1. Who are you?

My name is Oliver Dümpe. I am founder and CEO of card4you AG and its loyalty innovation paycentive. Before launching paycentive in 2014, I already implemented a couple of loyalty projects for financial institutions. Prior to that I was a research associate and lecturer at the department of information systems at University of Augsburg.

2. Which services do you sell and who are your competitors?

Paycentive (payment+incentive) integrates loyalty into almost any given payment method by providing cashback rewards for payment transactions at local stores, national brands and online-shops.

Unlike traditional loyalty programs, paycentive is whitelabeled and perfectly integrated into the payment process and existing payment media. It provides added value and additional revenue for financial institutions and participating merchants alike while offering outstanding and easy to use benefits for customers.

3. How did you get your startup idea and how did you finance your startup?

Paycentive was launched in 2014 based on learnings of former loyalty projects with financial institutions like Barclaycard, Santander Bank or DKB that showed a high demand for digital loyalty programs which are seamlessly integrated into the payment process.

Fortunately we were able to finance the development and market launch of the paycentive loyalty platform with internal capital resources of card4you AG.

4. What were the biggest challenges in starting?

We did not have to start paycentive from scratch because of the background, team and experiences of card4you AG, which was a big asset. Nevertheless it was quite a challenge to find the first paycentive partner banks and merchants and to create the technological and formal standards to seamlessly integrate paycentive with the payment systems of our partner banks and merchants.

5. What areas within FinTech do you personally find most interesting and why?

There is no certain area within FinTech that seems more attractive to me than another. In the end the question that every innovation has to face is if it provides relevant and sustainable added value in a customers’ perspective.

6. What opportunities do you see for FinTech startups in the DACH region, and how can we help to accelerate it?

From my point of view a huge potential for innovative FinTechs lies in partnering with established financial institutions. Thus, connecting FinTechs and financial institutions and providing access to decision makers is something I would expect from FinTech forum.

7. What tip would you like to give FinTech entrepreneurs?

Focus on product and execution. Be fast rather than perfect. Accept failures and use them to grow. And do not forget that there is life outside work.