STP has focused on optimizing electronic transfers for all types of companies. Currently, after its approval as a fintech STP seeks to help small businesses receive electronic transfers quickly, easily, and at a low cost.
Possibly this has happened to you: you go to your favorite bakery, you choose your pieces of bread, and just when you arrive at the checkout to pay they have no change. You have two alternatives: you wait for someone who wants to change you to arrive or you leave your products. The solution to this problem is called STP, a fintech company endorsed by the National Banking and Securities Commission (CNBV) that optimizes electronic transfers quickly, easily, and at a low cost.
How can they do that? This fintech company developed an app so that small businesses can collect and receive their money in real-time 24 hours a day, seven days a week through CoDi, a payment platform developed by Banco de México that operates through the System of Interbank Electronic Payments (Sistema de Pagos Electrponicos Interbancarios: SPEI).
You no longer have to worry about carrying cash, all you need is your cell phone and have registered CoDi in your bank’s mobile app.
STP (Sistema de Transferencia y Pagos) is a 100% Mexican company that has been helping companies to make electronic transfers for 11 years by connecting them directly to the SPEI of Banco de México without the traditional intermediaries, which are basically the different banks.
“Basically what we do is automate the treasury of the companies, the collection, and the payments through this direct connection with a bank in Mexico and an automated reconciliation through a technological integration through APIs (Application Programming Interface) ”, says Santiago Bernal Trejo, STP business development manager.
STP is one of the first 10 companies that obtained authorization from Banco de México and the CNBV (Mexican Stock Exchange), to operate as an Institution of Electronic Payment Funds (IFPE).
Its objective is to help businesses optimize and automate the management of their treasuries. With STP, companies, without having to enter bank portals, will be able to make payments and reconcile their operations directly from their ERP system. Such as payroll, accounts payable, accounts receivable, loan, lease, etc.
This way, regardless of the line of business, companies will be able to receive their liquid money in real-time and 24/7 through direct integration into their own financial system.
Unlike payment gateways or point of sale terminals (POS), the STP CoDig app does not charge any commission and the merchant receives the money instantly. The STP app allows small businesses to charge for their products and services efficiently and at no cost since downloading the application and registering the business is totally free.
The STP business solution does have a cost though, however, it does not charge a commission percentage. It has a fixed cost according to the transactional volume of the client. The higher the number of transactions, the lower the cost.
“The situation due to the coronavirus greatly reduced the use of cash and it is believed that the behavior of consumers when making payments and running a business is going to change a lot. “A stage of much digital transformation is coming for SMEs and STP is there to support this transformation,” Santiago underlines.
“Your business does not need a significant investment to have sophisticated and efficient payment methods” he concluded.