Fintecture wants to replace paper checks or manual transfers for B2B payments • ZebethMedia

Meet Fintecture, a French startup that wants to upgrade B2B payments. While many payment companies have focused on B2C payments with Stripe leading the way, B2B payments haven’t changed much over the years.
“In the U.S., there are still a lot of paper checks. In Europe, it’s mostly transfers and manual reconciliation,” Fintecture co-founder and CEO Faysal Oudmine told me.
But this underinvestment in the B2B market is weird as those transactions represent a much larger volume than B2C transactions. That’s because the average B2B transaction is much larger — we are talking about tens of thousands or sometimes hundreds of thousands of dollars.
In order to provide a product that works better, Fintecture is approaching the market in different ways. There’s no single solution that is going to work for all companies.
With its first payment method, Fintecture relies on open banking. The company has signed partnerships with big corporate clients, such as Edenred or Bricoman, so that these companies’ own clients pay them using Fintecture.
When they click on a Fintecture link (or scan a QR code in store), they can then connect to their bank account and confirm the transaction from there. The first transaction requires a bit of onboarding, but it’s already easier with the second transaction.
200,000 companies have interacted Fintecture at some point to pay for products or services. They either initiate an instant payment or a normal transfer with an instant confirmation. Fintecture guarantees that the money will arrive on the big company’s bank account eventually.
Fintecture created a second method so that customers can pay from their banking interface. Essentially, the startup generates virtual IBANs so that it can automatically reconcile incoming payments.
“The payer receives a tracking link that works like a DHL link so that they know what’s the status of their money in the payment flow,” Oudmine said.
Fintecture’s third product is a way to let your customers pay in multiple installments. Fintecture takes care of fraud and payment processing so that you don’t have to use a BNPL provider. Instead, companies can unlock a credit line with their banker directly knowing that the money will arrive eventually. It’s usually much cheaper than borrowing money from a BNPL company.
Finally, Fintecture can also handles refunds. “Here we have a solution that automates part of the reimbursements with integrated KYC and AML features as well as instant payments,” Oudmine said. Fintecture asks companies to connect to their bank accounts to check their identity directly.
Overall, 7,000 businesses collect payments using Fintecture. Around a thousand of them use the product directly while the rest relies on integrations in Pennylane, Libeo, Regate and other fintech products.
Fintecture raised a $26 million Series A funding round (€26 million) this year. Investors include Target Global, Eurazeo, RTP Global, Samaipata, Allianz Trade, Société Générale and various business angels. There are currently 80 people working for the startup — and the company plans to hire another 40 employees.

             Disclaimer: Any Product You Buy Here, Amazon Pays me A Commission With No Additional Fee.

 

This is a must Have Software For Your Home & Business. This software will help your business and make your job Stress Free.

Business and Office Management  Category.

(Old Version) H&R Block Tax Software Deluxe + State 2023 with Refund Bonus Offer (Amazon Exclusive) (PC/MAC Download)

(4265)

20% Off $49.99 $39.97 (as of November 22, 2024 06:14 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Choose to put your refund on an Amazon gift card and you can get a 2% bonus. One state program download included. State e-file sold separately. Reporting assistance on income from investments, stock options, home sales, and retirement Guidance on max... read more

Adobe Acrobat Pro | PDF Software | Convert, Edit, E-Sign, Protect | PC/Mac Online Code | Activation Required

(1101)

39% Off $239.88 $143.99 (as of November 22, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Create and edit PDFs. Collaborate with ease. E-sign documents and collect signatures. Get everything done in one app, wherever you go. Edit text and images without jumping to another app. E-sign documents or request e-signatures on any device. Recipi... read more

Adobe Photoshop Elements 2025 | Photo Editing | 3-Year Term License | PC/MAC | Box with Download Code | Activation Required

(17)

40% Off $99.99 $59.99 (as of November 22, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Remove objects with AI power. Create and control depth with AI. Change the color of any object. Seamlessly combine multiple pictures. Create with modern textures and graphics. Be creative with the web and mobile beta apps. Get a 3-year term license f... read more

Bitdefender Total Security 2024 – Complete Antivirus and Internet Security Suite – 5 Devices | 2 year Subscription | PC/Mac | Activation Code by Mail

(3511)

$74.99 (as of November 22, 2024 05:38 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SPEED-OPTIMIZED, CROSS-PLATFORM PROTECTION: World-class antivirus security and cyber protection for Windows (Windows 8, Windows 8.1, Windows 10, and Windows 11), Mac OS (macOS X Yosemite 10.10 or later), iOS (11.2 or later), and Android (5.0 or later... read more

CLIP STUDIO PAINT PRO - Version 1 - Perpetual License - for Microsoft Windows and MacOS

(3062)

$23.99 (as of November 22, 2024 06:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Create original sketches using your mouse or draw naturally with a pen tablet. Powerful coloring tools make CLIP STUDIO PAINT your all-in-one illustration, painting, manga and comic creation solution. Use an assortment of powerful art tools for illus... read more

CodaKid Roblox Coding, Award-Winning, Coding for Kids, Ages 9+ with Online Mentoring Assistance, Learn Computer Programming and Code Fun Games with Lua and Video Game Programming Software (PC & Mac)

(333)

$59.00 (as of November 22, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CodaKid’s Roblox Lua coding educational software provides 100+ hours of interactive student projects designed to engage and educate kids, teaching them to become creators in their own right. Students learn real Lua coding and video game design using ... read more

Code Python, Award-Winning STEM Courses, Coding for Kids, Ages 10+ with Online Mentoring Assistance, Learn Computer Programming and Code Amazing Games with Python (PC & Mac) (Box Art Varies)

(59)

$59.00 (as of November 22, 2024 06:19 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CodaKid’s Python coding educational software provides 40 hours of interactive lessons designed to engage and educate kids, teaching them to become creators in their own right. Students learn real Python coding and video game design using the IDLE tex... read more

Coding for Kids: Learn to Code Minecraft Command Blocks - Video Game Design Coding - Computer Programming Courses, Ages 9+ (PC, Mac Compatible)

(33)

12% Off $39.95 $34.95 (as of November 22, 2024 05:43 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

✓ COMMAND BLOCKS MINECRAFT for all kids, not JUST GAMERS: Use command blocks inside your Minecraft games to create custom game play. You will be able to build an ice track, send a homing missle to a mob, sword, and much more! Gaming is a popular topi... read more

Coding for Kids with Minecraft - Ages 9+ Learn Real Computer Programming and Code Amazing Minecraft Mods with Java - Award-Winning Online Courses (PC & Mac) [registration_code]

(228)

$59.00 (as of November 22, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CodaKid’s Minecraft Java coding educational software provides 90+ hours of interactive lessons designed to engage and educate kids, teaching them to become creators in their own right. Students learn real Java coding and video game design using the p... read more

Corel Easy CD & DVD Burning 2 | Disc Burner & Video Capture [PC Disc]

(1919)

$14.99 (as of November 22, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Easily copy and burn CDs and DVDs in minutes, right from your desktop; Preserve your photos, secure video backups, and create custom music CDs Capture or import your videos; Plus, author DVDs with chapters, menus and personalized disc labels Convert ... read more