Tieto and Siirto partner to improve e-invoicing experience in Finland

Finnish payment giant Siirto is partnering with Tieto to integrate instant mobile payments directly into the e-invoicing process. For retailers and service providers, this moves the 'billing' experience closer to a point-of-sale transaction. Instead of customers logging into bank portals to manually pay invoices, they can now settle debts instantly via a mobile app with over 1 million active users. This partnership aims to reduce the friction between a customer receiving a bill and the business receiving the funds. By leveraging real-time payment rails, the system provides immediate confirmation of payment, which helps operators manage cash flow more predictably. While currently focused on the Finnish market, this represents a broader global shift where traditional invoicing is being replaced by 'request-to-pay' models. For merchants, this means lower administrative costs related to payment reconciliation and a decreased likelihood of late payments caused by cumbersome banking interfaces. It bridges the gap between traditional credit-based invoicing and the convenience of modern digital wallets.

Source: Finextra — Lending

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