Alma: Streamlining Installment Payments for Retailers and Customers with Google Cloud

• Networks & Connectivity - NFC
• Platform as a Service (PaaS) - Application Development Platforms

• Cement
• Retail

• Procurement
• Quality Assurance

• Construction Management
• Infrastructure Inspection

• Cloud Planning, Design & Implementation Services
• System Integration

Alma, a fintech startup based in France, was founded in 2017 with the aim of providing an easy-to-use payment service that guarantees instant payment to retailers while allowing customers to pay in installments. The 'buy now, pay later' model, while beneficial for retailers in terms of increased conversion rates, larger basket sizes, and improved customer satisfaction, also posed significant risks. Retailers had to bear the burden of chasing debts and the possibility of late or cancelled payments. In France, such schemes were only viable for larger enterprises with extensive working capital and large credit lines. Smaller businesses were unable to afford the financial risks or secure the same level of support from their banks. Alma sought to address this challenge by developing an installment payment platform that would be accessible to a wide range of retailers and customers.

Alma is a fintech startup based in France, founded in 2017. The company provides an easy-to-use payment service that guarantees instant payment to retailers while allowing customers to pay in installments. Alma's mission is to help businesses increase sales and boost customer satisfaction without worrying about debt. The company has developed an installment payment platform, built on Google Cloud, that is accessible to a wide range of retailers and customers. Alma's services are particularly beneficial for smaller businesses that cannot afford the financial risks associated with 'buy now, pay later' schemes or secure the same level of support from their banks.

Alma chose Google Cloud for its speed and simplicity to develop its installment payment platform. The platform allows retailers to receive instant payment, eliminating financial risk, while customers can pay in several installments. Retailers can easily integrate the Alma plugin into their webpage or payment module in physical stores. The Alma infrastructure is based on a complex architecture of microservices managed with Cloud Run, with Cloud SQL for database management and Cloud Storage buckets for data storage. Alma also uses Cloud Logging for accurate logging, which is crucial for debugging and optimization. In addition to Google Cloud, Alma uses Google Workspace for its workflows. The company uses Google Calendar and Google Meet for communication and Google Docs, Google Sheets, and Google Slides for collaboration. The use of these tools facilitated a smooth transition to remote working during the COVID-19 pandemic.

• With Google Cloud and Google Workspace at its core, Alma has been able to focus on its core mission of making financial solutions for commerce. The company has been able to shrug off the burden of infrastructure management and concentrate on what it does best. The use of Google Cloud has also simplified compliance with financial regulation, with enhanced security measures and support from Google Cloud. Alma has been able to expand its workforce significantly, despite the effects of a pandemic, thanks to the simplicity of getting new team members to work quickly and easily with a familiar, intuitive interface like Google Workspace. The company is on a trajectory of rapid growth, with operations planned in Canada and multiple European countries beyond its native France.

• Processes more than €300m in payments every year

• Acquired several thousand retail clients within two years of commercial launch

• Raised €49 million in equity