The consumer credit division of Italy's Mediobanca, Compass Banca, has launched a new platform for «Buy Now, Pay Later» (BNPL) payments, developed by Swiss fintech HeidiPay. HeidiPay was acquired by Compass in 2023, as reported by finews.ch.

The cross-border platform, named HeyLight, is described as an «aggregator of payment and consumer credit solutions, leveraging fully digital, real-time processes to enable installment purchases in both physical and online stores». The platform integrates Compass's experience with PagoLight in Italy, alongside the expertise of fintech firms HeidiPay and Soisy.

Expanded Capabilities and International Reach

HeyLight extends the flexibility of BNPL solutions by offering variable amounts and terms, fully digitized for real-time execution.

In the international market, the typical BNPL offering consists of an installment option with three payments or a 30-day payment deferral. Purchase amounts usually total less than 300 Swiss francs. HeyLight, however, is capable of processing financing with terms of up to 36 months and higher amounts. Retailers can also decide whether to offer their customers an interest-free BNPL option (where the retailer covers the fees) or an interest-bearing financing solution.

Already in Use in Switzerland

In Italy, HeyLight is already collaborating with over 1,000 digital shops and more than 26,000 points of sale. The new payment solution is also in use in Switzerland, where over 850 retailers, luxury brands, and technology providers are utilizing the service, including the online retailer Brack.ch.

HeyLight can rely on the extensive network of business partners established by HeidiPay «They are part of a network that forms the foundation for the development of a cross-border merchant offering,» according to the statement. 

A Brand with International Reach

With HeyLight, Compass can count on a brand with international reach, aligned with the Mediobanca Group's «One Brand One Culture» strategic plan for 2026 to penetrate new markets and customer segments.

Matteo Bozzo, founder of HeidiPay and CEO of HeyLight AG, comments: «The establishment of HeyLight represents a significant step for innovation in credit solutions, as it allows us to lead the way in retail development with a unique offering.»

«Leading the Way in Innovation»

Nicola de Cesare, Senior Director of E-Commerce & International Markets at HeyLight, articulates the technical advancements: «The risk management tools of Compass, on which PagoLight was developed, are now fully integrated with Soisy's digital core and HeidiPay's international vision. This has strengthened our ability to stay at the forefront of innovation.» The HeyLight brand will enable growth alongside retailers with both physical stores and e-commerce offerings in foreign markets.

Compass Banca, headquartered in Milan, currently serves 2.8 million customers and has over 15 billion euros in outstanding loans.