Noda, a global Open Banking platform providing technologies to power efficient payments and financial automation for online businesses, has partnered with Pats.lv, Latvia’s leading accounting and invoicing platform for self-employed professionals and small businesses.
The collaboration introduces instant invoice payments to more than 20,000 Pats.lv users, allowing their customers to make direct bank transfers through a single link or QR code, with immediate settlement.
Late payments remain a major challenge for Europe’s freelancers and SMBs, with 43 percent of invoices paid late and one in five self-employed professionals facing cash-flow issues. Traditional payment methods add to the problem, with card fees reaching 3.5 percent and bank transfers requiring manual input and reconciliation.
By embedding Noda’s pay-by-bank technology into invoices, the partnership enables Pats.lv 20,000+ users to send invoices that their customers pay with one click, improving payment speed and removing the need for card terminals or merchant accounts.
For Noda, the collaboration demonstrates how Open Banking can better support Europe’s fast-growing self-employment and micro-business sector. Noda’s pay-by-bank payments have lower fees than card networks, no chargeback risk, higher acceptance rates, and instant settlement. With Noda’s network of 2,000+ banks across 30 European countries, Pats.lv gains the infrastructure to expand beyond Latvia and integrate automated accounting workflows with a seamless, low-cost payment initiation system.
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“Together with Pats.lv and our licensed processing partners in the EU, we are transforming invoicing for thousands of entrepreneurs,” said Lasma Kuhtarska, co-founder of Noda. “Pay-by-bank is emerging as a more secure and efficient payment method. Our users can reduce transaction fees by up to 3.5 percent, settle funds instantly, and avoid the 20 percent of cash-flow issues caused by late payments.
And thanks to this collaboration, all Pats.lv Premium subscribers now get access to pay-by-bank completely free of charge, making fast, low-cost payments available to even more small businesses. This integration demonstrates how Open Banking can remove friction from everyday workflows and support the growing self-employed and SMB sector across 30 European countries.”
“This partnership brings unprecedented speed and simplicity to the way our users get paid,” said executive board of Pats.lv. “Instant invoice payments solve one of the biggest challenges for the self-employed: delayed and unpredictable cash flow. With Noda, freelancers and SMBs can invoice, receive payments, and reconcile income faster than ever. It also strengthens our expansion strategy by giving us access to a unified European payments network.”
Micro and small businesses represent 99 percent of all EU companies and employ nearly half of Europe’s workforce, highlighting the importance of efficient financial operations. As more professionals move into self-employment and flexible work models, and as digital tools lower the barrier to launching a business, the demand for fast, automated financial processes is rising sharply.
Yet late payments, high transaction fees, and slow settlement continue to strain cash flow. Noda addresses this gap by cutting payment costs, speeding up settlement, and giving SMBs and self-employed professionals the liquidity they increasingly depend on.
