Zimpler rolls out Paylink to augment invoice payments

Monday 5 December 2022 14:45 CET | News

Sweden-based fintech Zimpler has launched Paylink to increase the efficiency of invoice payments.


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.

Sweden-based fintech Zimpler has launched Paylink to increase the efficiency of invoice payments.

Paying invoices faster

Zimpler’s initial collaboration with Brommapojkarna in 2022 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 one of the most popular options. 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.

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.

Company officials stated that 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.

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Keywords: account-to-account payment, checkout optimisation , payment methods, SMEs, product launch
Categories: Banking & Fintech
Companies: Zimpler
Countries: World
This article is part of category

Banking & Fintech


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