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  • Hendrik Roosna

Future of the Payments Industry – Environmentally Conscious Consumerism

Updated: 2 days ago



The most valuable fintech companies in the world are payment providers. The market cap of big payment providers like Klarna, Stripe, or Wise outran banks by exceeding $1 trillion. In fact, Wise just knocked our socks off by hitting a ground-breaking milestone. Their market debut valued at $11 bn made it the largest tech listing ever in London by market capitalisation. Seeing all the great potential, have you thought of the future of the payments industry?


We believe the next step for the payments industry to be environmentally conscious consumerism through payments.

A Global Trend of Moving from a Linear to a Circular Economy


We are witnessing businesses around the world to engage in the trend of moving from a linear to a circular economy. As leading brands slowly try to pivot towards a circular economy, they often meet the obstacle of setting up and managing financed subscription programs. In the worst-case scenario, this process can take up to years.


How Fairown helps thousands of brands and retailers is by taking care of the complexity and risks in designing and launching subscription-based models. We remove risks like cash flow and funding, market specific factors, customer background check, and residual value assessment. We also handle the renewals and utilise the devices, because it matters to us that devices don’t end up in a landfill. As simple as that, we deliver an end-to-end SaaS subscription model in just five weeks.


Subscription-Based Financing Has Proven Its Success


Leading brands and retailers in Scandinavia like Apple, STIHL and Komplett are already using Fairown’s subscription model and have experienced the dramatic success of well-designed hardware subscription offerings. This brings the lowest cost of use and consumers never need to pay the actual retail price.


It’s a win-win: brands and retailers get paid upfront for their products and there is no financing cost for the consumers when choosing to upgrade their device.

For example, Komplett – the largest e-commerce player in Scandinavia – proved that consumers prefer to have their products on subscription basis. With the help of Fairown, Komplett designed a financed subscription solution called Flex to enable consumers to use and then swap for a new product after two years. Komplett launched it in May 2021 in their online store for a few hundred different products without any specific marketing or sales support. One week later, a significant share of their sales was already done via new subscription-based payment solution Flex.


Driven by Environmentally Conscious Consumerism


Fairown has created solutions mature enough for brands and corporations to drive immediate profits while applying sustainable ESG (Environmental, Social and Governance) factors at the same time. Brands and retailers can keep consumers up to date with their latest products in an environmentally conscious way.


Even more, as the new generation becomes more aware of sustainability and environmentally conscious consumerism, there is a growing demand for solutions that empower usership over ownership. This is why a circular economy is the right way to keep our future safe.


If you want to find out more about subscription-based payments, you are welcome to reach out to our team!