Open Payments provides a unified API that connects businesses to multiple banks, simplifying B2B payment processes by eliminating the need for diverse integrations. This platform enhances financial management by offering real-time cash flow visibility and reducing transaction costs, enabling seamless invoicing and payouts without intermediaries.
Funding
$3.1M 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.
ANFounders
Product
Problem
Many businesses face complexities and inefficiencies in managing B2B payments due to the need for multiple integrations with different banks. This fragmented approach leads to increased transaction costs and limited real-time visibility into cash flow.
Solution
Open Payments offers a unified API that connects businesses to a network of banks, streamlining B2B payment processes. The platform eliminates the need for diverse integrations, providing a single point of access for managing invoicing, payouts, and bank payments. By removing intermediaries and simplifying workflows, Open Payments reduces transaction fees and enhances financial management with real-time cash flow visibility. The solution supports both domestic and cross-border payments with same-day settlements and real-time exchange rates.
Target Audience
The primary target audience includes businesses seeking to streamline their B2B payment processes, reduce transaction costs, and gain real-time visibility into their cash flow.
Features
- Unified API for connecting to multiple banks, removing the complexity of separate integrations
- Streamlined payment flow for invoicing, payouts, and bank payments
- Real-time cash flow visibility and account reconciliation
- Support for both domestic and cross-border payments
- Same-day settlements and real-time exchange rates for cross-border transactions
- Account verification to ensure accurate bank details
- ISO file replacement for simplified integration and increased flexibility
- Integrated AML-monitoring for all payments