CheckSpace Extends E-Payment Service To Small Businesses - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

CheckSpace Extends E-Payment Service To Small Businesses

CheckSpace Inc. has released an E-payments platform designed to let financial institutions offer electronic invoicing and checking to their small-business customers, and share the revenues with CheckSpace.

While many banks now let consumers pay their bills electronically, few have extended the service to the small-business market. To that end, the 1-year-old CheckSpace has integrated its offering with the financial systems that small businesses use, like QuickBooks and PeachTree, so that customers can create electronic checks, download data, and create reports in the accounting software they normally use. Perhaps not surprisingly for a company whose CEO is an ex-Microsoft developer, the system is the first E-payments solution built on Microsoft's .NET enterprise servers.

CheckSpace charges the user 95 cents per transaction, which it shares with its bank customers, though CEO Naseem Tuffaha declined to say exactly how the money is divvied up.

Tuffaha sees alliances with banks as his winning strategy in the battle for market share against PayPal Inc., a company that started out as a person-to-person E-payments system but has come to dominate the business market as well. Because PayPal customers keep their money in a PayPal account and are paid interest, the service competes with banks, Tuffaha says. CheckSpace, on the other hand, adds and deducts transactions directly into the customer's bank or checking account.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Slideshows
Reflections on Tech in 2019
James M. Connolly, Editorial Director, InformationWeek and Network Computing,  12/9/2019
Slideshows
What Digital Transformation Is (And Isn't)
Cynthia Harvey, Freelance Journalist, InformationWeek,  12/4/2019
Commentary
Watch Out for New Barriers to Faster Software Development
Lisa Morgan, Freelance Writer,  12/3/2019
Register for InformationWeek Newsletters
Video
Current Issue
The Cloud Gets Ready for the 20's
This IT Trend Report explores how cloud computing is being shaped for the next phase in its maturation. It will help enterprise IT decision makers and business leaders understand some of the key trends reflected emerging cloud concepts and technologies, and in enterprise cloud usage patterns. Get it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll