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Receive and make payments faster with Crezco

Inform Accounting Last updated: January 12, 2023

We’re really excited to be partnering with an award-winning payment solution, Crezco. Winner of Xero’s Emerging App Partner of the Year 2022, Crezco is a great solution in difficult times to help you get paid faster.

We started using Crezco when we heard they processed invoice payments for free. It sounded too good to be true, but after testing some payments ourselves, we can confirm it is in fact true and it’s incredibly user friendly.

Our payments were deposited into our account instantly, so we believe that it can really benefit the cashflow of our clients as well as saving a ton of time.

Getting invoices paid faster

Crezco is an account-to-account payment solution that processes invoice payments through Xero, QuickBooks, Zoho and QuickFile and their own platform. From raising an invoice to receiving payment, their whole process is sleek and user-friendly. Crezco operates on open banking rails, so what this means is that you get your payments as soon as your customer clicks “Approve payment”.

Via Crezco’s single or recurring payment solution, they can eliminate card fees and slow settlement times, saving you and your clients money, time spent reconciling, and improving cash flow. The best part? It only takes about 3 – 5 minutes to fully set up on their platform!

Track your payables, and make payments instantly

Crezco also offers a single and bulk* payment product that allows you to pay suppliers (and staff) all around the world. Via Crezco’s batch payment solution, they can eliminate slow and tedious payments processes at minimal costs, saving you and your clients money and time spent double checking payee information.

*Bulk payments require the premium pricing plan, currently at £20 + VAT per month.

International payments

Have international suppliers to pay? No problem - Crezco supports over 70 currencies, in more than 100 countries, and is completely transparent about its fees before you make payment.

Is it safe?

With cyber crime on the rise, it’s important to ask - is the software I’m using safe?

Open banking has been deemed to effectively be as secure as your standard online banking which has become a pillar of normality in people’s lives today. The open banking API endpoints are built by the banks themselves and are therefore put through rigorous testing by both the banks and the authorised third parties, and they make sure that the API meets all regulatory requirements as well.

Crezco does not have access or the ability to see your password when you log in to your bank account.

Open banking exists within a bank’s established and highly secure technology framework, and therefore the APIs themselves are an incredibly secure way to transfer data. In essence, if open banking becomes insecure, there is likely more than just an open banking issue at your bank to be concerned about.

The important thing to keep in mind is that nothing can happen over open banking payments without your approval and permission. This is aided by the recently applied SCA Compliance. Therefore, you can rest assured knowing that any payments occurring via account-to-account (A2A) are exactly what you yourself approved.

A great benefit to this is that businesses which do choose to use A2A are likely to see a reduction in fraud over time, which can lead to a reduction in chargebacks, all while maintaining an efficient customer experience.

What’s next?

Save your money and time while improving cash flow by signing up with Crezco.

Feel free to email their customer success team! You can email either lara.kotze@crezco.com or ben.moffat@crezco.com.

You can also take a look at the helpful articles below for more information.

Create your profile with Crezco here

How to connect your bank account

Xero

How to connect to Xero

How to raise an invoice in Xero with Crezco

Setup repeat payments with Xero

QuickBooks

How to connect to QuickBooks Online