Paysafe has launched Paysafe Accelerated Funding, a suite of same- or next-day funding settlement options for U.S.-based small businesses (SMBs). This offering leverages PayPal’s collaboration with Company.com and Ingo Money to help digitize merchant settlement for real-time funding transactions.
The portfolio includes three separate funding options: Express Funding, Same-Day Funding, and Next-Day Funding. All three options enable merchants to acquire their funds faster, but each requires the retailer to apply for funding before a specific time. Express Funding enables merchants to receive their available funds within a few hours via a linked debit card, during weekdays as well as on weekends and holidays, as long as the owner applies before 6 pm ET. Owners must apply for Same-Day Funding by 8 am ET, and Next-Day Funding by 11 pm ET.
As many as 79% of small business owners can’t afford internal salaries; 23% can’t invest in new equipment; and 17% are unable to build up inventory due to insufficient availability of funds, according to a survey conducted by Fundbox. The Accelerated Funding program is designed to enable owners who rely on immediate sales to help pay for these expenses instantly, instead of relying on sales that typically take one-to-two business days to process.