Billhop partners with Visa Finland and OmaSp to boost Finnish working capital

Billhop has confirmed a partnership with Visa Finland and Oma Säästöpankki Oyj (OmaSp) to boost Finnish businesses’ cash flow and close their liquidity gap. 

The partnership will see the release of a new Visa business credit card product, giving OmaSp customers access to numerous benefits, specifically when engaging with transactions through the omaSp card. 

Riikka Salminen, Country Manager for Visa Finland, Sweden and the Baltics detailed on the news: “I am pleased to launch our cooperation with Billhop with the help of Oma Säästöpankki. This launch is of a special significance to us, as the new OmaSp Visa Business Credit card is the very first of its kind in Finland.”

This announcement follows Billhop’s collaboration with Visa in Ireland earlier this year and a period of significant growth in the commercial space. In the midst of the pandemic, commercial card issuers have seen a decline in transaction volumes due to the absence of travel and entertainment spend which traditionally make up the bulk of transactions on commercial cards.

Billhop’s CEO Sebastian Andreescu also stated: “The cooperation with OmaSp marks an important step in commercial issuer cooperation. We see the interest for Billhop’s service increase among issuers as they are experiencing significant reduction in overall travel and entertainment volumes as a consequence of Covid-19.

“The foremost obstacle in the B2B space is low card acceptance and Billhop instantly removes this hurdle and makes all supplier payments card-accessible.”

Billhop’s CFO Ingemar Sjögren is enthusiastic about working with Oma Säästöpankki and launching the product in Finland: “Billhop’s service will be available to Oma Säästöpankki’s customers at a much lower price, which will help thousands of Finnish companies improve their cash flow and close their liquidity gap. Billhop already has more than 50,000 satisfied customers across Europe.”