Paytech Start-up CabbagePay Launches in the US

New York-based start-up CabbagePay has officially launched in the US offering money movement services for businesses.

Firms can integrate CabbagePay's prebuilt CabbageLink technology into mobile apps and online stores to enable "cost-effective" payments.

The company claims that its solution enables businesses to save "significantly" on payment transaction fees by charging "under 1%".

"Moving money is plagued with an excess of fees, fraud, delay," says Pratt Khot, co-founder of CabbagePay. "Checkout times everywhere have been more frustrating than ever due to the pandemic and merchants are paying tens of thousands of dollars in credit card fees."

"CabbagePay is capitalising on this untapped market," he adds. "Our unified Cabbage API supports all tech teams to get setup with less than five lines of code."

The start-up adds that it offers bonuses and one-time discounts to incentivise customers to make the switch from credit cards.

"For frequent shoppers, the minimal amount paid out via one-time bonus yields a significantly higher ROI, as savings per transaction are adding over time with CabbagePay customers," says a business owner accepting CabbagePay.

"Moreover, our checkout times decreased by 60 percent."

(Source: Fintech Futures)