SCAYLE Payments is to make e-commerce payment transactions simpler, more secure, and more future-oriented by means of innovative solutions. The new subsidiary is fully integrated into the structures of the ABOUT YOU Group and will in the future take over the management of payment processing for the entire group.

“With SCAYLE Payments, we are creating strategic added value for our business. Not only our customers and retail partners benefit from an optimized checkout process, but also the ABOUT YOU Group through improved margins and increased control over payment transactions,” says Tarek Müller, co-founder and co-CEO of the ABOUT YOU Group.

The newly founded company, based in Hamburg, currently employs around 50 people. The management team consists of Dr. Thomas Kremser, who heads the areas of corporate strategy, product and IT development, finance, operations, and project management, and Martin Lemberg, who is responsible for risk management, governance, and compliance.

The official rollout of SCAYLE Payments is planned for the 2024/2025 financial year. This new structure will enable the ABOUT YOU Group to further consolidate its position in the rapidly growing e-commerce market and offer its partners even better payment services.