A new partnership between Billhop and Oma Säästöpankki Oyj (OmaSp) will help Finnish businesses improve their cash flow and close their liquidity gap.
Billhop, a Nordic fintech company headquartered in Stockholm, enables businesses and individuals to pay invoices with credit cards, regardless of whether the end beneficiary accepts card payments or not.
With support from Visa Finland, OmaSp, the country’s largest savings bank, has launched a new business credit card product that will provide access to Billhop’s service at a preferential rate.
Paying with the new OmaSp commercial card via Billhop will enable Finnish businesses to improve their working capital. Cash flow changes do not take effect until the card statement is due.
This partnership follows Billhop’s collaboration with Visa in Ireland earlier this year and a period of significant growth in the commercial space. It has launched in several European markets.
Billhop chief executive officer Sebastian Andreescu says: “The cooperation with OmaSp marks an important step in commercial issuer cooperation. We see the interest for Billhop’s service increase among issuers as they are experiencing significant reduction in overall travel and entertainment volumes as a consequence of Covid-19.”
“The foremost obstacle in the B2B space is low card acceptance and Billhop instantly removes this hurdle and makes all supplier payments card-accessible.”
Billhop chief financial officer Ingemar Sjögren is enthusiastic about working with OmaSp and launching the product in Finland: “Billhop’s service will be available to OmaSp’s customers at a much lower price, which will help thousands of Finnish companies improve their cash flow and close their liquidity gap. Billhop already has more than 50,000 satisfied customers across Europe.”
Riikka Salminen, country manager for Visa Finland, Sweden and the Baltics, adds: “I am pleased to launch our cooperation with Billhop with the help of OmaSp. This launch is of a special significance to us, as the new OmaSp Visa business credit card is the very first of its kind in Finland.”