ipaymy provides a secure platform that enables small businesses to utilize personal and business credit cards for paying expenses and collecting payments, ensuring transactions are backed by an on-time payment guarantee. By unlocking unused credit limits, ipaymy helps businesses convert fixed monthly spending into credit card rewards, enhancing cash flow and payment flexibility.
Funding
$12.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small businesses often face challenges in utilizing credit cards for expenses and collecting payments due to limited acceptance and associated transaction fees. This restricts their ability to leverage credit card rewards and optimize cash flow.
Solution
ipaymy provides a platform that enables businesses to use their existing credit cards to pay expenses and receive payments, even where credit cards are not typically accepted. By unlocking unused credit limits, ipaymy allows businesses to convert fixed monthly spending into credit card rewards, enhancing cash flow and providing payment flexibility. The platform ensures secure transactions backed by an on-time payment guarantee and offers tools for invoice management and payment collection. ipaymy's AI-powered Fetch technology automates payment chasing, further streamlining the payment process for small businesses.
Target Audience
ipaymy primarily targets small business owners and entrepreneurs seeking to optimize cash flow, earn credit card rewards, and streamline payment processes.
Features
- Credit card acceptance for business expenses and payments, even where cards are not typically accepted
- On-time payment guarantee for all transactions
- Invoice management tools for sending invoices and tracking payments
- AI-powered Fetch technology for automated payment chasing
- PCI compliant network with industry-leading encryption for secure transactions
- Rewards calculator to estimate potential credit card rewards