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Greater Transparency in the Private Used Car Industry

abracar GmbH (www.abracar.de) was founded in 2016 by Orhan Köroglu and Sebastian Jost together as part of the Allianz Group. With a very short time, it has grown to become Germany’s largest professional car dealer. The young Munich-based company aims to make private car selling more secure and transparent. For the vendor, this means effortless selling at the best possible price, while abracar takes over the entire marketing process. In addition to expert advice, the buyer reaps the benefits of abracar’s buyer protection – consisting of an independent assessment of the vehicle, a free warranty and secure payment through abrapay.

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Starting Point: Cash Dominates the Used Car Trade

Around 20,000 cars change owners every day in the private used car market in Germany. Up until now, the market has been dominated by classic cash payments and analogue bank transfers. Both are cumbersome, error-prone and slow. abracar has set out to make purchasing used cars simpler, more digital and more transparent by adopting a modern, digital payment method. FinTecSystems and abracar have taken up this challenge together and have developed a tailor-made online bank transfer solution.

Challenge: Electronic Payment Method for Secure Private Money Transfer

abracar is the first provider in the segment to offer secure and fast electronic money transfers between private individuals. What was needed was a payment method that was convenient, digital and that works on every device, as well as something that would immediately initiate the payment process. At the same time, the payment method should serve to further increase confidence in the abracar brand and be secure for sellers and buyers alike.

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The Solution: White-Label Online Bank Transfers In Your Own Corporate Design

The Payment Initiation Service developed by FinTecSystems is the perfect white-label solution to meet customer requirements. From a technical point of view, it is no more than a direct bank transfer. The advantage: FinTecSystems’ online transfer solution can be marketed as the partner company’s own brand at any time. For example, buyers at abracar can immediately pay for their vehicles online under the name “abrapay”. The buyer then selects abrapay as the payment method. Once they have entered the bank code or bank name, they log into their online banking account (with PIN). Here they find the prefilled online transfer form that is activated after the TAN has been entered. Buyers and sellers receive real-time confirmation from abracar that the money is on its way. Payment initiation is handled by FinTecSystems.

abrapay: The Instant Payment Solution for abracar

abracar uses the white-label online transfer as its own brand. Under the name “abrapay”, buyers can immediately pay online for their car purchase at the Allianz Group subsidiary in the look and feel of abracar.

✔ SEPA bank transfer in your own name and with your look and feel

✔ Bank-specific login fields

✔ Support of all common TAN procedures

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Customer Benefit: Increased Trust and Higher Conversion Through Your Own Payment Brand

With the instant online transfer solution accourate pay, FinTecSystems provides the digital building block that makes selling cars even easier. The payment method in the provider’s own look and feel ensures a high degree of trust on the part of the buyer and strengthens customer loyalty. Using its own interfaces (API), FinTecSystems covers more than 99.6 percent of all banks in Germany, Austria, Spain and France. By doing so, it is turning real-time online payments into a universally viable method of payment.

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Real-time confirmation

After payment, the seller is immediately notified that the transaction has been completed.

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No chargebacks

In contrast to SEPA direct debits, an online transfer cannot be reversed for a period of 13 months.

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High liquidity

The amount transferred is directly exchanged between the seller and the buyer and is therefore available promptly without being withheld.

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No registration necessary

The buyer pays using their usual online banking details. No additional registration is necessary.


“For us, abracar is a new important customer in a growing market segment. As one of the largest car dealers in Germany, abracar is bringing the used car market into the digital world. It does a great job of building trust and ensuring transparency. With the online bank transfer, we provide a tool that makes selling cars even easier. The payment method with its own look and feel ensures a high degree of trust on the part of the buyer and strengthens customer loyalty. We are very pleased about our cooperation with abracar”.

Dirk RudolfManaging Director at FinTecSystems

“We have sought to make purchasing used cars simpler, more digital and more transparent by implementing a convenient payment method. abrapay is our solution for secure, real-time money transfers. FinTecSystems has extensive experience and considerable expertise in the e-payment industry and is therefore the perfect partner for us”.

Sebastian JostFounder and Managing Director of abracar by Allianzabracar.de