Paysafe Rolls Out “Accelerated Funding” to Bring Mobile Payments-style Speed to Settlements
The business-to-business (B2B) side of mobile payments, as we discovered recently, has often been ignored in favor of peer-to-peer (P2P or business-to consumer (B2C) operations instead. However, Paysafe recently stepped up the B2B side of things with a new release, which it tipped us off about, dubbed “Accelerated Funding.”” Accelerated Funding is going to prove a welcome development for small businesses who use it, especially those who want to see their funding options increase.
Accelerated Funding represents a suite of settlement options with high-speed capability, sufficiently fast to offer either same-day or next-day settlement. It’s built around some of the earlier developments from Paysafe, in which it set up collaborative shop with Company.com and Ingo Money back in June.
Greater settlement speed means small businesses will have much less concern about waiting to get paid for the work they’ve done or the goods they’ve supplied, and instead be able to turn their attention to building a business.
Paysafe’s North America payment processing CEO Todd Linden noted “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.”
A Fundbox study proved how necessary a service like this would be; 17 percent can’t build up inventory thanks to funds shortages, 23 percent can’t invest in new equipment, and a whopping 79 percent have had to go without pay at some point.
It becomes obvious here that faster payments mean better conditions for small businesses, so it’s a safe bet that there should be plenty of takers to get in on the action. Small businesses only have so many options when it comes to getting paid, and if Paysafe’s tools can make that happen more readily, small businesses should jump at the chance. That’s going to serve to give Paysafe a shot in the arm revenue-wise as well, which is good news all around. Plus, it could give Paysafe a foot in the door should it develop other services.
Using mobile payments-style options to get cash back to a business faster should go a long way toward getting businesses interested in Paysafe, and hopefully, Paysafe’s tools in a lot more hands.