PayToMe.co integrated Stripe Connect to scale globally and enhance its payments solutions for platforms and marketplace.
The integration will facilitate onboarding, global payouts, payment compliance and know your customer processes, with solutions tailored to the needs of more than 100 countries, the FinTech platform said in a Friday (April 5) press release.
“Integrating Stripe Connect propels PayToMe.co into a new era of global commerce,” PayToMe.co CEO Mike Ulker said in the release.
The integration of Stripe Connect enables PayToMe.co to provide a variety of transaction solutions, as Stripe Connect supports major credit cards, mobile wallets, bank transfers and other payment methods, according to the release.
The integration also enables PayToMe.co to add new pricing strategies and business models like invoicing and recurring payments, the release said. PayToMe.co also offers text-to-pay, digital invoicing and checkbook solutions.
The new integration of Stripe Connect joins the Payment-as-a-Service (PaaS), Banking-as-a-Service (BaaS) and Software-as-a-Service (SaaS) solutions already offered by PayToMe.co, per the release. The company is also a reseller partner of Plaid.
“These collective efforts are poised to catapult PayToMe.co into a groundbreaking phase of financial services, unlocking unparalleled growth opportunities, especially within the burgeoning sectors of travel and eCommerce,” the press release said.
PYMNTS Intelligence found that companies are striving to improve payments and cater their businesses to customer bases that value easy buying experiences enabled by the latest technologies.
Embedded payments address these needs and interests, according to the PYMNTS Intelligence report “Platform Business Survey: The Rise of Embedded Payments.” Sixty-eight percent of marketplaces expect their revenue derived from payment acceptance to rise in the next year.
PayToMe.co’s new partner in serving these businesses, Stripe, reported in March that it surpassed $1 trillion in total payment volume in 2023, a 25% increase from the previous year.
The firm also continued to enhance its optimized checkout suite, adding pre-built payment surfaces and flexible user interface components, introducing support for more than 50 new payment methods, shaving time off its Payments Links’ render time, and reducing the odds of errant declines by cardholders’ banks.
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