Crezco is a B2B payments API leveraging open banking to bypass the card schemes, such as Visa and Mastercard. We make bank transfers as convenient as card payments but without the fees.
How did you come up with the idea for the company?
Going to work every day, I would buy coffees in the morning via contactless card payments. It was a seamless checkout experience, but later in the day, I would have to pay invoices as a business owner, which was slow and full of pain points.
I wanted to make B2B payments as convenient as B2C payments, but without the costs. The introduction of PSD2 and open banking was the technological innovation we were waiting for.
More from Interviews
- Meet Abdulaziz B. Al Loughani, Founder & CEO at Online Flowers & Gifting Company: Floward
- A Chat with Bonnie Hatcher, Managing Director of ZAG Drinks, Brewers of the World’s First ‘Social Soft’
- A Chat with Jonathan Friedmann, Co-Founder & CEO at Data Analytics Company: Speedata
- A Chat with Rebecca Worsley, CEO and Founder at Shopify Design & Development Agency: Rainy City
- Meet Tom Griswood, CEO and Founder at Last Minute App: Late Space
- A Chat with Dr Nirusa Kumaran, Founder and Medical Director at Elemental Health Clinic
- A Chat with Aaron Solomon, CEO and Co-Founder at Last Minute Reservations App: Ambl
- Meet Louis Coulon and Marko Vujasinovic, CEO and Co-Founder at HR Tech Company: CleverConnect
How has the company evolved during the pandemic?
It hasn’t affected us much. We were very much in the R&D phase at the start of the pandemic.
What can we hope to see from Crezco in the future?
We believe open banking has years of technological improvements ahead. Each year it will reach new markets and offer new features. Crezco will leverage these developments to offer businesses clear value-add, saving time and money. In the short run, we are focusing on FX payments to complement our free domestic payment solution.