The startup offers an electronic payment management platform that includes features such as virtual accounts, mobile micropayments, and automated transfer services to facilitate seamless money transfers. This platform enables startups, businesses, and public institutions to streamline transaction processes and reduce settlement cycles, ensuring efficient cash flow management.
Funding
$75.3M 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
Many startups, businesses, and public institutions face challenges in managing electronic payments efficiently, including complex transaction processes and long settlement cycles. These inefficiencies can lead to cash flow bottlenecks and increased operational overhead.
Solution
Toss Payments offers a comprehensive electronic payment management platform designed to streamline online transactions and optimize cash flow. The platform provides a range of services, including a payment widget for easy integration, quick account transfers, brand payments for customized payment experiences, and international payment options via PayPal. By consolidating various payment methods and automating transfer processes, Toss Payments reduces the complexities associated with online payments, shortens settlement times, and enhances the overall payment experience for both merchants and customers. The platform supports various payment methods, including credit/debit cards, virtual accounts, mobile payments, and gift certificates.
Target Audience
Toss Payments primarily targets startups, e-commerce businesses, and public institutions seeking to optimize their online payment processes and improve cash flow management.
Features
- Payment widget enabling code-free integration of payment functionalities
- Quick account transfer for streamlined bank transfers without requiring certificates or app installations
- BrandPay enabling merchants to create their own customized in-app payment solutions
- International payments via PayPal, supporting global transactions
- Support for various payment methods: credit/debit cards, virtual accounts, mobile payments, and gift certificates
- Automatic cash receipt issuance
- Escrow service to protect buyers
- Real-time payment and refund processing
- Merchant management tool for managing settlements, payment history, contract information, and VAT reports
- Funds management service (CMS) for efficient tracking of incoming and outgoing payments