Companies are actively using the new ‘Request money’ function

At the end of last year, LHV was the first in Estonia to introduce an innovative way to request money, i.e., the so-called ‘Request money 2.0’ solution, which allows you to use the ‘Request money’ function between all banks. The first few months of the year have shown that business clients have been eager to take advantage of this opportunity.

At the end of last year, we updated our popular ‘Request money’ solution to its new, the so-called 2.0 version. This meant that the long-awaited opportunity to conveniently request payment from clients of even other banks had arrived. Even better – you can request money by specifying the right amount, writing a payment description, and having the app instantly generate a QR code, which everyone can scan to open a pre-filled payment order and make the payment in mere seconds.

There is no need to conclude any separate agreements: all you need is a smartphone and the LHV mobile app. It functions exactly the same as with private clients – you must tap the ‘Request money’ button in the app, specify the correct amount and payment description, and choose how the money is requested. It is possible to send the link to request money via a text message or e-mail, or to generate a QR code that the client can scan and open the opportunity to pay.

It is a particularly good solution for smaller entrepreneurs and merchants who sell their services or goods on an occasional or seasonal basis. For example, it is a good fit for those who sell their products or services at fairs, concerts, festivals, or other events, as well as for beauty service providers, trainers, etc., who can conveniently charge the client for the service they offer, with a suitable description and amount. If required, QR codes can be generated in advance, printed out, or otherwise displayed at your point of sale for clients to scan.

For example, recently, we were happy to see how the student company Joogul used exactly this payment collection option at a student company fair.

‘We, the student company Joogul, produce collapsible water bottles with a multifunctional storage box and a carabiner – the ideal solution for active and mobile people who appreciate convenience and quick solutions. In the start-up phase of a company, when it is important to invest every euro in the development of the business, renting a payment terminal is a considerable cost. That is why we have chosen LHV’s QR code payment solution – it is fast, convenient, and efficient! This way, our Jooguls reach clients even more quickly and smoothly, providing a shopping experience that is as pleasant as using the product. LHV’s smart solution for a smart product!’

We wish great success and high sales to all our enterprising clients!