The Finnish fintech company Enterpay will cooperate with Volksbanken Raiffeisenbanken to support the expansion of the bank’s e-commerce offerings to B2B merchant customers in Germany.
Enterpay has entered a cooperation with Volksbanken Raiffeisenbanken, and more particularly its payment subsidy VR Payment, one of the leading specialists in cashless payments in Germany. TEBA Kreditbank is the operating factoring partner of the new solution.
Historically, B2B merchants have been victims of slow selling and buying processes. Invoicing is often the optimal payment solution for the B2B buyer, but the credit assessment is typically time-consuming and high-risk for the merchants. As online purchases in the B2B market continue to grow rapidly, B2B buyers expect the same smooth experience that they know from B2C e-commerce. Consequently, merchants need a solution that is equipped to meet the changing expectations of their respective B2B customers.
Simplified B2B e-commerce solutions
Together, Enterpay and VR Payment aim to support the German B2B merchants in digitizing business processes and boosting their digital presence by providing smooth and simplified B2B solutions for various processes of the value chain.
“The purchasing processes in B2B e-commerce are complicated and the appropriate payment methods for a company in the digital age require extensive implementation that is fully automated. In cooperation with Enterpay, we offer an invoicing payment solution that embraces our commercial customers’ digital agendas and enhances the customer experience in a cost and time effective manner,” says Carlos Gómez-Sáez, CEO of VR Payment.
Enterpay’s solution enables VR Payment to extend and complement its B2B e-commerce services by delivering a secure online invoicing payment method. This is important because online consumer payment methods, such as credit card transactions, are uncommon in the B2B e-commerce sphere and invoice processes are often run manually, which is inefficient and insufficient.
Optimised through automatisation
With Enterpay, VR Payment has a fully automated solution that supports data identification, customer authentication, and comprehensive credit assessment.
“Digitalizing several individual steps in the value chain, as well as seamless integration of B2B invoice payments into existing B2B e-commerce offerings, enables B2B companies to save resources and have a complete focus on their actual business,” explains Gómez-Sáez.
Volksbanken Raiffeisenbanken’s customer-centric approach is fuelling the bank’s ambitions to solving customer challenges through strong and simplified solutions: “We are excited to be the first German bank to offer a purely digital and fully automated invoicing and factoring solution to our B2B merchant customers,” says Alexandra Lulla, Head of Marketing at TEBA Kreditbank.
The partnership with Volksbanken Raiffeisenbanken aligns well with Enterpay’s unique business model that is based on collaboration with existing, innovative-friendly financial firms rather than challenging them in rivalry. Jarkko Anttiroiko, Co-Founder and CEO at Enterpay states:
“We see much potential in the cooperation with VR. By combining our expertise and technical capabilities with VR’s comprehensive industry experience and know-how, we enable the German merchant customers to improve sales processes through easy customer onboarding, improved credit risk management, and integrated invoicing flow. I believe that the partnership with Volksbanken Raiffeisenbanken is a cornerstone for Enterpay and will give us the opportunity to develop our product even further.”
For more information, please contact:
Media contact:
Michael Juul Rugaard
Founding Partner, Norfico
mjrug@norfico.net
+45 93 99 38 83
Company contact:
Jarkko Anttiroiko
Chief Executive Officer
Phone: +358 500 520782
