Stripe plans to strengthen its support for platforms by acquiring Parafin, an embedded financial products platform, the company said in a Wednesday (Sept. 30) press release. Parafin provides platforms with credit offerings for their small business customers. The company has helped more than 60,000 businesses...
Picture the CFO at a $300 million industrial distributor. For three years she paid her key suppliers on day 10 of a net 30 invoice and pocketed a 2% discount for the trouble. It was policy. Nobody had to approve it. Then, sometime last spring,...
The early bird used to get a supplier discount. These days, it may still be waiting for the customer to pay. Across North America, more businesses are receiving payments on the due date and rethinking when they can afford to pay their own bills. PYMNTS...
Merchant lending has traditionally been built around the sales a platform can see. Multichannel commerce is widening that view. A small- to medium-sized business (SMB) might collect orders through its own website, Amazon, Walmart, TikTok and other marketplaces while using the same inventory and staff...
Experian has added a new feature to its Experian Marketplace that is designed to help lenders complete more verification and affordability checks earlier in the underwriting process for loans and credit cards, the company said in a Wednesday (Sept. 16) press release. Experian Marketplace is...
Truist Financial, a top 10 commercial bank in the United States in terms of assets, disclosed Tuesday (Sept. 15) that it is selling $5.5 billion worth of auto loans and exiting the near-prime auto lending business. The loans represent substantially all assets of the bank’s...
Apollo Global Management is reportedly shuttering some parts of its Eliant Trade Finance platform. That’s according to a report Friday (Sept. 11) by Bloomberg News, which says the move comes after a difficult year for the previously hot inventory financing market. Eliant is winding down...
When a company sells goods to a buyer overseas, it often has to wait 30, 60 or 90 days to get paid. In the meantime, it needs cash to keep running. Banks have historically been reluctant to lend against that wait, especially for smaller companies,...
Federal Reserve Gov. Michael Barr is urging lenders to look beyond conventional credit histories when evaluating consumers and entrepreneurs with criminal records, pointing to cash-flow underwriting, alternative financial data and artificial intelligence (AI) as tools that could identify borrowers whose current finances are stronger than...