“Nets Financing has so far been a success story for Nets, not just because of the great reception we have received from the market so far, but also because it has sparked a change of mentality with respect to VAS as a whole. It is becoming more and more evident that VAS are a way to change the conversation and bring us closer to our customers. This way, we have been able to explore a new line of business while at the same time strengthening our proposition in our core products and services. More than half of all new financing deals are now from returning customers, which is a strong testament to the value this joint offering is providing for our customers”
Stefano Rigiroli, Product Manager
In early 2019, with acquiring and terminal markets gradually moving towards commoditization, Nets understood the importance of looking at Value Added Services (VAS) as a way to differentiate its proposition and create additional value for its customers. As the European industry started exploring embedded financing, Nets was at the forefront of this innovative journey in the Nordics. Nets quickly realised such a service could help their customers overcome challenging business conditions, as well as develop their business further, therefore possibly enabling Nets to retain them in the long run.
With almost $1bn funded to businesses globally via its technology, Liberis was able to use its knowledge and experience of transaction-based financing to offer Nets a comprehensive service.
Finally, the embedded nature of merchant financing meant repayments were collected automatically by Nets on behalf of Liberis from the merchant’s card transactions. This seamless process ensured the flexibility of customers’ repayments, as they adjust and flow in accordance with the merchant’s cash flow.
“Nets Financing has so far been a success story for Nets, not just because of the great reception we have received from the market so far, but also because it has sparked a change of mentality with respect to VAS…
With consistent three-digit YoY growth since launch in 2019, the Nets-Liberis partnership has created an offering that has proved to be one of the fastest growing VAS in Nets, and has exceeded expectations in a variety of dimensions:
With Liberis on its side, Nets is planning to expand its Financing proposition into new geographies in 2023 and 2024, embracing the overall Nets Group’s European expansion and consolidation strategy. With the support of Liberis, Nets also have exciting plans to further enhance the customer experience – from launching a self-service journey for merchants to obtain live quotes online to improving the way merchants can track and adjust their repayments. Nets is determined to continue leveraging Liberis’ ability to localise their support and customer service, in line with Nets’ strategy to harness European scale while maintaining a strong local presence towards its merchants. The future potential of Nets Financing cash advance is looking bright – not only in the numbers but also in the intrinsic value it brings to Nets and its customers.
Find out more about our amazing partnership opportunitiesGet in touch