Konect provides a platform that compares payment solutions, including card payments, direct debits, and open banking transactions, from a global network of providers to help businesses reduce transaction costs. By streamlining the payment selection process, Konect enables companies to save time and money while ensuring they choose the most suitable payment methods for their needs.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses often struggle to navigate the complex landscape of payment solutions, facing challenges in comparing various options like card payments, direct debits, and open banking transactions from a multitude of global providers. This complexity leads to inefficiencies in selecting the most cost-effective and suitable payment methods.
Solution
Konect offers a platform designed to streamline the payment solution selection process, enabling businesses to compare payment options from a global network of providers. By aggregating and presenting diverse payment methods, including card payments, direct debits, and open banking, Konect empowers businesses to identify the most advantageous solutions tailored to their specific needs. The platform facilitates informed decision-making, ensuring companies can optimize transaction costs and improve overall payment processing efficiency. Konect's service is free for businesses, with fees taken from the payment providers.
Target Audience
Konect primarily targets businesses seeking to optimize their payment processing costs and streamline the selection of appropriate payment solutions, including e-commerce businesses, restaurants, and other service providers.
Features
- Comparison of card payment providers, including processing, terminals, gateways, and currency conversion options.
- Aggregation of direct debit providers, offering solutions for businesses of all sizes, from fully managed services to bureau-only options.
- Comparison of open banking payment providers, highlighting transaction speed and potential cost savings compared to card payments.
- Access to a network of capital providers, including options for cash advances, business loans, and invoice financing.
- Statement review to accurately capture current payment processing costs and conduct a savings analysis.
- Provider quotes based on business requirements, driving competition among providers to obtain the best possible rates.
- Savings analysis presentation, enabling informed recommendations based on capability versus requirements.