Park Place Payments and Now Corp team up for SME payment financing
Smaller businesses often place a priority on early payment for working capital reasons. But with the credit system, commercial payment companies see this as an opportunity to launch products which can make payment receiving as simple as possible.
Los Angeles based payments processing company, Park Place Payments has partnered with Now Corp which is an Atlanta based payments company, Now Corp. With this collaboration, the two companies have unveiled a new strategy “designed to transform the way” small and medium-sized businesses accept payments.
According to the press release, NOWaccount, which is the service offered by the Now Corp, will let companies get paid immediately upon delivery and invoicing, eliminating the gap created between supplier accounts receivable and buyer payment. The company notes that it makes payments happen instantaneously in a way which feels as if it is being paid with credit cards.
Park Place Payments offers payment processing which the company says it is with “pricing clarity and transparency”.
“The need for small and mid-sized businesses to get paid faster has never been greater,” said Lara Hodgson, CEO and President of Now Corp. “The future of small business access to capital will be shaped by innovations in payments and we are excited to partner with Park Place, which puts us at the forefront of these innovations.”