vcita Teams Up with Square to Power Payments for SMEs

Israeli tech startup vcita has partnered with Square to help small and medium-sized businesses manage their affairs online.

vcita, a cloud-based business management and client engagement app, will integrate with the San Francisco startup to help companies digitize their payment process and streamline commercial opportunities.

Users on both platforms will now be able to import their contacts and transaction histories from one into the other. Moreover, they can collect payments for completed jobs with Square directly within the app.

“Small and medium sized businesses are faced with enormous restructuring of their core systems as the world adjusts to a new way of working,” said vcita CBDO Adi Engel. “Vcita empowers SMBs to adapt and thrive through bringing them closer to their customers while driving greater efficiencies and commercial opportunities.”

The announcement comes just two months after vcita tied up a deal with Mastercard, where the pair launched a CRM and learning solution called Business Unusual. As with the Square (NYSE:SQ) integration, the goal is to assist micro and small enterprises better manage their businesses, specifically by providing them with a suite of tools that can be accessed from one application.

Giving SMEs a Helping Hand

Square was founded in 2009 by Twitter boss Jack Dorsey and aims to make payments easier for both businesses and consumers. Its flagship Cash App boasts over 24 million users, with a combined $1.3 billion account balance as of late April. Recently, Square Capital facilitated over $820 million in PPP loans, providing a financial lifeline to over 76,000 small businesses.

As for vcita, it has been busy building since securing $15m growth funding last year, and has already onboarded over 100,000 paying users. Its app enables solopreneurs and small business owners to create invoices and quotes, manage payments, aggregate customer data and automate email campaigns.

Small businesses account for over 44% of economic activity in the United States, and with the coronavirus pandemic having caused widespread disruption in recent months, the vcita-Square integration couldn’t be more timely. Thanks to the partnership, SMEs can use vcita to continue running their business by enabling seamless collection of payments online.

Businesses that until now have operated on a face-to-face basis have been worst hit by the ongoing crisis, while digital-first models capable of retaining a distributed remote workforce have fared better. With their white-label technology, vcita intend to lend a helping hand to both, enabling firms to create or streamline their online operations with the assistance of high-profile partners such as Square  (SQ)  and Mastercard (MA).

Disclosure: None