Paydibs has expanded into merchant financing as it looks to serve businesses beyond payment acceptance.
The Malaysian fintech has partnered with Anchor Capital to give eligible merchants digital access to working capital.
Anchor Capital is licensed by the Ministry of Housing and Local Government (KPKT).
Repayments are automatically deducted from weekly payment settlements and adjust according to each merchant’s transaction performance.
The arrangement is designed to give businesses more flexibility in managing cash flow.
The partnership is Paydibs’ first with a financing provider.
“Payments are where our relationship with merchants begins, not where it ends,. Merchant financing is a natural extension of our mission to go beyond transactions.
By leveraging the transaction insights and relationships we have built with our merchants, we can help make access to working capital more relevant, convenient and seamless for eligible businesses.”
said Tee Kean Kang, Chief Executive Officer of Paydibs.
Paydibs also provides the NEO all-in-one payment terminal for SMEs.
It has partnered with Great Eastern General Insurance to offer business protection to merchants.
Featured image: Edited by Fintech News Malaysia, based on image by Paydibs
