Canadian small-to-medium sized businesses (SMBs) now have access to two new offerings aimed at streamlining money management and payment processing.
This week, Toronto-based Plooto, which helps SMBs automate their accounts payable and accounts receivable operations, has launched a new, security-focused “Plooto Pro” subscription tier.
Meanwhile, United States-based GoDaddy, known for website domains, hosting, and design services, has brought its commerce platform, which includes online and in-person payments processing, to the Canadian market.
Plooto’s new pro tier adds dual controls and single sign-on (SSO) features to its payments automation solution, as well as a new integration with Oracle NetSuite. Dual controls in payment processing are aimed to limit human error and fraud by requiring multiple approvals surrounding changes to financial information, while SSO is an authentication method that requires a user log-in through a trusted third-party service, such as a bank.
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While lower tiers of Plooto’s service offers integrations with Xero and Quickbooks, the new pro tier offers an additional integration with business management software Oracle NetSuite.
“Our new offering enables finance teams to easily scale their workflows and gain the visibility they crucially need into their cash flow,” Plooto co-founder and CEO Hamed Abbasi said in a statement. “I’m thrilled that Plooto is expanding how we support growing SMBs, and that we are the first company to fill this critical gap for Canadian businesses.”
After securing $27 million CAD in its Series B round at the end of 2022, Plooto placed 38th on Deloitte’s Technology Fast 50, boasting an average three-year revenue growth rate of 433 percent.
According to its website, Plooto pro starts at $499 CAD per month, compared to the $9 CAD per month CAD “Go” tier and $32 CAD per month “Grow” tier. The company plans to add new features to this tier, including invoice and multi-step approvals.
First launched as an offering in the United States in 2022, GoDaddy’s commerce platform brings GoDaddy Payments, online pay links, and smart terminals to Canada. The company described it as an all-in-one commerce solution that integrates payment processing and its smart terminal into its existing website and marketing product suite while adding other new payment products.
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With GoDaddy Payments, businesses operating online or in-person can sign up and begin accepting major credit and debit cards, as well as Apple Pay and Google Pay, once approved.
GoDaddy claims its payments offering comes with lower rates than Square, Stripe, and Shopify, offering businesses 2.3 percent per in-person transaction and 2.7 percent per online transaction.
As part of this launch, GoDaddy is also offering a “Smart Terminal,” a point-of-sale device for in-person transactions. The terminal is portable, holds a built-in receipt printer, barcode scanner, and integrates into its e-commerce offerings, according to GoDaddy.
For in-person businesses without a website, GoDaddy has also created a virtual payment terminal and “online pay links,” providing a business with a link to a website that will process a customer’s payment online. The link can be sent through text, email, or turned into a QR code.
“GoDaddy’s connected commerce solution offers Canadian small businesses a powerful, yet easy-to-use commerce platform and tools that are affordably priced,” GoDaddy’s Canadian market lead Young Lee said in a statement.
Feature image courtesy GoDaddy.
