Invoicing hasn’t changed much in the last hundred years. Companies prepare invoices while their customers mail cheques. Even if companies use invoicing software and accept credit cards, they have little visibility into the status of their payments.
High Processing Cost
Fastest methods of payment can cost up to 2%
Lack of Payment Data
Some platforms lack integrated contextual data and invoice data
Settlement could take 2-3 days (or longer for cross-border)
Financial account information stored in unprotected manner
50% of U.S. B2B payments ($12 trillion) use paper checks
Key Benefits to Businesses
nanopay is connecting businesses to make it easier to pay and get paid. With nanoConnect, companies can send payment requests and make payments to vendors—all without exchanging sensitive banking information. Payments are cross-border enabled, fully transparent and enable businesses to better manage cash flow.