Flatpay launches new online payment product ahead of Singles’ Day and Black Friday

Flatpay introduces an online payment solution that reduces costs for Danish businesses and brings transparency to payment fees.

Flatpay is expanding its portfolio with a new online payment product designed to simplify the payments market and make it more transparent. The new solution particularly addresses the needs of small and medium-sized online enterprises (SMEs), which often struggle with complex fee structures and hidden costs when it comes to payments on their web shops.

“The online payments market is characterised by solutions with opaque, fee-heavy pricing structures that make it hard for businesses to see what they are actually paying for. That makes it extremely difficult in practice for SMEs to shop around for the best solution. With our new solution, we have removed the hidden fees and fixed subscription prices, so the customer only has to deal with a single fixed transaction price. We also offer a no-obligation price check, so customers can easily see whether there is anything to save by switching — all to create transparency and better terms for businesses,” says Mads Kolding, Danish Country Manager at Flatpay.

Simpler payment structures — fewer costs

Flatpay’s new product does away with the complex pricing that many businesses encounter in the online payments market. Where competitors often add fixed fees and monthly subscriptions on top of several different transaction prices depending on card type and transaction size, Flatpay offers just two fixed transaction prices — depending on whether the cardholder pays with a corporate/non-EU card or an EU card. This gives businesses a clear understanding of their total costs and the ability to compare easily with other providers.

“We want to make it simple for businesses to understand what they are paying for. For many small and medium-sized online businesses, payment solutions are a jungle of fees, and they spend unnecessary time working out where the money ends up. That is what we want to change,” says Mads Kolding.

Perfect timing before the peak season

The solution launches at a time when e-commerce is at its peak and businesses are preparing for major shopping days such as Singles’ Day and Black Friday. Flatpay’s new product gives SMEs the chance to optimise their online payment solutions just in time for these peak seasons, when many experience a sharp rise in transaction volume.

“Now is the perfect time to switch to a more cost-effective solution, which is also very quick for us to integrate. In a period with such a massive focus on e-commerce, businesses can save large sums by eliminating unnecessary fees and securing a solution that is both financially and technologically future-proof — and we help throughout the entire process,” says Mads Kolding.

‍