Following this announcement, the collaboration is expected to deliver secure and efficient access to Stenn’s optimised invoice financing in order to provide Payyd’s clients with on-demand capital by converting invoices into cashflows.
In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Through the use of the Payyd dashboard, an embedded simple and secure 2-step flow, clients and users can have the possibility to select to finance their exports with Stenn, as well as take control of their cashflow whilst trading across borders. Payyd will also continue its strategy of enabling underserved Indian exporters access to competitive and optimised market services.
At the same time, Payyd’s customers and clients that are operating in the region of India will be enabled to onboard via Payyd’s platform and access single invoice financing as and when they need to leverage it. The non-resource, single-fee model offered by Stenn will also provide the flexibility for exporters to access additional capital when it matters the most.
Currently, invoice financing allows businesses and companies to unlock working capital that is usually tied up in their accounts receivable by selling their invoices to another firm for a small fee. The partnership will allow merchants and traders to quickly access a significant portion of the invoice value in cash, which will provide them with immediate liquidity to cover operational expenses, as well as invest in development opportunities and maintain smooth, secure, and efficient business operations without the need to wait for long payment cycles.
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