CareCredit - Women's Health April 2024

Klarpay Debuts Accounts Designed for Entrepreneur Customers

Swiss financial institution Klarpay has debuted a financial solution for entrepreneurs.

The company’s Entrepreneur Accounts are designed for business founders, ultimate beneficial owners and senior managers who are already Klarpay customers, the firm announced in a Tuesday (Feb. 27) news release.

“Klarpay’s Entrepreneur Accounts provide a comprehensive array of exclusive benefits designed to help entrepreneurs better manage finances and streamline transactions,” the release said.

“This service allows entrepreneurs to set up multiple accounts customized to their business needs. It enables them to segregate personal and business expenses efficiently and execute transactions, such as payments, transfers and withdrawals, all while monitoring and managing their activities effortlessly through Klarpay’s intuitive dashboard.”

PYMNTS spoke last year with Klarpay CEO Martynas Bieliauskas soon after the company announced it had achieved profitability for the first time.

He told PYMNTS then that moving toward fully automated processes will be a focus for the company in the future. 

“Automation makes a giant impact both from a customer’s experience but also from a cost perspective,” he argued, noting that it helps the company avoid having to open a call center with numerous document checkers when machines can carry out those same tasks in a much shorter time frame.

Elsewhere in the entrepreneurial space, PYMNTS recently looked at the use of ad hoc payments by small and medium-sized businesses (SMBs) to sustain their cash flow. 

According to “How Instant Ad Hoc Payments Drive SMB Success,” a collaboration between PYMNTS Intelligence and Ingo Payments, 65% of SMBs’ total accounts receivable (AR) volume comes from ad hoc payments, which are critical for revenue streams, especially for services and products sold. 

“However, manual procedures in processing these payments pose challenges for SMBs, resulting in delays in receiving payments,” PYMNTS wrote.

“Recognizing the importance of real-time payments for their cash flow, SMBs of all sizes embrace instant payment solutions to improve cash flow management and gain a competitive advantage.”

Use of these payment solutions varies according to the size of businesses, with larger SMBs getting 37% of their ad hoc payments instantly. 

“On the other hand, smaller SMBs, generating less than $1 million but more than $100,000 in revenue, only receive 25% of these payments instantly, suggesting that smaller SMBs are more likely to depend on traditional accounts receivable processes,” the report said.