Just a few days ago we hinted at some “big news” coming soon from small business financing and vendor payment specialist, Behalf.
The wait is over. In a collaboration with MasterCard and Comdata, Behalf will offer SMBs alternative payment terms for merchants that accept MasterCard. Behalf will take advantage of MasterCard’s Virtual Card platform, while Comdata will provide payment processing.
“Our partnership with Comdata, coupled with MasterCard’s reach, will dramatically improve the usability, scale, and security of what is already a great product,” said Benjy Feinberg, Behalf founder and CEO. “We can’t wait to bring MasterCard-accepting merchants onto our vendor platform, making it easier for small businesses to purchase the goods, services, and supplies they need.”
Behalf’s technology helps SMBs better manage cash flow and pay vendors faster. The company lends up to $10,000 for up to 120 days, enabling small business owners to pay vendors “on Day One” and repay Behalf on terms that work for them. And with the new partnership with MasterCard, added Feinberg, SMBs using Behalf will be “earning cash incentives just by paying their bills.” Vendors benefit by receiving prompter payment, dealing with fewer collections issues, and enjoying better cash flow, as well.
Founded in 2011 and based in New York City, Behalf made its Finovate debut at the New York conference last fall, where it demonstrated its vendor platform. Get to know more about Behalf in our latest Finovate Debut feature.