This registration is a step forward in Atoa’s expansion plans, allowing the company to expand its payment solutions to businesses across the UK.
The UK-based company aims to help reshape the payment landscape for SMEs, supporting businesses to minimise payment processing costs by up to 50% compared to traditional card payments while offering instant or end-of-day payment settlements. With FCA authorisation, the company can offer fast, secure, and cost-effective payments to larger enterprises across multiple industries, including retail, hospitality, beauty, automotive, and professional services such as law firms.
By offering an alternative to both card payments and manual bank transfers, Atoa aims to address inefficiencies in traditional payment methods such as debit cards or manual bank transfers by providing businesses instant access to traditional bank transfers, reducing the administrative need for tracking and reconciling payments while enhancing the overall payment experience for end customers.
The FCA authorisation enables Atoa to offer a broader suite of regulated and compliant payment services, including payment initiation services, which enable direct payment from customers to businesses without reliance on card networks. The company also delivers virtual accounts, powering bulk settlement payouts for enterprise clients in collaboration with ClearBank, and payment account information services, which provide real-time transaction data insights for businesses.
With backing from Valar Ventures, Passion Capital, and Leo Capital, Atoa expanded its client database and is now focusing on optimising its platform and growing its suite of payment solutions. The company continues to invest in product development, ensuring merchants have access to secure and cost-effective payment options that integrate easily into their existing operations. By upgrading its technology and infrastructure, Atoa aims to provide greater reliability and efficiency in payments.
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