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Paysafe launches ‘Accelerated Funding’ to enable fast settlements for SMBs in the US
Sep 10, 2018
Small and medium-sized businesses can now plug into Paysafe for new flexible funding options to help grow their operations
Houston (Texas) - September 10, 2018 – Paysafe, a leading global payments provider, today announced the launch of Paysafe Accelerated Funding, a comprehensive suite of fast and flexible same or next day settlement options for small and medium-sized businesses (SMBs) based in the U.S. This new funding settlement product offering leverages the company’s collaboration with Company.com and Ingo Money, announced back in June, to help digitize merchant settlement for instant money transactions.
Small businesses remain the backbone of the US economy, accounting for 99.9 percent of businesses, and 47.5 percent of the private workforce, according to a study by the U.S. Small Business Administration. These include contractors, brick-and-mortar store owners, and restaurateurs, all of whom require cashflow to cover daily costs in order to maintain and grow their businesses such as supplies, raw materials, inventory and labor. According to a survey conducted by Fundbox, 79 percent of small business owners can’t pay themselves, 23 percent can’t invest in new equipment and 17 percent are unable to build up inventory due to insufficient availability of funds.
Through Paysafe Accelerated Funding, SMBs accepting payments in person will no longer have to worry about having the resources to pay for expenses. Rather, they will be able to start focusing on the growth of the business by choosing a funding option that is best-suited for the merchant and their business. The portfolio comprises of three separate funding options including Express Funding, Same-Day Funding, and Next-Day Funding. All options focus on getting merchants their funds faster, but all is dependent on their daily transactional batch time. Express Funding, in particular, is the quickest option of them all and allows merchants to receive their available funds, via a linked debit card, within just a few hours, including on weekends and holidays - 24/7, 365 days a year.
“Today’s business owners rely on their sales to help pay for their expenses and keep the lights on. Unfortunately, this reliance can make it difficult when it typically takes one to two business days to receive the money generated by sales,” said Todd Linden, CEO, Payment Processing North America, Paysafe. “By leveraging the power of same-day funding technology, SMBs will be able to integrate seamless cash flow solutions into their day-to-day operations to disburse funds as required and focus on improving their everyday efficiency and profitability.”
The launch of Paysafe Accelerated Funding across the U.S. supports the organization’s ongoing focus in the region and reinforces its commitment to providing its customers with industry-leading tools and services designed to grow their businesses. For more information on Paysafe Accelerated Funding options, please visit https://www.paysafe.com/accelerated-funding/.
Paysafe is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. With over 20 years of online payment experience, a combined transactional volume of US $56 billion in 2017 and approximately 3,000 employees located in 12+ global locations. Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world. For more information, visit www.paysafe.com.
For Media Inquiries:
Amy Gregus: Head of Corporate Communications, North America, Paysafe Group