Payrow, a financial services provider for small and medium-sized enterprises (SMEs) in the UK, announced a significant update to its pricing structure. This revision not only reflects Payrow’s commitment to offering tailored and cost-effective financial solutions to British businesses but also introduces a groundbreaking approach to transparency and flexibility in pricing.
Transparent pricing: No hidden costs, no surprises
Payrow sets a new industry standard with its transparent pricing policy. Businesses engaging with Payrow can rest assured that there will be no hidden fees or unexpected additional charges. The upfront, clear, and predictable pricing allows SMEs to plan their finances without worrying about unforeseen expenses.
Payrow has introduced a revised tariff structure designed to cater to the diverse needs of SMEs at different stages of their business journeys. The new pricing plans are:
- Micro Business Plan (£19/m): Ideal for businesses at the start of their journeys, offering a main GBP account, free Payrow payments, and competitive rates for international transfers.
- Small Business Plan (£29/m): Aimed at growing businesses, this plan includes up to two additional GBP accounts, free local transfers, and affordable bulk payment options.
- Business Plan (£99/m): Tailored for rapidly expanding businesses, offering up to four additional GBP accounts and unlimited access to most additional services.
- Custom Plan (£299/m): This unique plan offers bespoke financial services, ensuring a personalised experience for each business.
Key highlights of Payrow’s revised tariff structure
Payrow’s new tariff structure provides flexible and tailored pricing for different business types. With plans suited for companies with varying transaction volumes and no limits on transaction amounts, this approach adapts to each company’s specific needs.
- Flexible tariffs for diverse company profiles: Payrow’s plans cater to various transactional patterns. Businesses with high turnovers but fewer transactions can opt for plans with lower subscription fees. Those with more frequent transactions can choose plans with lower transaction fees.
- Custom plan for unique needs: The Custom Plan is tailored for companies with special demands or complex structures, offering solutions beyond the scope of traditional banks and fintech firms.
- Unlimited transaction amounts: A standout feature of Payrow’s tariffs is the absence of transaction limits. This aspect ensures that businesses, regardless of their transaction frequency or volume, can select a plan that aligns perfectly with their financial operations without worrying about exceeding any caps.
- Adaptable P=plans for changing needs: Recognising business dynamics, Payrow permits tariff changes in response to seasonal shifts or evolving business requirements.
- Transparent pricing with enhanced features: The new structure includes a one-month free trial, clear cost models post-trial, and no limits on deposits or withdrawals. It also boasts reduced commission rates, enhancing cost-effectiveness for SMEs.
“In the fintech world, pricing structures can often be complex. We see companies offering basic accounts for free but charging for more advanced services. This tiered approach can end up costing SMEs more for comprehensive services. Then there are those with ‘pay-as-you-go’ models, which can be unpredictable and expensive, especially for businesses with a lot of transactions or international dealings. At Payrow, we do things differently. Our goal is to make financial services simple and transparent, ensuring they are accessible and cost-effective for SMEs,” commented Payrow.
Additional services and support
Payrow continues to offer a range of additional services, such as bulk payments, scheduled transfers, and invoice management, with the scope of these services varying across different plans to match business requirements.
Payrow remains dedicated to providing the highest level of service and support, ensuring customer satisfaction and a seamless experience. This pricing update is a testament to Payrow’s ongoing commitment to adapting and evolving in line with the needs of UK SMEs.
For more information and to explore the revised tariffs in full, please visit payrow.com/pricing.