Lean Payments offers secure payment processing solutions that leverage blockchain technology to enhance transaction transparency and minimize fraud risk. The platform optimizes payment workflows, resulting in faster settlements and improved cash flow management for businesses of all sizes.
Funding
$30K 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 and medium-sized enterprises (SMEs) face challenges with international payments, including high transfer costs (averaging around 5% of international revenue) and slow transaction times (often exceeding 5 business days). Existing banking infrastructure offers limited support for SMEs engaged in global trade, hindering their ability to compete effectively and manage cash flow.
Solution
Lean Payments provides a platform designed to streamline international B2B payments for SMEs, offering virtual business bank accounts to facilitate faster and more cost-effective transactions. The platform enables businesses to collect global payments in as little as one business day, reducing collection costs through competitive foreign exchange rates. By automating payables and integrating with existing accounting systems, Lean Payments helps businesses save up to 80% on typical transfer fees and retain more revenue on currency exchanges. The platform is FINTRAC licensed and regulated, providing bank-level security for all transactions.
Target Audience
The primary target audience consists of small and medium-sized enterprises (SMEs) that conduct international business and seek to reduce the costs and complexities associated with cross-border payments.
Features
- Virtual business bank accounts for receiving and sending international payments
- Support for ACH payments in Canada and global payouts to 140+ countries
- Foreign exchange (FX) rates up to 5x better than traditional banks
- Integration with existing banking systems and accounting processes
- Automated payables feature to streamline vendor payments
- Currency calculator to estimate potential FX savings
- FINTRAC licensed and regulated with bank-level security