Forwardly has introduced a “pay by credit card” feature to its business-to-business payments platform, aiming to enhance financial flexibility for small and medium-sized businesses (SMBs). This development allows SMBs to accept credit card payments for invoices and make payments to vendors and contractors using credit cards, thereby catering to client preferences and optimizing cash flow management. By integrating this feature, Forwardly aims to streamline workflows and provide additional financial tools to its users.
Previously, Forwardly had focused on providing real-time payments and same-day ACH options to its users. These features were beneficial in reducing the time it took for SMBs to receive payments and in cutting down on processing fees. However, the addition of credit card payments marks a significant enhancement as it offers more flexibility and convenience for both clients and businesses. Other platforms have also started incorporating similar features, but Forwardly’s implementation is noted for its user-friendly onboarding and seamless integration with existing financial systems.
The introduction of credit card payment options is a strategic move by Forwardly to align with client preferences and industry trends. Many clients prefer using credit cards due to the flexibility and convenience they offer. The ability to pay vendors and contractors with credit cards also provides benefits such as rewards and fraud protection, making it a win-win for SMBs.
Streamlined Financial Operations
By integrating credit card payments, Forwardly helps businesses manage their cash flow more effectively. The company ensures secure storage of credit card information and supports all major credit cards. Additionally, there are no monthly fees for using this service, which adds to its attractiveness for SMBs.
Furthermore, the platform allows businesses to add unlimited team members and establish bill approval workflows at no extra cost. This feature ensures that payments are managed efficiently and reduces the administrative burden on businesses.
Quick and Easy Onboarding
New and existing users can start accepting credit card payments after a simple five-minute onboarding process. This quick setup time is crucial for small businesses that may not have the resources to navigate complex financial systems. Forwardly’s platform is designed to integrate seamlessly with existing bank accounts and accounting systems, eliminating the need for additional accounts or prefunding settlement accounts.
The ability to cater to client preferences by accepting credit card payments can lead to increased customer satisfaction and retention. Forwardly’s solution is designed to reduce the number of overdue invoices and bills, thereby improving the overall financial health of SMBs.
Key Inferences
- Forwardly enhances SMBs’ financial flexibility with credit card payments.
- Secure storage and no monthly fees make it an attractive option.
- Quick onboarding and seamless integration benefit SMBs operationally.
Forwardly’s new feature of allowing credit card payments is a significant step towards empowering small businesses financially. The platform’s ability to accept credit card payments addresses a crucial need for flexibility and convenience in financial transactions. By offering this feature without any monthly fees and ensuring secure transactions, Forwardly has positioned itself as a competitive player in the B2B payments market. Additionally, the quick onboarding process and seamless integration with existing financial systems make it highly user-friendly, especially for SMBs with limited resources. This enhancement not only caters to client preferences but also provides SMBs with tools to manage their cash flow more effectively, potentially reducing financial stress and improving business operations.
