SignaPay Adds Financing, Procurement Features For Merchants

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Payments processing company SignaPay is stepping up its presence within merchants’ back offices, introducing new features for businesses to manage finances.

In a press release on Thursday (Aug. 30), SignaPay announced the launch of Merchant Benefits Club, SignaCash and ACH payments.

Its Merchant Benefits Club is a procurement feature that links merchants to suppliers with access to vendor discounts. The tool currently works with 60 suppliers in office supplies, business services, hotels and other markets. According to Matt Nern, SignaPay VP of sales and marketing, the tool will link smaller merchants to discounts normally reserved for larger corporate buyers.

SignaCash is a small business financing tool that links businesses to more than 2,500 lending programs. Business borrowers can use the platform for an array of uses, including launching their business, financing new equipment or applying for a loan from the Small Business Association.

Finally, ACH payments enable businesses using SignaPay payment processing tools to accept and process checks electronically.

“ACH payments are applicable for a variety of merchant types, including retail, eCommerce, B2B and personal services,” Nern added. “Even better, merchants can review detailed online reporting of all payment activity, making it an ideal solution to incorporate.”

The additional functionality augments SignaPay’s existing offerings of credit and debit card payment processing, an integrated payment integration, fraud solutions, analytics, customer loyalty tools and more.

The company launched its payment gateway and POS system earlier this year, with the ability to support recurring billing and reporting. The solutions are designed to give business owners greater visibility into cash flow and to boost profits, SignaPay said at the time.

The tools also come as merchant payment service providers increasingly augment their offerings with back-office tools. One of the most notable businesses doing so is Square, which launched Square Capital as a small business lending offering.


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