New smart service solves companies’ liquidity problems

Are you forced to pay your supplier invoices before you’ve received payment from your customers?

Billhop is a Swedish payment service which makes it possible for businesses and individuals to pay their invoices by card. You avoid being down on you finances before receiving payment from your customers, yet your suppliers are paid directly and on time.

A common problem that many companies experience, are long lead times between purchase and sale. This can lead to a ‘liquidity gap’ that may require external financing, or that the company tie up its working capital. This new financing solution is a service that helps companies to bridge this gap. In a simple and cost effective way, companies are able to pay their supplier invoices using the interest free credit period on their existing credit or debit cards.

What the service does

The aim of the service is to help businesses pay their invoices on time, and at the same time, give them between 30-60 additional days to receive payment from their customers. Most Swedish credit or debit cards have an interest free credit period of 30-60 days.

How does the service work?

It takes less than a minute to get started using the service. No applications, credit checks or other unnecessary administrative processes are required - you simply use your existing card.

After you have registered a business account, you can start uploading your invoices. Just as with internet banking, the name of the payment recipient, a reference number and the sum to be paid, are all required.

Exactly as when shopping online, card details are used to perform the transaction.

The ambition to simplify

Billhop began with four entrepreneurs with background and experience of other payment services. The ambition has always been to simplify the way in which small and medium sized businesses manage their payment flows.

"Since we know that smaller businesses want to minimize time spent on administration and instead focus on core operations, we at Billhop are working continuously to further develop our simple financing solution so that it facilitates the daily work of our customers."

– Erik Malm, CTO and Founder