Cirralto targets $225 million monthly payments market with new SpendaCollect platform

The digital payments company is already processing about $1.7 million directly through its new platform.

Cirralto - Cirralto targets $225 million customers’ payments market for upgrade to SpendaCollect; $1.7 million already being processed through new platform
A large number of businesses have transitioned consumer payments to digital and contactless transactions to fight COVID-19

Cirralto Ltd (ASX:CRO) is targeting around $225 million per month in existing business-to-business payments volume from its customer network for conversion to its new Spenda platform.

The company is already processing about $1.7 million directly through its new platform.

Digital payments transition

Cirralto, which is transitioning to a digital payments company, says the Spenda family of payments products takes B2B payments to the next level, providing a single platform, enabling all businesses to get paid on time.

A significant number of businesses have transitioned consumer payments to digital and contactless transactions to fight the spread of COVID-19.

Managing director Adrian Floate said: “Since the launch of the SpendaCollect product, we have been flooded with interest from a really diverse cross-section of the market.

“The next step for our team is to implement processes that will allow us to satisfy the increased demand for our services.”

SpendaCollect platform

B2B merchants' transactions limits are up to 25 times greater than their retail counterparts. It noted that while B2B merchants processed fewer transactions than retailers, their transactions were substantially greater in value than retail-to-consumer (B2C) transactions.

Further, B2B merchants were more invested in getting paid on time because of compliance obligations. 

SpendaCollect can process more than $25,000 in a single statement payment compared to the average retail transaction of less than $500.

This is significant as far fewer merchants are required to acquire substantial blocks of revenue and market share in the payments space. In addition, SpendaCollect enables customers to digitise their payments processes.

SpendaCollect can be used by almost any industry, making the addressable market in Australia alone conservatively greater than $100 billion in merchants’ payments.

Focus on B2B market

While SpendaCollect has applications in both the B2B and B2C market, Cirralto has focused on the B2B market because of the revenue acceleration it delivers with relatively few merchants.

The scale of B2B merchants is such that 100 SpendaCollect merchants are the equivalent of 2,500 – 3,000 retail merchants, the company said.

B2B Pay Later launch

Cirralto also plans to launch its B2B 'Pay Later' and trade finance modules with its partner Invigo.

Quick facts: Cirralto

Price: 0.03 AUD

Market: ASX
Market Cap: $50.89 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Cirralto named herein, including the promotion by the Company of Cirralto in any Content on the Site, the Company receives from said issuer...


The Ince Group says 'we lead our clients to the solution'

The Ince Group PLC's (LON:INCE) Adrian Biles talks to Proactive London's Katie Pilbeam about their firm, which is 'one of the few listed legal services businesses on the AIM market'. The company has been in existence for about eight years, it listed in August 2017, now with nine jurisdictions...

1 day ago

2 min read