Digital commerce platform Merchant eSolutions has rebranded to simply MerchantE, which a press release says reflects a commitment by the company to offer more choices, more transparency and better money management tools.
The company will offer new services titled MoneyIn, MoneyOut and MoneyMax, according to the release. The services are designed for companies looking at how money flows in and out of their businesses and how to analyze the data to make the best financial decisions.
Among the new features offered by MerchantE are pre-imbursements, allowing companies to pre-authorize payments to a company card with flexible customization options, "EmployeePlus payouts" which allow for payments of wages, tips and rewards in real time, and hosted payments that allow for branded payments on a company's website for extra security.
There will be a feature allowing companies to craft a website easily and make it operational, and down the line, the company plans to add electronic invoicing tools and a "pre-funding" tool for "When you have an unexpected expense, need extra inventory for a big event, or just need funds to cover payroll," the release says.
MerchantE has also revamped its own website.
Mike Rouse, MerchantE CEO, said the changes were a response to the rapid changes in the business world since the company's 1998 inception, and that the idea was to streamline payments processes.
"As payment options and technology have evolved, companies have become accustomed to fragmented solutions for each channel,” he said, according to the press release. “MerchantE was created to provide growing businesses with a single solution to manage their money – as it comes in, goes out and everything in between.”
The pandemic has most businesses thinking in terms of digital payments. Those that aren't looking into digital solutions might find themselves on the losing side of business in the coming months and years, experts told PYMNTS in a recent panel.