PAYNOVA AND AK FINANS LAUNCH NETWORK-ADAPTED INVOICE PAYMENTS
Paynova and AK Finans AB have agreed to cooperate in payment and financing services for invoicing via e-commerce. AK Finans AB is part of the Norwegian financial group, Aktiv Kapital ASA, which is listed on the Oslo Stock Exchange and which includes Svensk Kapital Inkasso. Swedish e-commerce alone has an annual turnover of about SEK 30 billion, of which about 25 percent is still paid via conventional invoices. Paynova and AK Finans will reach this segment together, offering e-retailers and consumers total solutions as regards invoice payments, with or without credit financing. Initially, the payment services will cover the Swedish market and will, at a later stage, be launched in important markets elsewhere in Europe.
The most usual methods of payment via e-commerce are invoice, cash-on-delivery and card payments, each of which makes up about a quarter of total Swedish e-commerce. Payments via Internet banks, various forms of mobile payments and e-accounts make up the remainder. Paynova now competes and cooperates within all these methods of payment. The cooperation with AK Finans broadens Paynova’s range of payment services, in that it now more fully matches the various forms of payment that there are. This will give increased competitiveness and the possibility of taking further market share.
”Together with Paynova, we can develop new, joint payment and financing services which are ideally adapted both for e-retailers and consumers”, says Rickard Westlund, CEO of AK Finans AB. ”For our part, this cooperation also means that we can participate in the rapidly expanding trade on the Internet.”
AK Finans is yet another payment service company which strengthens the strategic partner network that Paynova is building in Europe. This cooperation creates full-cover management, both of payment solutions and complementary financing – two necessary conditions for increasing sales via the Internet. Consumers are given the opportunity of paying against invoice, and e-retailers achieve rational and cost-effective administration.
”Despite the fact that invoice handling is extensive and expensive, the fact is that for many companies the invoice is the most usual form of payment”, says Pelle Hjortblad, CEO of Paynova. ”Together with AK Finans, we will refine invoice payments with the Internet and simplify handling, for both e-retailers and consumers. The door is being opened to a customer segment that neither Paynova nor AK Finans were able to reach on their own. This makes it possible for both companies to achieve new flows of revenue.”
For further information, please contact:
Mats Jonnerhag, Information Manager, Paynova AB
Telephone: + 46 (0)708 – 754 920, e-mail: mats.jonnerhag@paynova.com
Pelle Hjortblad, CEO Paynova AB
Telephone: +46 (0)70 – 181 01 10 Phone: +46(0)8-517 100 07,
e-mail: pelle.hjortblad@paynova.com
Rickard Westlund, CEO, AK Finans AB
Telephone: +46 (0)8–545 470 01, e- mail: rickard.westlund@akfinans.se
www.paynova.com
www.akfinans.se
About AK Finans
AK Finans AB is owned by Aktiv Kapital ASA, which is listed on the Oslo Stock Exchange. The Group operates throughout the entire Nordic area, and in several other European countries. In Sweden, AK Finans is one of the leading players in its operational area, together with its sister company, with an annual net turnover of about SEK 350 million. The companies operate in financial services, invoice services, collection services and acquisition and management of portfolios of depreciated receivables.
About Paynova
Paynova (listed on the Nordic Growth Market, NGM: PAY) is a Payment Service Provider, PSP, with full transaction processes, offering several services/forms of access for payments and other transfers via the Internet.
The payment services, which are primarily directed towards the segments, Travel, Media and Retail Trade include the Paynova Wallet, Major Client Services, Mobile Services, Partner Network Services and Payment Services. The transactions are processed between e-retailers, consumers, banks and other players, quickly, simply, securely and cost-effectively.
Paynova’s transaction processes and payment services are connected up with traditional banks, card companies and other PSPs, making a full-cover financial infrastructure with both geographical cover and the possibility of minimising transaction costs.
Paynova’s Partner Network includes established Internet banks, card companies (VISA, MasterCard, etc.), PSPs and other similar players (GZS/easycash, Paybox, TripleDeal, WM-DATA, etc.). Paynova can make transactions globally with over 20 000 banks via VISA and MasterCard. Paynova’s existing market focus is on Europe.
Important agreements have been recently concluded with, for example, SJ, Swebus Express and CDWOW.