According to the press release, in addition to JOOR’s existing functionality of accepting credit card payments, these new alliances will enable JOOR platform users in Europe and the US respectively to enjoy the convenience of electronic, bank-to-bank money transfers. With over USD 1.5 billion in wholesale transactions running through the JOOR platform on a monthly basis, and over 50% of these occurring via bank transfer, these added payment capability options extend JOOR’s footprint into the fintech space to further the digital transformation of the wholesale and retail industry.
JOOR brands currently use the integrated Payments solution to generate bulk invoices, receive credit card payments, and easily review outstanding invoices all within the JOOR platform. Retailers can make instant payments or pay later, allowing brands flexibility to handle both immediate and pre-book orders.
Overall, the results are a streamlining and consolidating of operations, allowing brands to close transactions much faster. SEPA is now available to JOOR brands, with ACH launching in the coming months.
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