Mediobanca’s Compass unit has acquired Italian fintech Soisy and bought a 19.5% stake in Swiss outfit HeidiPay. Founded in 2017, Soisy specialises in the granting of special purpose loans for the purchase of goods and services using e-commerce platforms. It works with 800 merchants, facilitating EUR50 million in loans a year. HeidiPay builds digital platforms to support e-commerce BNPL, developing agreements with distributors and luxury brands. The pair will supercharge Compass’s BNPL offering, PagoLight, which launched last year for in-store purchases and is also now working with e-commerce platforms. Gian Luca Sichel, CEO, Compass, says: "Compass is so far the only bank in Italy to seize the opportunities offered by this business and create its own interest-free deferred payment solution with PagoLight: it’s a business which dovetails perfectly with consumer credit, innovative and with excellent potential to support growth. "BNPL also allows a bank such as Compass to strengthen our presence in e-commerce, with a focus on certain categories of products and targets in particular, such as younger and digitally-literate clients, which historically have received less coverage from consumer credit."