Payments provider Clik2pay has launched a free mobile app to allow merchants to collect money from consumers when they pay for their purchases securely and directly from their bank accounts, according to a Wednesday (Feb. 9) press release.
Clik2pay’s app was initially available for large businesses, but is now available for the millions of small businesses and micro-merchants across Canada, the company announcement says.
To use the Clik2pay app, businesses enter their customer’s name, mobile phone number and amount owed. Users get a text link or a QR code for customers to scan.
“The high costs of credit card payments, on top of the economic slowdown caused by the pandemic, is really hurting small business,” Mike Bradley, founder and CEO of Clik2pay, said in the announcement.
“Card-based mobile apps can cost 3-4% of the sale, require a separate device to read the card and may result in chargebacks to the business,” he said. “The Clik2pay app helps businesses contain card costs and manage cash flow by providing guaranteed payments in near real time.”
Clik2pay helps businesses bill, invoice and make online payments using multiple layers of bank-grade security and risk management standards from customer bank accounts at a fraction of the cost of other payment types.
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Transaction fees in the Clik2pay app are 1% plus $1 per transaction, with no hidden charges or extra fees. The Clik2pay app is available in the App Store and Google Play Stores.
Related: Clik2pay Launches Refund Processing Feature
In December, Clik2pay unveiled a refund processing feature, designed to allow retailers to refund money using its service. The feature lets business owners issue refunds to customers when products are out of stock or there is a problem with the order, with money going directly into the customer’s account, processed in near real-time.
Clik2pay’s refund option comes at a time when more merchants are offering guarantees and refunds, with 86% of retailers doing so in the second quarter of 2021 compared to 77% in Q1, according to PYMNTS research.
