Payments Methods

With hundreds of payment methods available to a global audience, you must select the best option for your business. As a business owner, you know that keeping your company expenses in line with your budgets is vital to your success.

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You can choose from a variety of trusted and proven payment providers that will streamline your business payments and integrate seamlessly with your accounting software at the same time. It can do all of this and still give you the convenience of personalized company credit cards.

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Payment methods in the Top Providers

Soldo is an online payment solution with zero risks as it is a fully prepaid banking option. It is an excellent solution if you have multiple traveling employees or regular out-of-pocket expenses that you need to reimburse. Soldo has three plans you can choose from depending on your business and the number of cards you’ll need.

The provider offers accounting integration and features that give your finance team real-time access to all expense transactions. With unlimited corporate debit cards, you can track and trace each person’s expense record daily.

As you only pre-load the cards with the exact amount needed it cuts down on potential risk and unnecessary spending. You can set up rules on each user’s card profile that can either permit or prevent specific usages such as online purchases or cash withdrawals. Your team can photo-scan all receipts and invoices as they receive them and upload them to Soldo. It will immediately be transferred and recorded on the back end accounting software.

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Pros

  • Robust expense management features
  • Fully online solution with the mobile-optimized app
  • Pre-paid solution for company credit cards

Cons

  • It does not offer multi-currency accounts for international payments
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Qonto is a business payment provider that can open doors for you in Europe by completing your entire business registration in France online. On top of providing you with share certificates within 72 hours, you can fund your new business account conveniently using SWIFT or SEPA transfers from the United States. Qonto will release your share deposit to your new account and you can start operating and making payments in local currency.

You have a 30-day free trial to explore the Qonto platform which is an excellent and risk-free option before committing to one of its plans. Qonto seamlessly integrates with your existing accounting and also offers digital upload tools for invoices and receipts. It’s a real-time upload function that will instantly update your back-end accounting and separate the VAT amounts into the correct ledgers.

You have unlimited access to Mastercards for your team. It allows you to set transaction limits on each employee card and manage your expenses efficiently. The transactions update to the Qonto platform in real-time. It gives you more control to mitigate risk and curb your expense accounts abroad. Should any cardholder breach your rule, you can instantly stop that specific card.

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Pros

  • Offers four payment plans starting from €9 per month after 30 days of the free trial
  • Fully automated accounting integrations
  • Digital receipt uploads

Cons

  • All accounts are in EURO only
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Holvi is a trusted and well regulated cloud-based platform that can help you manage your payments. It offers credit and debit card management, digital customized invoicing, accounting integrations, and expense tracking.

With pricing starting from as little as US$11 per month per user, it is an affordable and effective solution for start-ups and freelancers. It also has a free version for freelancers that makes minimal international payments monthly.

Holvi is an excellent payment solution for the United States-based businesses that make regular payments to suppliers or employees in EURO, as that is Holvi’s primary currency. It is advisable to use Transferwise to fund your Holvi account for international payments. You can calculate the exact amount that will be converted and pay USD via Transferwise. The funds will land as EURO in your Holvi account, from which you can then make all relevant payments in local currency to your payees.

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Pros

  • It is a fully online payment solution
  • It integrates with accounting software

Cons

  • No bulk payment features
  • No risk management features
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Payments methods and beyond

As you can gather, each payment provider has a core focus in its product delivery, and you’ll need to find the one that is best suited to your company’s needs. What is vital to keep in mind is that you have many payment providers that can streamline your company expenses and reports in ways that traditional banks can not compete with. Furthermore, you can count on massive cost reductions in your overall expenditure on banking and accounting fees. On top of that, you are more in control of your company’s finances with real-time views of transactions and the ability to cap each credit card. The advantages far outweigh any disadvantages when it comes to moving your expenses to more forward-thinking alternative payment providers.

Compare the best Business Fintech Banks in the EU to see the leading digital business banking apps.