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Cirralto (ASX:CRO) - Managing Director, Adrian Floate - The Market Herald
Managing Director, Adrian Floate
Source: Cirralto
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  • Cirralto (CRO) has upgraded its payment services by integrating the Visa Business Payment Solution Provider (BPSP) and MasterCard Business Payment Aggregator (BPA) functionality
  • The upgrade to the payment services of its Spenda platform will provide a single service to replace eftpos, BPAY or credit card payments via the seller’s website or monthly finance plans
  • Cirralto said the increased functionality will allow the company to onboard more customers in a shorter time
  • Further, the company has said that by incorporating a strategic merchant rate it could increase its margins on digital payments by up to 40 per cent
  • Customers will move over to the new service stack in the coming months which the company said should be an easy transition as the upgrade works with and complements the businesses existing systems
  • Shares are trading 1.2 per cent higher today at 8.5 cents each

Cirralto (CRO) has upgraded its payment services by integrating the Visa Business Payment Solution Provider (BPSP) and MasterCard Business Payment Aggregator (BPA) functionality.

The upgrade comes after the company signed the Visa BPSP and MasterCard BPA agreements with Fiserv in December last year.

The Spenda platform includes software to support businesses point of sale, inventory management, procurement, service management, debt collection, payment services, eCommerce and catalogue sharing.

Now, the upgrade to the SpendaCollect, SpendaPay and the Spenda app allows Spenda to be deployed as a single service to replace eftpos, BPAY, credit card via the seller’s website or monthly finance plans.

Cirralto hopes the upgrade will attract customers processing payments through the card networks. In particular, it will focus on targeting the fashion, education, food and food service, home furnishings and specialist retail and automotive markets.

As well as attracting a wide customer base, Cirralto said the BPSP and BPA agreements also increase the speed and scale that customers can be onboarded.

Further, the company has said that by incorporating a strategic merchant rate it could increase its margins on digital payments by up to 40 per cent which would increase the average revenue per user.

Customers will move over to the new service stack in the coming months. Cirralto says this should be an easy transition as the upgrade works with and complements the businesses existing systems, rather than replacing them.

Shares are trading 1.2 per cent higher today at 8.5 cents each at 11:19am AEST.

CRO by the numbers
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