Swipe brings instant invoice payments to Europe
8 Irish companies a day fail due to poor cash flow management. A recent U.S. Bank study indicates that 82 percent of businesses fail due to cash flow issues. Most of these companies sell demanded products and services. They don’t die because they have no customers. They just run out of money. What if their invoices were paid instantly?
Gateway for invoicing and payments Swipe does just that. The platform was launched in 2015 and now is available in 13 currencies across most European countries.
“Our invoicing already works worldwide. We also service payments for hundreds of merchants all over Europe, withdrawing funds daily without payout delays,” comments CEO of Swipe Jevgenijs Novickis. “Swipe is fully operating online, boarding clients within several business days.”
Swipe reports a 70% instant payment rate for their clients’ invoices. This is notably higher than what most companies expect. If you read any regular business blog, it will surely have at least one article with tips on getting your invoices paid. Not even instantly, just on time. Swipe has made it their mission to solve this problem.
“We have found that most invoice recipients do have the money to pay instantly,” shares Jevgenijs. “However, when it takes more than 1-2 minutes to pay, they usually put it off for ‘later’, and that ‘later’ never comes. Every bit of Swipe is built to solve this problem. Because we care how fast our clients get paid.”
Swipe simplifies invoicing and automates recurring payments for small businesses just starting out and offers a powerful API for clients who have their own custom systems. Bigger clients particularly value getting a modern invoicing system optimized for instant payments, without changing a thing about their billing system or the invoice itself.
Swipe invoices can be paid in two clicks worldwide, on any device. The system has proven to increase revenue per salesperson at least 15%-25% for businesses from a small flower stall to a telecommunications company with thousands of employees and clients. To achieve that businesses only have to add as sub-accounts for sales & support professionals.
“Our white label solution helps international holdings who manage payments in dozens of countries across several currencies easily optimize for instant payments,” adds Jevgenijs. “All their multiple brands and legal entities are linked to Swipe with just one integration which feeds seamlessly into their internal and external systems.”
Swipe puts their money where their mouth is – they do not charge you anything unless you receive a payment. So, if you send out 100 invoices and none of them gets paid, you pay nothing at all.
While expanding across Europe, Swipe sees rising interest from companies on the other four continents. There is steady traction for their worldwide invoicing product, while Swipe payments prepare to expand into other regions.