Noda partners with Pats.lv to enable instant invoice payments

By Vriti Gothi

Noda has partnered with Latvian accounting platform Pats.lv to enable instant invoice payments for more than 20,000 freelancers and small businesses, aiming to alleviate widespread cash-flow challenges faced by Europe’s self-employed sector. Under the collaboration, Pats.lv users can generate invoices that support one-click bank transfers via link or QR code, with settlement occurring immediately.

Late payments remain a structural issue for small enterprises in the region, with industry estimates suggesting that 43% of invoices are paid past due dates, and one in five self-employed professionals face recurring cash-flow disruptions. Traditional card-based acceptance adds further pressure, with fees reaching as high as 3.5% and funds typically settling with delays. Manual bank transfers also require customer input and follow-up reconciliation.

The integration embeds Noda’s pay-by-bank technology directly into Pats.lv’s invoicing workflows, replacing manual processes with automated initiation and settlement. Noda’s network spans more than 2,000 banks across 30 European markets, giving Pats.lv a broader addressable base as the platform scales beyond Latvia. The solution also removes the need for card terminals or merchant accounts and reduces exposure to chargebacks.

“Together with Pats.lv and our licensed processing partners in the EU, we are transforming invoicing for thousands of entrepreneurs,” said Lasma Kuhtarska, co-founder of Noda. “Pay-by-bank is emerging as a more secure and efficient payment method. Our users can reduce transaction fees by up to 3.5%, settle funds instantly, and avoid 20% of cash-flow issues caused by late payments.”

Micro and small enterprises make up 99% of companies in the European Union and employ nearly half the workforce. As more individuals move into independent work and digital tools lower the entry barrier to commerce, financial workflows that accelerate liquidity and reduce friction are gaining strategic importance. The partnership illustrates how Open Banking-based payment initiation tools are moving into practical use cases, particularly for smaller organisations that lack dedicated finance teams and rely on faster payment cycles to operate effectively.