Propel, emerchantpay, Team up on Card Terminal Project

Payment service provider emerchantpay has launched a collaboration with asset finance specialist Propel that will let the company’s partners offer card terminals to merchants in the U.K., where both companies are based.

As IBS Intelligence reported Wednesday (March 16), the partnership allows emerchantpay to provide financing solutions to companies for card payment terminals.

The companies say Propel’s Propeller platform will ensure optimized sales for emerchantpay sales teams and partners.

Meanwhile, emerchantpay is also rolling out a customer onboarding platform that will integrate with the Propeller platform for better onboarding.

“The partnership will enable emerchantpay to offer flexible finance solutions in a digital framework, delivering rapid decisions for our customers,” said emerchantpay Chief Product Officer Jon Horddal.

He added that the collaboration will also “enhance the services we provide for our customers and enable our partners to accelerate their growth in an ever-changing payments landscape.”

Read more: Propel, Barclays Team To Offer Asset Access For SMBs

“Post pandemic, SME merchants will add real value to the economy,” said Jon Maycock, Commercial Director at Propel. “We are excited to be partnering with emerchantpay. The significant value that their payment services provide to the SME community underpins the liquidity of the retail industry.”

The 20-year-old emerchantpay has 17 offices around the world, and is the first payment service provider to form a partnership with Propel.

Propel has worked with more than 40,000 businesses to help them gain access to financing to let them acquire critical equipment. This agreement is part of a series of partnerships between the company and financial organizations like Barclays Business Banking and Azets.

The Barclays partnership, announced in 2020, offered access to new assets for small and medium-sized businesses (SMBs).

The partnership connects the Barclays bank network to Propeller, providing quick credit decisions up to 100,000 pounds for SMBs that bank with Barclays.