Blink Payment partners with Zedonk

Blink Payment enters B2B fashion payments with Zedonk partnership

Integration will enable over 1,000 leading brands to streamline buyer payments

Blink Payment, a UK paytech platform that offers businesses seamless digital payment solutions, today announces its entry into B2B fashion payments through integration with ERP Zedonk, in a move that will enable more than 1,000 leading fashion brands and showrooms to streamline their buyer payments. Zedonk currently services over 1,000 brands and showrooms across 45 countries, many of whom distribute their products to individual retailers. Traditionally, brands have lacked the payment infrastructure that enables retailers to settle invoices via methods other than bank transfer – which can be expensive, slow and lead to late payments.

Bank transfer also typically results in a cumbersome manual payment reconciliation process for brands: according to PwC, on average 30% of a finance team’s time is spent on manual reconciliation, with error rates between 0.8% and 1.8%.

Zedonk’s integration with Blink Payment enables brands to directly adopt open banking and card payments via paylinks connected to an invoice and distribute them through the Zedonk platform. Through payment links, retailers can settle their invoices in a faster, more convenient and more secure way compared to bank transfer.

For brands, the switch to paylinks means a reduction in late payments, plus automated reconciling and far greater simplicity, with their invoicing system directly integrated into their ERP. Research from the Netherlands shows that invoices that contain payment links are paid on average three times faster than those that don’t, and that 40% of customers who receive a payment link generally pay within 24 hours – compared to 5% for traditional invoices.

Blink Payments’ partnership with Zedonk represents the payment solutions provider’s first venture into the fashion industry. The London-based paytech is currently integrated into 25 different enterprise software systems across a range of sectors, including hospitality, retail, automotive and professional services.

Ben Cohen, CEO, Blink Payment said:

“Outdated payment methods and manual reconciliation of invoices places huge strain on both brands’ cash flow
and resource. Payment links are hugely popular in our integrations in other sectors, offering a faster, more secure
and more streamlined option. We’re delighted to now be introducing this solution to brands across the fashion
industry, easily integrated into a market leading software and at scale.”

Marco De Vecchio, Director of Operations, Zedonk said:

“Zedonk was born from the fashion industry. We’ve walked miles in our clients’ shoes and understand the obstacles
they face. Ease of payment significantly increases the likelihood of payment, so our next step was clear. By offering
the flexibility of open banking or card payment through the single automated link, we’re empowering our clients
to expedite the payment process, reduce manual effort, and improve their cash flow.”

– ENDS –

NOTES TO EDITORS
About Blink Payment
Founded in 2012, Blink Payment is a UK payment technology platform. Blink Payment makes accepting and tracking payments easy – whether online or in person, through one simple
platform, anywhere in the world. Our platform supports and integrates more than a dozen payment methods, including open banking, payment links, virtual terminal, card machines and payment API, helping businesses get paid more quickly and securely. We are proud to have people at the heart of everything we do, and our commitment to exceptional customer
service has earned us a 4.6* Rating on TrustPilot.
Brand name is “Blink Payment” (not “Blink” or “Blink Payments”).
www.blinkpayment.co.uk