Zimpler Launches Paylink Solution to Make Invoice Payments More Efficient
Zimpler, a leading fintech company born in Sweden, announced today the launch of its Paylink solution. Brommapojkarna, the largest football club in Europe*, were the first to try it out.
Paylink allows customers to pay through a link on the digital invoice which redirects them to their banking app, or online banking via Zimpler checkout. There the transaction is initiated and the customer’s identity is verified through the latest bank verification method. This means customers do not need cards to pay an invoice, as the funds are debited directly from their bank account, in real-time.
Zimpler’s initial collaboration with Brommapojkarna this year showed that out of 13,500 invoices issued over 40% were paid using Paylink. By comparison, only 1% chose to pay by card, where a standard bank transfer remains the most popular option. The time it takes for invoices to be paid through Paylink was 30% quicker – taking an average of 17 days to process, compared to the usual 25 days. So it’s safe to say, using an account-to-account payment method such as Paylink is simpler, faster and safer when given an option.
Soon, Zimpler will also introduce two new features to the existing Paylink solution: “Pay on due date” and “Capture the date and time stamp on each transaction”. These new features will help Brommapojkarna to keep track of all incoming transactions and let their customers choose whether to schedule a payment on or before the due date – during membership renewal.
Mathias Johansson, New Solutions Manager at Zimpler, said: “Adding Paylink to invoices comes with benefits for both consumers and businesses. Being able to click on a link and make direct and secure account-to-account payments simplifies the process for customers. They tend to make a payment much sooner than using other methods. This is a great benefit for organisations with Paylink integration, especially SMEs which may often encounter dips in cash flow due to late invoice payments.
“Innovation is at the heart of Zimpler. Earlier this year, we became the first payment provider in Sweden to offer B2B account-to-account payments and we constantly strive to develop new products and solutions to stay competitive.”
Madelene Sundin, CFO at Brommapojkarna, said: “Zimpler has done a great job simplifying our payment flow. In addition to that, we had the opportunity to have a payment experience that was completely on-brand in terms of design, which our members have greatly appreciated.”
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