Bermudian-based First Atlantic Commerce has launched a new online billing system in partnership with a firm from Costa Rica.

FAC teamed up with Trambia, a Costa Rican tech firm, to introduce Fygaro — invoicing software with built-in security aimed at smaller businesses which can be used on any mobile device.

Chris Burns, FAC CEO, said: “There is a real need for this kind of product in the small-to-medium enterprise market.

“This new tool provides customers with a way to automate functions, eliminate paper processes and get paid quicker.

“We are proud to be working with Trambia on this exciting new launch.”

Fygaro is integrated with FAC’s payment platform to allow its customers to accept online payment in the Latin America/Caribbean region, including Panama and Bermuda, as well as in the US, Europe and Mauritius in the Indian Ocean.

Trambia clients will have to open an online merchant account with one of FAC’s partner banks to take advantage of Fygaro, but do not need to to have direct merchant integration with FAC, which allows for a simpler, more streamlined process.

Ariel Rochwerger, CEO of Trambia, said: “Current invoicing software and other market solutions still rely heavily on user input and memory — they are complicated and require high technical knowledge.

“We have developed a smart, yet simple product so that users can get to their data in as little time and with as little interaction as possible.

“Fygaro allows clients to automate tasks like recurring billings, payment reminders and even manage inventory so they can focus on their business.

“We are proud to launch this product together with First Atlantic Commerce as our payment gateway platform.”