Byppay is a decentralized application that facilitates direct invoice payments between clients and suppliers, eliminating the need for traditional bank loans or factoring services. This platform reduces transaction costs by at least 75% and accelerates payment processing to 1-2 days, addressing the cash flow challenges faced by businesses due to client payment delays.
Funding
Funding not disclosed
Founders
Product
Problem
Many businesses, especially SMEs, face significant cash flow challenges due to delayed payments from clients, which can impact their ability to pay suppliers and maintain operations. Traditional financing options like bank loans or factoring services can be costly and time-consuming.
Solution
Byppay is a decentralized application designed to facilitate direct invoice payments between a client and a supplier, bypassing traditional intermediaries. The platform connects clients and suppliers, enabling the client to directly pay the supplier's invoice. Byppay aims to reduce transaction costs and accelerate payment processing, offering a faster and more economical alternative to bank loans or factoring.
Target Audience
Byppay primarily targets small and medium-sized enterprises (SMEs) that struggle with delayed client payments and seek a more efficient way to manage their accounts payable and receivable.
Features
- Invoice upload via photo or file upload
- Automated form filling with invoice information
- Direct connection of clients and suppliers within the app
- Live chat feature for clients, suppliers, and the business to negotiate terms
- Generation of a Byppay contract to ensure payment security
- Mobile application for convenient access