Rental Subscription

IoT marketplace

About the Company

tink was the first online marketplace for connected home products. Founded in Berlin in 2016, they have a team of more than 50 people bringing the connected home to the mass market.

They have also acquired more than 40 product partners (incl. SONOS, Bosch, Google) and are backed by investors ProSiebenSat1, Rocket Internet and Vattenfall.

Our challenge

In order to increase their number of customers, tink decided to introduce and test a new sales model that allows people to rent smart home products by paying a recurring monthly fee instead of buying them. Rental customers were also to be offered an extended warranty for the whole hire period.

Our task was to set up a recurring payment system for the rentals and integrate this with tink’s existing Magento sales system.

Everything had to be integrated with the custom implementation of bundle products in Magento.

The main challenges

Recurring payment system for rentals.
Integration of recurring payment with Magento Sales system.
Insurance system combined with rental payment system.
Boundled products payment management.

Solution step by step

Rental payments audit

German market specific.
tink.de business requirements.
Rental payments solution research.

Customer journey map

Rental product selecting.
Rental payment confirmation through external system.

Bilwerk.io

API solution implementation.
Testing Customer Journey.

What we have done

Billwerk

Primary API solution for processing rental payments.

One of the recurring payment providers with a proper API which we considered was billwerk.io. We decided to use it in our implementation as it met all of tink’s business requirements.

One of the challenges for this project was the fact that products to buy and to rent cannot be added to the same basket, as they require different payment methods, and the process of ordering them is constructed differently.

React based cart and checkout

Out-of-the-box solutions for cart and checkout, along with Magento headless integration.

Considering the intricacies of the current multistore/multilanguage Magento checkout, our aim was to maintain simplicity.

Since the rental cart and checkout processes were less complicated than a standard Magento setup, we opted for React to develop these processes outside Magento's usual framework.

This decision was driven by the goal of swiftly meeting our client's needs while keeping the implementation straightforward.

Outcomes

150+

Number of subscriptions on the first day of subscription model operating.

+2

Additional payment methods meeting customers expectations.

+1

Additional business model providing customers with flexibility to buy IoT products.

The development of our partnership clearly shows our high level of satisfaction and we can highly recommend the Panda Group as an agency as well as full-service provider.

We really appreciate Szymon’s entrepreneurial mindset, his high level of reliability as well as outstanding IT skills. Especially during critical times, we received excellent and result-driven support.