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What if you never have to stress about late payments or overdue invoices again? Thanks to modern payment solutions, small business owners can now enjoy the convenience of instant business payments and seamless bill settlement. Streamlining your accounts payable and receivable is crucial for the success of your business, and with options like Forwardly and Plooto, achieving this has never been easier.
In this comparison, we’ll explore the features of two leading instant payment platforms – Forwardly and Plooto – to help you make an informed decision. Plooto offers instant payments through its feature Plooto Instant.
Forwardly vs. Plooto Instant: What’s the difference?
Forwardly and Plooto Instant offer different approaches to improving payment processing for businesses. Plooto Instant is a feature within Plooto’s platform, which offers instant payments along with its 3 plans for accountants and businesses: Go ($9), Grow ($39), and Pro ($499).
While both platforms aim to make payments easier for businesses, they have distinct features and pricing structures. Both of the platforms offers 2-way sync capability with leading accounting software like QuickBooks Online and Xero.
What makes Forwardly stand out?
Instant payments
Forwardly stands out with its ability to offer instant payments, accessible 24/7, including holidays, through the RTP Network and the FedNow Service. Funds are swiftly transferred within 60 seconds, allowing businesses to maintain liquidity and meet financial obligations promptly.
In contrast, Plooto Instant requires pre-funding the wallet, leading to a longer processing times of 1-2 business days. Accessing deposited funds may take an additional 3-5 business days, potentially causing delays in managing cash flow. Also, pre-funding Plooto Instant might incur fees. Forwardly simplifies the process by offering direct bank deposits in seconds, eliminating the need for a wallet altogether.
Affordability
Forwardly provides an affordable option for businesses wanting to make their payment process smoother. With Forwardly, you can receive payments faster, with fees of just 1% of the transaction value, starting at $1 and maxing out at $10, making it a clear and budget-friendly choice.
On the other hand, Plooto charges subscription fees as per your chosen plan and $0.50 for each domestic payment. Forwardly’s simple pricing lets businesses plan and handle their expenses better. Also, sending bill payments with Forwardly is completely free for both instant payments and same-day ACH.
Better visibility
Forwardly revolutionizes your financial experience with cutting-edge features. Stay informed at all times with real-time updates on your bank balance before making the payments, providing you with complete visibility into your finances. Experience swift and seamless transactions with Forwardly’s bank-agnostic transfer capabilities, enabling instant settlements and effortless reconciliation within seconds. Say goodbye to delays and uncertainties – Forwardly ensures your transactions are smooth and efficient every time.
Multiple businesses
Forwardly makes it easy to manage several businesses by providing one dashboard for all financial tasks. This simple setup lets users keep an eye on transactions, track cash flow, and control who can access what. Businesses can adjust permission levels to keep sensitive financial info safe.
Plus, Forwardly doesn’t limit how many team members can join, which encourages teamwork. On the other hand, Plooto might not be as flexible for businesses handling multiple entities.
Choose the Forwardly way
Forwardly stands out as a complete solution for businesses in search of efficient and budget-friendly payment processing. With Forwardly, you have the flexibility to receive instant payments whenever and wherever you need, without the hassle of managing a wallet or waiting for days. Enjoy the convenience of sending free direct bank transfers in seconds.
What’s more, Forwardly keeps things simple by not charging any subscription fees or requiring you to commit to a specific plan. Instead, you only incur minimal costs when receiving payments. With its straightforward and empowering payment processing system, Forwardly presents an appealing option for businesses aiming to streamline their financial operations. Choose Forwardly for a seamless and empowering payment experience for your business.
