MasterCard, Comdata and Behalf have teamed up to enable small- and mid-sized businesses (SMBs) to have a more flexible and convenient way to pay their vendors.
MasterCard is helping SMEs utilise financing
The initiative helps improve cashflow for SMBs by providing alternative payment terms for their payments to merchants that accept MasterCard and are approved for participation by Behalf.
Behalf provides working capital lines to small businesses to help bridge the cashflow gap between when they have to pay a vendor for a purchase – typically within 30 days – and the time it takes to generate revenue from that purchase. Behalf will pay an SMB’s vendor invoice of up to $10,000 per purchase, and the SMB then pays Behalf back over up to 120 days. SMBs receive favourable rates and terms while their vendors benefit from more rapid cashflow, lower risk of fraud, fewer credit losses and increased sales.
The offering extends Behalf’s product benefit by adding the ability to use a secure virtual card for both POS and online purchases while receiving convenient payment terms.
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