Crezco is an open banking payment solution for online invoice payments up to £1,000,000. Crezco initiates domestic and international bank-to-bank transfers seamlessly and securely. Funds arrive in seconds, and payments instantly reconcile within Xero.
Get paid sooner for free by offering your customers a secure and convenient checkout solution via Crezco. Crezco automatically adds a payment link to your invoices, ensuring you are paid on time to the correct bank account. In addition, account-to-account payments are reconciled automatically within Xero.
By using Crezco to collect payments, on average you:
- get paid seven days faster
- save ten hours per month on reconciliation
- save £350 per month in payment fees
Import your contacts and invoices automatically from Xero to Crezco and pay all your suppliers or employees from a single bank authentication.
By using Crezco to make payments you:
- save ten hours per month paying all your suppliers in one click
- improve your sharing process by allowing staff to create batch payments and share them with management
- save money on payment fees
Collect or make payments in 70+ currencies and 100+ countries securely and efficiently track your payments. No e-wallets, V-IBANs, or foreign currency accounts are required, and transactions are securely processed from one bank account to another. In addition, Crezco provides you with the best foreign exchange rates available.
By using Crezco for international transactions you:
- get the best foreign exchange rates available
- pay directly into your supplier's bank account in the right currency
- get better visibility on your payment status
- get no additional bank fees for sending internationally
Crezco + Xero
Crezco securely connects to your Xero account to enable itself as the payment solution for your invoices and to read and update information as appropriate. Examples include reading the amount due on an invoice to assure the checkout page displays the correct information. Following the transaction Crezco will update the invoice as paid and record the payment as a transaction against a nominated account within Xero to aide reconciliation.
To get started you need to create a free Crezco account. Following this, you need to connect Crezco to your bank account. This allows Crezco to securely identify your account details to ensure all invoice payments arrive into the right account, making sure you get paid correctly and protecting your customers from invoice fraud. Finally, within Crezco’s app you need to configure Crezco with Xero. This process allows Crezco to enable itself as your payment solution for online invoices and to update the status of paid invoices.