ArcartaPay was specifically designed for dealers and allows them to accept bank transfers and card payments from clients anywhere in the world through a system that uses security systems, fraud and security checks to flag up undesirable customers almost instantly.
It aims to give confidence both to the seller as well as the buyer, as the dealer must go through the validation process when signing up to the subscription service. Following revelations that invoice scams cost UK small businesses nearly £100m in 2018, ArcartaPay aims to offer a facility that is both secure and easy to use.
Technologist and service designer Tom Noon, co-founder of ArcartaPay developed it after meeting dealer Peter Petrou at Masterpiece two years ago. The two started talking about how the internet had changed dealing, particularly the loss of human contact in many cases, as well as rising instances of fraud and cybercrime.
Hancocks, Trinity House and Kevin Page Oriental Art are among the users listed on the ArcartaPay website.