ASX-listed IT company Cirralto Ltd is entering the payments market, announcing yesterday that it will offer merchant acquiring and payments processing services.Cirralto has developed an app called Spenda. The company said the service is designed for small businesses with card sales of between A$500,000 and $2 million a year.It plans to use the Xero Marketplace as a sales channel. It will charge merchant fees on a sliding scale, "with a base blended merchant fee of 1.5 per cent."It said it will provide acquiring and processing for Mastercard, Visa, Eftpos, American Express, UnionPay, Apple Pay, Samsung Pay and GPay.The company is involved in a range of IT services, including water testing software, and sales and marketing software systems. The company's December half financial report has a typical fintech look to it. The company made a loss of $1.8 million on revenue of $270,000. Cash outflow during the half was $883,000. At the end of December, it had cash and cash equivalents of $600,000.It also announced yesterday that it has entered into an $800,000 funding agreement with US investment manager Obsidian Global Partners.Cirralto will issue secured convertible notes and options to Obsidian. The notes have a maturity of 16 months.