Bookipi launches invoice payments platform BookiPay in Australia

Australian fintech Bookipi has launched its new invoice payments platform, BookiPay, in Australia.

Bookipi is a suite of business products targeting small businesses and freelancers that raised a $1.6M seed investment round in October 2020.

Founded in 2018, Bookipi now facilitates $5.4billion worth of global transactions across its platform.

BookiPay tackles the late invoice payment problems killing Australian small businesses. BookiPay offers more flexible payment options using Fat Zebra’s payment infrastructure.

Bookipi CEO Tim Lee said about the launch, “Australian small businesses rely on their invoices getting paid in full and on time. Too many small businesses are closing their doors because they aren’t getting the income that they need to survive.

“BookiPay makes it easier for our customers to pay their invoices. We provide a payments link in the invoice that customers can use straight away. They won’t need to use external payments product and they won’t have to re-enter the merchant’s payment details.”

Half of participating Australian businesses reported that over 40% of their invoices are paid late in the Australian Government’s Payment Times Inquiry.

According to a Prushka report, almost half of small and medium businesses reported that they needed to ask clients more than twice to get their invoices paid.

Fat Zebra is a global, scalable payments platform that focuses on giving its partners local market access through a single global payments network.

Regarding the partnership, Tim Lee said, “Fat Zebra is an amazing partner. They have a strong focus on security, reliability, and ensuring a great user experience. Their online payment gateway provides us with the features and tools to enable a smooth experience for our merchants.”