In Switzerland today, the habit of receiving an invoice and paying later carries over into online shopping. The country's unified QR-bill is used so routinely that 'receive first, pay later' functions as a sign of trust in this market. Riverty is a German specialist provider offering pay-later invoicing and installments tailored to this practice, having changed its name from AfterPay to its current one in 2022.

This suits product categories such as fashion and home living, where customers want to decide on payment after checking the physical goods, and businesses with high return rates where a 'receive first, pay later' option can make or break conversion. Since there is overlap with Klarna, it is common to compare target customers and fee terms before deciding whether to adopt it alone or alongside Klarna.

When a consumer selects Riverty's pay-later option, approval is determined through a real-time assessment, and the consumer either pays within the invoice deadline after receiving the goods or splits the payment into installments. Recovering unpaid amounts from consumers is Riverty's responsibility, and the merchant's share of the CHF amount is collected by Hecto Financial, converted, and settled in the contracted currency of USD, KRW, or JPY.

Riverty integration can be considered through Hecto Financial without a local process in Switzerland, but because of the nature of pay-later methods, there are screening factors such as product category and return rate. The settlement cycle, fees, and currency options are finalized at the contract stage.

• Business registration country

  Confirm whether a contract is possible on the basis of a domestic (Korean) business registration

• Sales channels

  The integration approach and priority vary depending on the composition of online sales channels, such as owned storefronts, open marketplaces, and mobile apps

• Product categories handled

  Advance confirmation is needed as to whether the products fall under industries restricted by Riverty's operator merchant policy

• Pay-later risk allocation check

  Switzerland is outside the EU under FINMA's regulatory jurisdiction, so EU consumer credit regulations do not apply directly, and who bears non-payment risk and the assessment criteria must be confirmed through Riverty's contract terms (see official sources below)

Even though this is a pay-later structure where consumers pay afterward, merchant settlement does not wait for the consumer's payment to be completed. Hecto Financial collects and converts the CHF amount for the approved transaction, and the Korean merchant is settled in the contracted currency of USD, KRW, or JPY. Who bears the non-payment risk and the invoice cancellation procedure in the event of a return should be finalized as part of the contract terms.

• Swiss National Bank (SNB) / Swiss Financial Market Supervisory Authority (FINMA)Official information on the Swiss payment system and financial supervision. Where this page's content differs from actual regulations, the official source takes precedence.