Engagement — Platform Due Diligence
Code & Co. advises Speedinvest ahead of its investment in Kevin, a novel payment solution that transforms expensive card transactions into A2A payments
Kevin guarantees a frictionless checkout experience by allowing customers to pay directly from their bank accounts, thereby avoiding costly credit card fees to merchants.
- Merchants who use Kevin benefit from higher conversion and lower transaction fees.
- Kevin provides customers with a seamless checkout flow.
- Kevin is currently working on an in-store offer for its payment solution.
Kevin is an e-commerce payment solution that merchants can embed directly into their checkout flow. Thereafter, payments can be seamlessly redirected through the customer’s personal bank account. This use of account-to-account (A2A) payment eliminates expensive card transactions and results in lower transaction fees. Its ease of use also means customers are less likely to abandon their shopping carts.
With over a decade of experience in finance and business development, Kevin’s founders have both the skill and the ambition needed to design a completely novel payment system. Kevin has over 100 employees located in nine different countries.
Kevin is currently working on its in-person A2A payment experience, which will allow customers to make purchases directly from their bank accounts using existing card terminals at the point-of-sale. Kevin expects to offer this service in 2022.
Code & Co. conducted an audit of Kevin ahead of Speedinvest’s investment (via its FinTech team) in the company. The audit included a thorough assessment of the product’s infrastructure and architecture as well as the product growth roadmap. Our knowledge of open banking and A2A payments allowed us to provide the kind of expert insight that our clients across Europe have come to expect.