Billhop collaborates with Visa to improve working capital for Irish businesses
- 07.04.2020 11:28 am
Billhop (billhop.com/ie) has launched a collaboration with Visa in Ireland to enable businesses to pay their suppliers using card, regardless of whether the supplier accepts card payments. As part of the collaboration, Visa cardholders have a preferential rate of 1,99%* with Billhop, considerably lower than the headline rate of 2,95%.
Billhop, which has already launched in Sweden and the UK, is a payment service enabling businesses to pay invoices with cards regardless if the end beneficiary accepts card payments or not. No onboarding of the end beneficiary is required allowing Billhop to enable 100% of supplier payments on card instantaneously. In practical terms, this means that Irish businesses from now on are able to pay virtually all invoices using their existing credit card.
On the back of card payments made by small and large businesses, Billhop has experienced a significant pace of growth in Europe generally. In the United Kingdom particularly, Billhop has been well received by companies of all sizes and sectors. Small companies benefit from the grace period on their existing credit cards. Similarly, larger corporations use bespoke credit cards as a working capital financing solution when paying larger ticket suppliers through Billhop.
Sebastian Andreescu, CEO of Billhop, said: “Our ambition has always been to find the best possible solution for businesses to address their need for supply chain financing. Together with Visa we have been able to compose a very attractive offering which will benefit all Irish businesses whether they are an SME or a multinational Large Cap.”
Philip Konopik, Country Manager, Ireland, Visa, said: “More and more small businesses are turning to card as their payment method of choice for convenience and simplicity but also for easier tracking. This collaboration provides small businesses with all of these benefits, as well as a practical cashflow management tool.“