INGOGO Wants to launch B2B Payments – Right away
ingogo is launching a new mobile app for small businesses that need to make payments faster and more efficiently. Dubbed the Pay RIGHT AWAY platform, the service is now live to businesses after remaining in beta phase since February of this year, reports in the Herald Sun said.
According to ingogo founder and CEO Hamish Petrie, Pay RIGHT AWAY’s emergence from pilot testing is a sign that companies embraced the technology. “The feedback from the initial integration and beta testing proved that this payment solution is long overdue in the SME market,” he said, “as busy business owners don’t have the time or resources to manage their day-to-day invoicing and account collections.”
The app is launching with the help of cloud-based accounting services firm Xero. “The service will provide owners with a tool to free themselves from unnecessary admin and spend less time chasing outstanding payments, and with no monthly terminal rental fees, the solution is completely cost-effective,” Petrie added.
According to reports, the app will support payments from major credit card companies and will use contactless payment technology, integrating with Tap & Go, PayWave and others.
The mobile B2B payments technology offers next-day payment settlement and allows small business owners to more accurately manage their cash flow, the company said, allowing for faster payment reconciliation and a reduction in days outstanding for invoices.
While the B2B payments app seems a far cry from ingogo’s flagship taxi-hailing app, the two aren’t so disconnected. Reports said ingogo launched the world’s first app-based mobile payment service in 2013, a tool first installed at taxi terminals.
This article first appeared on pymnts.com. Ingogo is a client of ATP Innovations, Australia’s leading business incubator.