De Kwakel, 19 October 2021 – Every day in the horticulture sector, big risks are taken by delivering flowers and plants on credit, often resulting in uncollectible invoices. With the launch of ByRival, this will belong to the past. ByRival enables entrepreneurs to settle financial transactions easily and reliably. ByRival launches on the European market and is already available in 17 countries. This availability will be rolled out further in time, given the ambition to become the world leader in international payment solutions for the horticulture sector.
Every business wants to receive payments quickly, easily and securely. That’s easily said, but it’s a serious challenge. Mark Weitjens, director of ByRival: “ByRival makes it possible to collect payments automatically from customers through European B2B Direct Debit (SEPA Direct Debit B2B) and Credit Card, at the agreed time. Long payment terms belong to the past. This improves the cash flow of an entrepreneur considerably and he runs less risk of non-payment. ByRival is the solution that many companies in the horticultural sector have been waiting for, so we get a lot of positive reactions.”
To collect the transactions safely and according the rules, ByRival works together with CM.com, a payment service provider certified by the Dutch Central Bank. Robin Jongkind, co-founder of ByRival explains: “Our payment solution is completely built on the future and expected rapid growth. In addition, Europe imposes strict requirements on payment service providers, which is why ByRival has chosen to work with an external partner. To meet all requirements, KYC (Know Your Customer) checks are performed on all suppliers, among other things.”
Doing business without risk
High credit limits are not unusual in the horticulture sector. The transactions collected by ByRival are reinsured by credit insurer Atradius. In this way, invoices are insured. ByRival has a specialized team that takes care of credit research and providing credit limits. Suppliers will always have a complete overview of their insured customers and the insured amounts and can do business without risk.
ByRival is available to growers, wholesalers, exporters, florists, transport companies, suppliers and service providers and can be easily integrated into most business software.
Would you like more information? Check out www.byrival.com, call +31 88 70 70 480 to schedule a (virtual) appointment with one of our employees or visit ByRival at the IFTF in Vijfhuizen at booth B1.41.