Zimpler launches Paylink solution to augment invoices

By Gloria Methri

Swedish FinTech Zimpler has announced the launch of its payment solution Paylink. Similar to Mastercard’s Pay-by-Link, Zimpler’s new solution allows businesses to send digital invoices through a payment link which redirects them to their banking app.

The customers do not need cards to pay an invoice, as the funds are debited directly from their bank account, in real-time.

Zimpler says it has already trailed the solution with the European soccer club Brommapojkarna. The results of the collaboration showed that out of 13,500 invoices issued, over 40% were paid using Paylink, while only 1% chose to pay by card. Zimpler stated that the time taken for invoices to be paid through Paylink was 30% quicker than other methods.

Mathias Johansson, New Solutions Manager at Zimpler, said, “Adding Paylink to invoices comes with benefits for both consumers and businesses. Being able to click on a link and make direct and secure account-to-account payments simplifies the process for customers. They tend to make a payment much sooner than using other methods. This is a great benefit for organisations with Paylink integration, especially SMEs which may often encounter dips in cash flow due to late invoice payments.”

Soon, Zimpler will introduce two new features to the existing Paylink solution: “Pay on due date” and “Capture the date and time stamp on each transaction”. These new features will help Brommapojkarna to keep track of all incoming transactions and let their customers choose whether to schedule a payment on or before the due date – during membership renewal.

Madelene Sundin, CFO at Brommapojkarna, said, “Zimpler has done a great job simplifying our payment flow. In addition to that, we had the opportunity to have a payment experience that was completely on-brand in terms of design, which our members have greatly appreciated.”