payabl., a European financial services provider, has launched a cloud-based, API-first platform designed to streamline businesses’ day-to-day payment operations.
The new Payment Accounts solution enables businesses to hold, convert and transact in multiple currencies, tackling challenges like high currency conversion costs as well as managing multiple accounts.
payabl.’s Payment Accounts solution offers multi-currency support, enabling businesses to manage EUR, USD, GBP and other currencies seamlessly. With integrated support for cross-border transfers through SEPA, SEPA Instant, and SWIFT, businesses can handle international payments faster and more efficiently, reducing the friction often encountered with traditional banking methods.
Developed by payabl.’s in-house tech team in Frankfurt, the Payment Accounts also aim to simplify cash flow management by centralising financial operations within a single platform. By reducing the need to manage multiple accounts and providing instant settlements, businesses can better focus on growth and day-to-day operations without the hassle of payment delays or high transaction fees.
The platform’s design also meets the growing demand for more efficient financial tools as global trade expands. The OECD expects global trade in goods and services to rise by 2.3 per cent in 2024 and 3.3 per cent in 2025. As cross-border trade becomes more complex, businesses need payment solutions that are adaptable, secure, and scalable.
Diverse needs
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 launch of Payment Accounts builds on payabl.’s existing suite of services, which include card acquiring, POS terminals, and local payment methods. This new product highlights the company’s focus on developing solutions that meet the needs of businesses across various sectors, from retail to e-commerce, by offering practical tools for payment management.
As payabl. expands its client base, which currently includes over 500 businesses across Europe and Latin America, the launch of Payment Accounts marks a step towards offering a more comprehensive suite of payment solutions. Future plans, such as the introduction of corporate debit cards and additional business tools, aim to broaden the services available to its clients.
“Our platform offers EU and UK businesses the ability to manage European payment accounts effortlessly, facilitating everyday transactions both within the EU and globally in various currencies,” Igor Skachkov, chief product officer at payabl., also added. “This launch is a crucial step forward as we prepare to introduce corporate debit cards, alongside a suite of business tools designed to fuel our clients’ success.”
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