NEW YORK—CabbagePay has is now available in the United States and has begun offering money movement/payment services for businesses and touting low fees as it seeks to get clients to move away from credit cards.
Firms can integrate CabbagePay’s prebuilt CabbageLink technology into mobile apps and online stores to enable “cost-effective” payments, the company said.
The company claims that its solution enables businesses to save “significantly” on payment transaction fees by charging “under 1%.”
‘Plagued’ With Fees
“Moving money is plagued with an excess of fees, fraud, delay,” said Pratt Khot, co-founder of CabbagePay, Fintech Futures reported. “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 capitalizing on this untapped market. Our unified Cabbage API supports all tech teams to get setup with less than five lines of code.”
The startup is offering bonuses and one-time discounts to incentivize businesses to make the switch from credit cards, Fintech Futures noted.