Wirecard, Billie support more digitisation of payments in Germany

Billie will offer SMEs and freelancers the chance to pre-finance their invoices by purchasing all liabilities from third parties and settling the outstanding amount.

According to the German Factoring Association, for many SMEs, factoring is an increasingly attractive funding alternative in comparison to lending. This is illustrated by the members sales which rose by 3.77% in 2016 to a total current level of EUR 216.8 billion.

Compared to conventional factoring, Billie clients can receive a monthly funding framework of up to EUR 200,000 via a traditional factoring contract but without any long-term binding commitment.

In Germany, there are currently no companies below the EUR 10 million sales mark which use factoring to a significant extent as a form of funding. This means that the market potential is very high and it is expected a veritable boom in Germany at the moment related to factoring practices.