The authorization shows that Book Salon is a regulated and notable company that can safely execute and administer payments processes. This accomplishment will smooth their path to international expansion, as over 2,000 beauty salons in Finland, Denmark, Norway, and the UK are already using Book Salon’s booking and payment services.
HELSINKI (17.8.2022) – Book Salon, a Finnish payment and booking service provider specializing in hair, beauty, and wellness companies, has been authorized as a payment service provider by the Finnish Financial Supervisory Authority. The term “payment service” refers to, for example, the execution of a payment transaction, issuance of payment instruments, and the transmission of money.
“We are thrilled for this authorization. The fact that we passed their strict protocol process with flying colors proves that Book Salon is a company that is compliant with good processes, solid GDPR, and that we are a financially stable company in the field of payment processing,” says Harri Myllylä, CEO of Book Salon.
The authorization plays a critical role in Book Salon’s well-started internationalization, as they can get authorized to act as a payment service provider in other EU countries with a so-called passport procedure. With the authorization, Book Salon can show potential customers and other stakeholders that it is a compliant and financially solid company, worthy of trust as a business partner.
“There are a lot of players in the field of payment service providers – and not all of them necessarily have standards as high as we do. As a company that is recognized by the Finnish Financial Supervisory Authorities, we can prove to our clients and collaborators that we are a safe, regulated and stable company in a highly fragmented and competitive market,” Myllylä concludes.
Book Salon has been a fast-growing startup from the beginning. In only 18 months, its ARR is over 1 million euros and it has over 2,000 clients in Finland, Denmark, Norway, and the UK. Their Net Promoter Score (NPS) is an outstanding 79, and less than 1% of their clients churn.