As consumers flock to services that make instant peer-to-peer payments simple, financial firms can stand out by bringing that same ease and convenience to business customers.
ABN Amro just launched a business version of its popular peer-to-peer payments app, Tikkie, which lets companies create and send payments requests to customers through text, WhatsApp, email, or QR code.
The new payments app is convenient for both businesses and their clients, head of marketing Moreno Kensmill told Insights Distilled: Companies get paid quickly and easily, while customers can stick to an interface they’re familiar with, instead of filling out a traditional invoice.
The app helps business customers get paid faster, Kensill added, with “a whopping 80%” of requests paid within 24 hours, “mainly due to the convenience factor.”
The app already has 25,000+ business users and the max ceiling for single business payments is €50,000 (compared to €750 for consumers). That’s a much higher limit than banks in the US offer small businesses through instant payments service Zelle.