ClickandBuy

About ClickandBuy

ClickandBuy operated as an online payment services provider, originating in Cologne, Germany, in 1999. The business model was developed by Firstgate Internet AG, establishing a system where users could register their bank or credit card details once to facilitate future online purchases using only a username and password. This e-money platform processed payments via direct debit, credit card, or a prepaid balance, serving as an intermediary that held sensitive financial data, aiming to streamline the checkout process for consumers.

The service catered to both online shoppers and a wide array of merchants. By 2009, over 16,000 online traders utilized the system for e-commerce, digital entertainment, and paid content services. Notable clients included major brands like Apple iTunes, Orange, MSN, and Electronic Arts. The platform's global reach was significant, with operations supporting around 14 million customers and transactions in 120 currencies.

A key milestone in the company's journey was its relationship with Deutsche Telekom. The telecommunications giant first invested in the payment provider in 2006 through its venture capital arm, T-Venture, acquiring a 20.2% stake. This partnership evolved into a full acquisition in March 2010, when Deutsche Telekom purchased all remaining shares, including those held by Intel Capital, for a reported $107 million. Following the acquisition, ClickandBuy became a wholly-owned subsidiary of Deutsche Telekom and relocated its headquarters to London.

Despite its initial success and large user base, the company faced intense competition in the rapidly evolving payments industry. In December 2015, Deutsche Telekom announced its decision to shut down the service. The termination of business took effect on April 30, 2016, at which point ClickandBuy ceased to issue e-money and provide payment services. The closure resulted in the loss of 80 jobs.