Canada’s PaySprint Launches Subscription-Based Payment Processing

Canadian payments firm PaySprint announced in a Monday (June 13) press release the launch of what it called a “100% subscription-based” global money transfer and payments-processing service.

The service shares the company’s name. The company said the new platform will save users money on transaction fees, and that the wallet-to-wallet services function in both the formal and informal economies.

Users are offered two versions of the company’s services via its website or smartphone apps.

The free version allows money transfers and payments at no cost to merchants who have signed up with the company. The $30 per month or $300 per year option — the company’s website is unclear as to whether the reference is to U.S. or Canadian currency — also allows otherwise-free payments to merchants around the world that are not signed up with the company.

“Small business owners, freelancers, consultants and many business professionals also find PaySprint for Merchant account to be a more affordable method for accepting payments from customers,” the company said in its announcement.

PaySprint noted that it also offers merchants a range of other services.

One offering, called eStore, helps merchants drive traffic to the physical or online stores.

A service called eFX gives merchants access to foreign currencies. Another service, PaySprint eConnect, lets businesses target customers based on the customers’ physical locations. And a service called eCase provides merchants with working capital.

In its online marketing materials, PaySprint calls itself “the fastest and affordable way to send and receive money. Pay invoices and get paid anytime!”

The company touts its service, in addition to retailers and consumers, to contractors, utilities and owners of rental properties.