PAYONE and Banxware enter a strategic Partnership - Express Merchant Financing with focus on SME segment
PAYONE, joint venture of Worldline, the European market leader in payment and transaction services, and the DSV Group, Competence Center Payment of the Sparkassen Finance Group, and the Berlin-based fintech Banxware, provider of business financing and lending technology, have entered a strategic partnership. The new cooperation aims to provide PAYONE customers in Germany with quick, easy and convenient access to liquidity: Approval of merchant financing will take on average just 15 minutes after online application via the PAYONE merchant portal is completed. Following a pilot phase with selected merchant customers starting in January 2022, the innovative financing solution will be rolled out nationwide in the course of the year.
In the future, PAYONE will offer its small and medium-sized merchant customers express financing with flexible terms of up to 12 months via the digital Banxware application channel. Unlike conventional financing solutions, merchant financing is provided in real time based on the merchant's revenues in the last 6 months.
Particularly for companies in the SME segment, it is often difficult and time-consuming to obtain a loan in the traditional way, especially for young companies with low equity, less than three years of company history or companies that only recently became profitable.
Banxware, on the other hand, as a so-called "revenue-based finance provider", makes the financing decision based on innovative analyses and AI-based technology. In this process, the forecasting of a company's future sales is included in the approval of the financing allocation. In this way, Banxware technology helps PAYONE customers - especially in the event of short-term liquidity shortages - to obtain ad-hoc financing that is needed for sustainable entrepreneurial activity: For example, with the new express financing, merchants can make purchases such as high-performance equipment or investment in store fittings, increase stocks of goods and supplies, cover running costs such as rent and salaries, or even invest in marketing and advertising of their services and products.
Niklaus Santschi, CEO PAYONE, explains: "Increased financing demand is one of the challenges of every entrepreneur's everyday life. Our goal is to grow with our merchant customers and help them develop their business and related services. We count many small and medium-sized enterprises among our customer base, who often do not have quick access to liquidity, but often need it at short notice. With Banxware, we have found an ideal partner who can offer our customers a financing proposal based on historical merchant data incorporating projected future sales figures. This allows us to solve one of our customers' often most urgent and precarious problems."
Miriam Wohlfarth, founder of Banxware, adds: "Integrated financing solutions are already well established in the USA and China. PAYONE is an absolute pioneer when it comes to creating innovative, core added value for their customers through cooperations. We are very much looking forward to the upcoming cooperation and are convinced that PAYONE customers will benefit from our new partnership and the pragmatic and fast approach of our lending solution in terms of growth perspectives as well as progress."
PAYONE is a leading payment provider in Germany and Austria. In stationary retail, mobile or online - PAYONE helps merchants and service providers with the challenges around cashless payment. As a full-service payment provider, PAYONE makes sure digital payment processes work quickly, easily and reliably. PAYONE develops individual solutions that meet the highest security standards for all industries and companies of all sizes.
The pioneering omnichannel concepts from PAYONE help merchants offer their customers cross-channel shopping experiences. In doing so, PAYONE pursues the goal to enable integrated payment across all touchpoints. PAYONE processes more than 3.8 billion transactions per year for over 260,000 customers. With over 1,600 employees at six locations, the company also offers numerous value-added services that go far beyond the traditional payment business. PAYONE is a joint venture between Worldline and the DSV Group (Deutscher Sparkassenverlag). PAYONE works across Europe for small and medium-sized companies as well as well-known global brands. These include for example Deutsche Bahn, Rossmann, PUMA, home24 and Sansibar.
Banxware is a Lending as a Service provider that enables digital platforms to offer integrated financing solutions to businesses conveniently and online. The company is headquartered in Berlin and was founded in 2020 by Miriam Wohlfarth, Jens Röhrborn, Fabian Heiß and Nicolas Kipp.
Worldline [Euronext: WLN] is the European market leader and the world's No. 4 provider of payment and transaction services. With its global reach and commitment to innovative solutions, Worldline is the technology partner of choice for merchants, banks and acquirers as well as public transport operators, government agencies and industrial companies across all industries.
With over 20,000 employees in more than 50 countries, Worldline provides sustainable, trusted and secure solutions across the payments value chain, driving business growth for its customers around the world. Worldline's services in Merchant Services, Terminals, Solutions & Services; Financial Services; and Mobility & e-Transactional Services include domestic and international commercial acquiring for both brick-and-mortar and online businesses, highly secure payment transaction processing, a comprehensive portfolio of payment terminals, and e-ticketing and digital services in industrial environments. Worldline's pro forma revenue in 2020 amounted to around EUR 4.8 billion.