Empowered by Enfuce’s payment platform, AirPay Digital is able to provide smart business cards featuring automated bookkeeping.
AirPay, which claims to be the first card payment solution to cover the transaction journey from point-of-sale to company accounting, has selected Enfuce, one of Europe’s Fintech firms, as its payment service provider. The partnership “enables AirPay to seamlessly process Visa card payments and accelerate international growth.”
Finland-headquartered AirPay provides smart business cards that “eliminate the manual steps from expense accounting.” When a purchase is made, AirPay transfers the digital receipt from the point-of-sale “directly to a company’s bookkeeping, line by line.” This saves about “nine minutes of tedious accounting work per receipt.”
By teaming up with Enfuce, AirPay “can cost-effectively process card payments and send product-level e-receipt and invoice data to customers.” This enables accurate, automatic entries “on a monthly basis.” AirPay’s solution also “makes purchases hassle-free for employees using the app-linked AirPay Visa card,” the update noted.
Niko Sinervä, CEO and Founder at AirPay Digital, stated:
“Nobody loves to deal with receipts. Businesses pay big money for accounting to process them. European countries one by one are looking for options to move to e-receipts. We at AirPay believe that the change can begin with businesses and front-line services such as AirPay Visa.”
Niko added:
“We have issued our own AirPay Visa payment card. At the same time, included with the card, we offer e-receipt processing service. We deliver receipt data via digital invoice to the customer organisation or straight to them for the accounting department. When a customer receives our invoice the receipt data is already at the bookkeeping. The change is massive since it affects all businesses big and small.”
Although AirPay’s solution digitizes photographed physical receipts, the firm’s aim is “to accelerate the transition to paper-free and efficient receipt accounting in Europe.” It is vital to AirPay’s expansion “to combine the intelligence of its AI layer with the scale and compliance of Enfuce’s Card-as-a-Service solution.”
Denise Johansson, Co-CEO and Co-Founder at Enfuce, remarked:
“We’re delighted to partner with AirPay as they make business card payments seamless and sustainable. Our core mission is to empower brave innovators like AirPay through efficient and simple payment services so they can focus on growing their business.”
AirPay issues payment cards via its own Visa license — and completes its offering via Enfuce’s end-to-end payment capabilities. AirPay leverages Enfuce’s expertise “to guarantee fast time-to-market and high service levels once it expands to geographies outside of Finland.”
Enfuce’s turnkey solution also “helps AirPay maintain a future-proof payment offering.” The company is later planning “to add market-leading mobile wallets to its offering in partnership with Enfuce.”
AirPay serves SMEs for the most part. But they equally “cater to banks and accounting agencies with private-label cards, which are launched through Enfuce’s Card-as-a-Service platform.” Enfuce also manages compliance and key back-office processes, “including fraud and dispute management as well as second-line support.”