Cashflows rolls out Anytime Settlement solution for businesses
By Megha Bhattacharya
Cashflows today announced the launch of Anytime Settlement, enabling businesses to access funds in a short time following a transaction. Anytime Settlement aims to give merchants greater control of their funds in the wake of ongoing cash flow challenges.
Amanda Mesler, CEO, Cashflows, said, “2020 was the most challenging year for businesses that we’ve seen for decades and 2021 doesn’t seem like it will be much easier. We all know that the payments industry has long been hindered by archaic processes and infrastructure. The events of the last 12 months have really highlighted a need to improve this to give SMEs – the life blood of our global economy – the best possible chance to thrive in difficult circumstances. Anytime Settlement is simple – it’s about giving businesses access to what is already theirs, whenever they need it. With so much outside business leaders’ control, we believe they should at least have freedom over how they manage their funds.”
According to Cashflows, Anytime Settlement will enable users to choose when and at what frequency they receive funds following the receipt of payments, allowing them the flexibility to reinvest funds as needed to support changing business priorities. Merchants can apply for access to Anytime Settlement as part of their general application process to Cashflows, and are subject to approval.
The launch follows the research conducted by Cashflows that revealed that 42% of UK retail and financial services payments decision-makers say having more predictable cash flow is important to their business – compared to 32% before the pandemic. 67% confirm their businesses have been negatively impacted by Covid-19 with 76% believing the future has been irrevocably changed. 15% said they don’t feel in control of their payments. Over half (54%) say being able to control remittances would give them security/peace of mind, this figure rising to 63% of those in financial services.
Founded in 2010 as an e-commerce acquirer, Cashflows also offers BIN sponsorship services, working with all major processors, and currently sponsors 38,500 ATMs across Europe. It is a part of private equity fund manager Pollen Street Capital.
Recently, Cashflows announced the launch of a new brand enhanced customer proposition: ‘Simple solutions for smart businesses,’ alongside the launch of its omnichannel platform and a proprietary payment gateway, along with an omnichannel platform and a proprietary payment gateway. The company has connected and simplified its payment acceptance within the Cashflows Go platform, enabling customers to use this while shopping online, in-store, in-app, or via mail or telephone orders.
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