As a business owner or someone responsible for financial performance, you’ll appreciate that time and cash flow are two of the biggest hurdles to wrangle. But, thankfully, you can end your search, as Pinch’s payment automation platform is here to rescue your time and improve your cash flow.
How? Pinch’s secret sauce - not butter, even though it goes great with lobster - is our ability to automatically reconcile your Xero account with your payments, instantly reducing hours of regular admin work once installed.
Receiving payments
Pinch offers direct debit pre-approvals, batch payments, instalment payments, payment plans, recurring payments and automated reminders that let you put your customer payments on autopilot.
The result? Improved crucial cash flow while saving additional time and providing a great customer experience.
Businesses using payment automation.... see up to 70% cash flow increase save 15-20 hours per week on admin see upwards of 90% reduction in bad debt
Some definitions
Batch payments - customers can see all open invoices no matter what invoice they are looking at.
Instalment payments - your customer can break a larger invoice down into small payments.
Recurring payments - invoices sent at regular intervals.
Variable payments - schedule to send customers invoices for differing amounts.
Pre-approvals - Allow your customers to set pre-approval thresholds for smaller, frequent payments.
Who’s Pinch for?
Pinch works for any business that needs to invoice customers - that’s most businesses right?
Where Pinch really excels is for businesses that have irregular payment cycles, variable invoice amounts, recurring invoices, and a high volume of invoices for smaller amounts.
Why high volume/smaller amounts?
Pinch charges 30c/transaction plus 1% for direct debit from a bank account (capped at $5) and 1.95% for credit and debit cards. Because you can pass the transaction fees on to your customers, we suggest smaller invoice amounts to avoid sticker shock for your customers.
There are no setup, minimum, or monthly fees.
Pinch Payments + Xero
You’ve probably used the rest, now it’s time for the best. Pinch is head, shoulders, and pincers above the competition. Our Xero integration is a big reason why. Beyond that:
Auto Reconciliation Reduce the amount of time you spend on admin with auto reconciliation between Xero and your bank account.
Improve cash flow When it’s easy for customers to pay you, they will! Making payments simple for your customers is one of the best ways to boost your cash flow.
Pre-approvals Allow your customers to set pre-approval thresholds for smaller, frequent payments via any invoice issued by Xero.
Pay Now Accept one-off credit card and direct debit payments online. Take one-off payments straight from the invoice using pay now.
Recurring Payments Get paid on the invoice due date! Set up regular automatic payments like subscriptions.
Variable Payments We can collect any ad-hoc invoice amount automatically. Set thresholds to debit smaller amounts while leaving large amounts alone.
Payment Plans Break down large invoices into a series of smaller payments, all tracked on one invoice.
Batch Payments Recover aged invoices by showing all outstanding invoices available on the pay now page. The customer can pay all invoices at once in one payment.
On-charge fees If you are currently absorbing Xero fees on behalf of your clients, you can flip the switch and automatically on-charge transaction fees using our on-charge service.
Getting started
It's pretty easy and there are no paper forms required! Just follow the links to create an account. From there, select which Xero organisation we should connect with
Because we are in the payments industry we will require some compliance documentation before we can settle funds. They are:
- 100 points of ID from an ultimate business owner. This will be you if a sole trader or if a company, someone who has 20% or more of the allocated shares
- The latest bank statement for the account we are funding
- Information supporting the registration of your business
After that is entered, we will ask which branding theme you would like our pay now functionality to be associated with.
That's it! Assuming your compliance documents all check out you are good to go with a credit card and Direct Debit facility, all linked to your Xero invoices.
Reviews & ratings
Time and $ Saver
Response from Pinch Payments
TPExcellent app saves us so much in admin time
Response from Pinch Payments
HSPaid in a Pinch
Response from Pinch Payments