In the ever-evolving fintech industry, new players are constantly emerging, challenging traditional methods, and introducing innovative solutions to cater to the needs of businesses.
One such player is Amsterdam-based Unique Payments.
The company has set its sights on revolutionising B2B payments by focusing on digitalisation and customer needs.
As businesses seek to streamline their operations and save costs, Unique Payment presents itself as a viable solution.
The Dutch company’s digital payment platform aims to simplify the process of handling multiple payment methods, offering businesses an efficient way to manage their finances.
With the company’s advanced payment capabilities, businesses can make cross-border payments with ease, and the platform’s user-friendly interface makes it easy to manage transactions.
The company’s mission is to provide businesses with access to the most efficient and cost-effective payment solutions.
To learn more about Unique Payments’ mission, vision, and success stories, we reached out to Ceren Danis, Co-founder and CPO of Unique Payments.
This article also explores the company’s payment platform, highlighting its features and how it addresses the challenges faced by businesses in managing multiple payment methods. It also discusses its upcoming funding scenarios.
The birth of Unique Payments
The global B2B payments sector, though vast, is largely offline, with a mere 7 per cent conducted online. Despite the plethora of innovations in the B2C market, the B2B sector lags, creating a gap for genuine B2B-focused solutions.
“What we saw happening then was the less-than-an-ideal mix of B2B needs for payment solutions and adaptations of previous B2C innovations which created a gap in the market for true B2B-centered solutions,” says Ceren.
And here’s where Unique Payments, born from the need for B2B-focused solutions, is well-poised to fill this gap.
The founders of Unique Payments, with a diverse blend of tech, product, and sales backgrounds, came together in Amsterdam during Antler’s Autumn 2023 cohort.
“We became friends on Day 1; however, it took us some time to start working together as a team. Coming from complementary backgrounds, we realised our common passion for B2B payments,” adds Ceren.
Mission and Vision
B2B transactions are complex, involving various systems and software.
“When we talk about B2B payments, we also need to talk about workflows. From payment initiation, until reconciliation, there are multiple systems and software that companies have to use,” explains Ceren.
Unique Payment’s vision is to streamline the complex process of B2B transactions into a ‘single, seamless integration.’
The mission of Unique Payments is to save businesses time, money, and resources by providing a comprehensive solution that caters to the unique needs of B2B transactions.
“Considering the true B2B needs of merchants operating across multiple geographies, Unique provides seamless payment and workflow integrations that save them time, money, and resources,” states Ceren.
What sets Unique Payments Apart?
According to the founder, Unique Payments differentiates itself from existing payment management solutions in three key areas:
- B2B Centricity: Unique Payments is designed specifically for the B2B payment lifecycle, from initiation to reconciliation.
- Solution Agnosticism: It aims to meet merchants where they are, regardless of the payment providers they’re currently using.
- The intersection of Payments and Workflows: It’s not just about payments or workflows; it’s about connecting the dots and automating payment-related operations.
“Lastly, we are not just “payments” or just “workflows”. There are already multiple software solutions merchants use so we connect the dots for them by being the single point of integration and offering automation benefits for their payments-related operations,” clarifies Ceren.
Solving business problems and how
Businesses often face numerous challenges when managing multiple payment methods, providers, and platforms.
In the era of e-commerce and digitalisation, the interoperability of different services and how these providers interact with each other have become critical.
“At Unique, we sit at this crucial intersection. Our merchants usually operate in multiple geographies and have already several payment providers. On the payments side, we help them optimise and save costs by providing a clear aggregated picture of their payment providers,” says Ceren.
“Our dynamic routing allows for the best outcomes for their and their buyers’ payment needs. On the workflow side, we make sure this information gets communicated to the right software stack used internally, whether it be the accounting or ERP software, through automated integrations. We simply streamline all their payments-related operations by sitting on top of the software providers they engage with,” describes Ceren.
For example, by integrating Unique Payment, businesses can potentially save 15 per cent of their current payment costs and increase their conversions by 11 per cent.
Moreover, the platform reduces integration workload by 80 per cent, resulting in substantial savings on development costs.
Overall, integrating Unique Payment could potentially uplift revenue by 20 per cent, says Ceren.
Scalability and Customisability
“Unique is built for growing companies and their expansion needs. Our solution agnosticism specifically supports that,” notes Ceren.
According to Ceren, the platform is highly scalable, allowing businesses to test new markets with no integration needed and easily enable different payment methods and software integrations as they see fit.
” We are built to be modular and meet the merchants where they are in their journey. Since we are also at the beginning of our journey, we are very sensitive to the feedback from the market. We always listen to the needs of our merchants and build solutions accordingly,” adds the founder.
The company is also planning to add more integrations to further streamline the payment operations for businesses. It includes both payment-related software and value-added services.
Funding scenes
“We are the new kid on the block! Since our company’s founding in January 2024, we have been bootstrapping,” Ceren says.
The company plans to raise its initial funding round in June 2024 to fuel its growth further.
Read the orginal article: https://siliconcanals.com/news/startups/new-kid-on-the-block-unique-payments/
