Sweden-based B2B payments technology platform Payer is partnering with Nordic commercial bank Resurs Bank to launch subscription solutions for the Nordic retail market using Payer’s application programming interface (API) platform, according to a Wednesday (April 27) press release.
Payer’s modular API platform is designed to streamline payment processes for B2B merchants while enabling a “consumer grade” user experience across the entire order-to-cash value chain, focusing on conversion, payment and automation of accounts receivable (AR), the release stated.
“[Payer shares Resurs Bank’s] ambition to be able to serve their merchant base with innovative payment products that are matching both present and future business models in the digital space,” said Payer Director of Partnerships Daniel Brännström in the release. “By entering into this new partnership with Resurs Bank, we will be able to serve businesses with completely new subscription solutions to accelerate the growth of the circular economy across the Nordics.”
The partnership between Payer and Resurs Bank “will give retailers access to a modern and flexible platform to manage all their subscriptions and important functions specific to their individual needs,” the release stated.
“The combination of Resurs’ long retail experience and the flexibility, stability and security of Payers’ core technology creates a strong strategic partnership,” said Resurs Bank Head of Product Development Anders Engstedt in the release. “We are convinced that we’ll be able to offer the Nordic retail market very attractive payment products.”
Payer and Resurs have agreed to the commercial terms and road map of their partnership, according to the release. They will offer updates on their progress as the collaboration continues.
Last year, Payer helped Volvo Financial Services (VFS), the captive financing arm of Volvo Group, optimize payments and improve the customer experience for auto service and repairs.
Read more: Volvo Teams With Payer for Service and Repair B2B Optimization
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