Aprila Bank ASA: Distribution agreement for new product
Issued on NOTC.no 2020-10-14 08:17:48
Aprila is pleased to announce that we have signed a distribution agreement with Fair Group AS for the integration of Aprila Deferred Payment in the Fair Distribution platform (“Fair Distribution”). Together the parties intend to offer deferred payment to Fair’s customers in the business-to-business segment.
Fair Distribution is an invoice distribution platform, which means that as a single point of delivery for outgoing invoices, the platform finds the best way to reach the recipient, whether electronically (eFaktura, AvtaleGiro, Vipps, digipost, email or EHF) or by mail. Fair distributes 20 million invoices annually in Norway on behalf of their customers.
Aprila Deferred Payment adds a “button” on the invoices distributed through the platform, enabling the recipient to choose delayed payment of the invoice (if qualified by Aprila). This new product fits well with Aprila’s focus on providing frictionless and integrated banking services to small and medium sized businesses in the interfaces they already use.
“By introducing the ability for a recipient of an invoice to pay later, while Aprila pays the issuer of the invoice on time, Aprila has added another convenient and accessible product to its SMB offering. We are proud to introduce this innovative product in cooperation with Fair, to a market which is underserved with financing options. We look forward to launching this new product during the next few months,” says Halvor S Lande, CEO of Aprila.
“Aprila Deferred Payment adds further value to our distribution platform and provides recipients of invoices with a completely new opportunity to finance their operations through delayed payments. We expect this new product to “grease the wheels” in the SMB sector, and look forward to offering this quick and innovative access to financing to invoice recipients,” says Christian Aandalen, CCO and co-founder of Fair Group AS.
Aprila will reach a new audience for SMB financing with this product and expects its deferred payments financing option to be introduced in several systems where invoices are generated going forward.
Contact person Aprila Bank ASA:
Halvor S Lande
+47 924 32 305
Contact person Fair Group AS:
+47 924 19 329