back Back

tomato pay to offer low-cost digital payment solution for SMEs

By Megha Bhattacharya

June 30, 2021

  • Europe
  • Tomato
Share

A new QR-code payment and invoicing app, tomato pay, has been launched to offer an easy and affordable way for small businesses and sole traders to receive digital payments from their customers. tomato pay has been created in response to growing demand from SMEs for more affordable non-cash payment solutions and from customers for greater choice when paying for goods and services.

The QR-code based app is free to download, free for consumers to use and the most cost-effective way for businesses to receive payments – almost instantly – into their bank account. It has no card minimum fees, or chargebacks, easy refunds and confirmation of all transactions for both customer and business.

tomato pay’s founder and CEO Nicholas Heller explains: “Community has never been as important as it is today and watching the business and sole trader community struggle throughout the pandemic has spurred many of us to support our local communities and businesses. However, people still want to be able to pay how they choose.

“Our research shows that many small businesses can’t justify the costs of offering card payments, but also, that there is support for QR-code based payments which are far cheaper for small businesses to implement, with four in ten people saying they’d find it easier to pay a small business using a QR code.

“tomato pay is an app designed specifically to support small business owners and remove the headache of finances – starting by ensuring that more of a payment goes to the business and not their payment providers.”

Previous Article

June 30, 2021

Prime Trust bolsters regulatory bench with new leadership appointments

Read More
Next Article

June 30, 2021

Orum secures $56mn in Series B co-led by Accel and Canapi Ventures

Read More






IBSi Daily News Analysis

June 21, 2024

Europe

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

MECCA & Adyen to offer a seamless payments experience in Australia

Read More

June 21, 2024

Vipps, MobilePay launch cross-border P2P payments in the Nordics

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023