Fintech CabbagePay has begun its expansion strategy across the US in a bid to build prominence in several major sectors such as retail, healthcare and finance.
Tailored for easy integration, CabbagePay’s payment rails are pre-built and can be used with mobile apps or online stores which, according to the company, would lead to reduced transaction fees.
Pratt Khot, Co-Founder of CabbagePay, commented: “Moving money is plagued with an excess of fees, fraud, delay. Checkout times everywhere have been more frustrating than ever due to the pandemic and merchants are paying tens of thousands of dollars in credit card fees.
“CabbagePay is capitalising on this untapped market. Our unified Cabbage API supports all tech teams to get set up with less than five lines of code.”
The company wants to incentivize customers to switch from credit cards to its payment solution, as it claims it would reduce purchasing times.
“We have built a foundation to take on a serious chunk of the total addressable market in the US. The card payments industry here is the biggest market of all, and we are poised to grab this opportunity,” Khot concluded.
