Paytron is a global payment platform that was founded in 2020 in Sydney, Australia. The platform is convenient since it replaces several applications and allows customers to use 1 app instead of 7. The brand was named after the word “patron” that refers to someone supporting a business. This is what the company tries to attain with its financial instruments, helping businesses to get high-quality payment tools. In this way customers can support merchants as they pay. The word “Patron” was modified to “PAYtron” to connect the words “pay” and “patron”.
The founders of the facility are Jaco Veldsman and Francois Henrion, who are highly qualified specialists with a huge expertise in fintech and treasury. When they decided to launch the platform, their primary intention was to help companies and provide them access to financial instruments. The employees of the company also worked previously in famous, reputed companies, where they have accumulated much experience. As a result, this highly motivated team with wealth of knowledge have developed Paytron now.
As was mentioned above, the facility was created to connect the functionality of diverse apps. The application focuses on the simplicity of the procedure, during which the client uploads the invoice into Patron. After the platform reads all basic info of the invoice (date, bank account data, currency), it schedules the payment. Then merchants review all payments scheduled against cash flow needs to edit payment days and inform the client of approval. The client then approves payments for further automatic processing performed by Paytron.
The platform is preferred by accountants who point out the following benefits of the system:
- All financial operations are visible;
- Invoice upload procedures remove the risks of client errors;
- Repetitive data entry is excluded;
- The system removes ABA files that are often exposed to fraudulent activity;
- Various user roles are available, therefore, accountants can control different levels of access.
The platform is engaged in batch processing and approval of domestic and cross-border payments with status tracking. The functionality includes a calendar icon and partial payments when the invoice is split into installments. Though dates and amounts of installments are different, there is a single payment entry for these transactions to make tracking them easier.
The platform deals with 37 currencies. Taking this into account, this is very convenient to make international payments. The integration of the platform with KeyPay is convenient for employers sending payments to their employees with a single click. The facility also delivers corporate cards and the possibility to control expenditures for corporate needs. The platform saves a lot of time and helps to reduce spending. The payments are made on the same day to 180 countries of the world.
Business owners can decide on various user roles in the admin area, allowing users just to view data, or edit it in case such permission is granted. There can be a person responsible for financial governance, or payments approvals, in particular.
Customers find the deals concluded through Paytron more cost-efficient due to better forex rates on the platform in comparison with the banks rates. Xero provides better synchronization of bills when payments are made.
There is simple, transparent pricing that offers different packages. These are Lite, Growth, and Pro versions. The Lite package was developed for sole traders and freelancers, who get such features as unlimited employee cards, built-in OCR and automation of payments and many others. Small and middle-sized enterprises often prefer the Growth package that costs 59 USD per month. 5 users can get access to it. Companies that need to connect more, should additionally pay 7 USD per user. Apart from the features of Let version, the account holders can enjoy global transaction accounts, 2-way synchronization in real time, KeyPay integration, branded payment confirmations, etc. Large companies can use the Pro version with a custom package with API functionality. The demo version is provided for the Growth version.
How to join the system
Those who want to learn more about the Patron program, should call the Paytron consultant on the phone specified on the official website. It is also possible to book a demo with the team. According to the policy of the platform, it is necessary to provide the KYC documentation for approval. The procedure of approval usually takes from 24 to 48 hours.