European financial service provider payabl. has launched its cloud-based, API-first solution Payment Accounts to help businesses manage their day-to-day payments with greater ease.
Payment Accounts is designed to help businesses of all sizes manage payments via a single platform. payabl. intends to help businesses by addressing challenges such as high currency conversion costs, foreign exchange risks and managing multiple complex bank accounts.
The company will enable businesses to hold, convert, and transact in multiple currencies – including EUR, USD, and GBP – while facilitating cross-border transfers via SEPA, SEPA Instant, and SWIFT.
Developed by payabl.’s in-house tech team in Frankfurt, this solution aims to reduce transaction fees, expedite international payments, and simplify cash flow management.
Ayse Moudourou, payabl.’s Head of Banking, said: “As an omnichannel financial solutions provider, our objective is to address the diverse needs of our customers comprehensively, and in the fast-paced industries we serve, efficient and responsive payment solutions are essential.
“With our deep understanding of our customers’ payment flows, we’ve been able to design a product that meets their demands more swiftly and effectively than traditional banking methods. This launch enables us to offer a solution that is not only tailored to their needs but also enhances their ability to operate in a rapidly evolving market.”
The latest launch of Payment Accounts complements the work payabl. has achieved this year to consolidate its position in the European market.
At the start of the year, the company received an electronic money institution (EMI) licence in Cyprus, whilst also integrating instant payments from Zimpler in May for accelerated bank transfers.
Payment Accounts will now look to streamline its business partners’ growth, with one partner, Flower O’Clock, already revealing how the service has enabled the company to not worry about payment times anymore.
Mariana Vorobeva, Owner of Flower O’Clock, said: “Managing our finances used to be a time-consuming process, especially when it came to paying suppliers and keeping track of different accounts.
“With payabl.’s multi-currency account, especially when coupled with their POS system, we’ve been able to consolidate everything into one platform, making it much easier to manage our cash flow and payments.
“The fast onboarding and instant settlements mean we can focus more on running our business rather than worrying about payments delays. It’s been a significant improvement for our operations.”
