POM
"Our primary goal is to help as many people as possible to overcome their frustrations about paying invoices"
Who is POM? An introduction.
POM optimizes the invoicing process for both sides of the market: billers and customers. POM’s invoice payment services allow companies to both significantly lower their collection costs and speed up receivables. At the same time their customers are able to enjoy POM’s superior payment experience in a multichannel environment (across e-mail, mobile, messaging and paper).
POM's customers are active in a wide range of sectors: from energy companies to public institutions. POM’s mission is to eliminate useless time and effort spent on inefficient systems and by doing so to free up space for the more important things in life. That’s why POM stands for Peace Of Mind. POM is based in Antwerp, Belgium and was founded in 2014.
The payment challenge
As POM is active in a two-sided market, they face the challenge to convince both businesses and consumers to start using payment solutions. Thanks to a handful of early adopters, POM is now able to provide businesses with compelling arguments to choose for POM.
In order to convince end users to pay through POM, it is crucial to gain their trust. Therefore they provide our clients with marketing & communication tools to clearly explain the benefits of POM to their customers.
70% of recipients pay within 10 days,
of which 40% even immediately
POM's clients are able to accelerate their incoming payments after the introduction of POM. The actual impact depends on the sector, but we see that on average 70% of those who pay via POM pay their invoice within 10 days upon receiving it. 40% of them pay immediately (on the same day they receive the invoice). With regard to adoption, we see that the share of customers who pay via POM is increasing every month (with percentages up to 10% growth per month in the first year after the introduction of POM).
Strong partners
POM entered a partnership with Buckaroo
"The cooperation with Buckaroo allows us to better serve our customers and respond to their changing needs. Thanks to Buckaroo, it has become easier, faster and safer to pay via POM. Moreover, Buckaroo’s flexible mindset fits well with POM’s mission to help overcome frustrations about invoices and to make the entire payment process as smooth as possible – and even enjoyable. We’re very pleased with the collaboration so far and we’re looking forward to keep innovating together for the benefit of our customers."
— Johannes Vermeire, CEO bij POM
Solutions and results
POM’s payment solutions are aimed at improving the payment experience for invoices, fines, taxes, membership fees, or basically any document which requires a payment. Businesses can sign up to receive payments via POM either through a direct integration (via API), or through one of our partners which have integrated POM in their software.
"We strive to make it quick and easy to integrate POM in existing systems and workflows, with minimal IT impact and investment on the client’s side. For our clients, offering POM as a payment method is a way to optimize their invoice collection process and at the same time to improve the payment experience for their customers."
POM's ambitions for the future
"Our primary goal is to help as many people as possible to overcome their frustrations about paying invoices." That’s why convenience and ease of use is at the center of POM’s payment solutions.
"Moving forward our ambition is to further accelerate our growth in terms of transactions, clients and next to direct API based integrations with large clients, we are also looking to expand the number of connections with software tools for SME’s, so more and more small organizations can easily get access to POM’s payment technology."
Inspiring cases
The ideal payment method differs per situation, product or service. Because of our wide range of payment methods and unique features, we at Buckaroo are always able to offer you an appropriate solution. Let the following cases inspire you.
POM uses Buckaroo Wholesale Solutions
POM was looking to broaden its current offer in order to remain competitive and scale up more quickly in Europe. For this reason they have chosen to make use of Buckaroo's whitelabelled Wholesale Solutions. This enables POM to offer payment services under their own label to their customers and partners.