PAYONE partners with Banxware for SMB-focused retailer financing

Wednesday 12 January 2022 13:39 CET | News

Germany-based financial services provider PAYONE and corporate financing and lending technology provider Banxware have announced entering into a strategic partnership.

PAYONE is a joint venture between payment and transaction service company Worldline, the DSV Group, and the Payment Competence Centre of the Sparkassen-Finanzgruppe. The aim of the new cooperation is to provide PAYONE customers in Germany with access to liquidity. Dealer financing is to be approved and paid out on average within 15 minutes of the online application via the PAYONE dealer portal. After a pilot phase with selected dealer customers, which will begin in January 2022, the financing solution will be rolled out nationwide throughout 2022.

In contrast to conventional financing solutions, dealer financing is granted in real-time on the basis of the sales made by the dealer in the last 6 months. Banxware, as a "revenue-based finance provider" makes the financing decision based on innovative analyses and AI-based technology. In the future, PAYONE plans to offer its small and medium-sized retail customers express financing for operating resources and investments with flexible terms of up to 12 months using the digital Banxware application process.

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Keywords: partnership, financial services, artificial intelligence, transactions
Categories: Banking & Fintech
Companies: Banxware, PAYONE
Countries: Germany
This article is part of category

Banking & Fintech




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