Fellow Bank and Paytrail start cooperation
FELLOW BANK PLC PRESS RELEASE 23.8.2022 AT 3:50 PM EEST
Fellow Bank's e-commerce payment services, Fellow Invoice and Fellow Company Invoice, will be available to more than 20,000 online stores via Paytrail at the beginning of 2023.
Paytrail's goal is to offer relevant and modern payment methods. That's why the company invoice, which offers the best shopping experience on the market, is a perfect addition to Paytrail's selection of payment methods. Fellow Bank's Fellow Business Invoice makes purchasing by invoice simple and smooth for business customers. A business customer can make a purchase if the connection between him and the company he represents can be confirmed in a sufficient manner without separate pre-registration or account opening that interrupts the purchase process.
Juho Putkonen, Development Manager, Fellow Bank: "Fellow Company Invoice significantly changes business-to-business purchasing in online shopping. The buying experience of a first-time business buyer is even better than that of a consumer customer. This makes it possible for every online store to sell with an invoice, also to business customers."
The Fellow Company Invoice also makes receiving the invoice very easy. The invoice is primarily sent as an online invoice, equipped with the reference information entered by the buyer, so the purchase invoice can be processed without separate manual work or internal investigation.
Joni Rautanen, COO, Paytrail: "Paytrail's goal is to help online retailers grow, and comprehensive and modern payment methods play a key role in this. Business-to-business ecommerce is growing rapidly, and we want to meet the demand by introducing a business invoice to our offering."
At the same time, the invoicing service targeted at consumers, Fellow Lasku, will be added to Paytrail's selection. Fellow Invoice enables online stores to sell to consumer customers with a risk-free invoice. The end customer always gets 30 days to pay with the invoice, and if they wish, the customer can change the invoice to an account credit and pay for the purchase in suitable monthly installments. Fellow Invoice is safe and especially convenient for returning customers. Once a customer has been strongly identified, they can make a new purchase with just three clicks. Later this year, the consumer customer can also connect a credit card to Fellow Tililuotto, making the payment possible at all stores where the Visa card is accepted as a means of payment.
Both billing services have been developed with the mobile shopping experience in mind. This perfectly meets the needs of customers, as more than 70% of purchases are made on mobile devices.
Further information
Teemu Nyholm, CEO, Fellow Bank Plc, teemu.nyholm@fellowpankki.fi, tel. +358 50 577 1028
Joni Rautanen, COO, Paytrail Oyj, joni.rautanen@paytrail.com, tel. +358 40 8423 007
Fellow Bank in brief
Fellow Bank Plc is a new Finnish digital bank that helps both personal and business customers to manage their day-to-day finances in a flexible and straightforward manner. For savers, we offer an attractive interest rate on deposits. Fellow Bank Plc is regulated by the Financial Supervisory Authority of Finland and listed on Nasdaq Helsinki’s main list (FELLOW). www.fellowbank.com
Paytrail in brief
Paytrail’s online payment service is used by more than 20,000 Finnish companies doing business online. Paytrail also handles online payments for the State Treasury’s service Suomi.fi. Paytrail is Finland’s leading provider of electronic payment services, and is known as one of the pioneer companies in domestic e-commerce. We are part of the European Nexi/Nets group. Great Place to Work has awarded Paytrail Finland’s best workplace in spring 2021.
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