In the Press
With Brandon Spear
By Brandon Spear
For small and midsize businesses (SMBs), competing against big-name brands can seem difficult, if not impossible. Numerous advantages, including greater brand recognition and larger budgets, often stack the deck against SMBs.
By Brandon Spear
By Brandon Spear
By Leslie Collins – Staff Writer, Kansas City Business Journal | Jan 31, 2019
MSTS' new credit-as-a-service offering for small and midsize businesses is resonating in the market and helped the Overland Park company reach a new industry.
Buoyed by reports of record 2018 holiday spending, analysts predict more retail growth in 2019, particularly in the evolving small and midsize business (SMB) sector. Advanced technologies have introduced SMBs to a big-brand experience and new set of challenges.
When it’s time to pay up, commercial buyers may be in for a pleasant surprise when purchasing online. The launch of Amazon’s Pay By Invoice feature last year opened the door for more flexible B2B payment schedules.
MSTS, a global B2B payment and credit solutions provider, today announced that its innovative Credit as a Service solution is now available to mid-market and small businesses.
The original enterprise product, with a record of accelerating sales growth for companies by as much as 500 percent, has been optimized to meet the needs of businesses with simpler payment and credit processes. The cloud-based Credit as a Service solution for mid-market businesses can issue credit lines in less than a minute, automate the customer onboarding process and apply unique B2B customer invoicing, accounts payable and payment term requirements – providing customers flexibility and an enhanced experience.
“Credit as a Service is designed to streamline back-office processes for businesses with the ultimate result being that these sellers are able to grow faster,” said Brandon Spear, president of MSTS. “At the SMB level, this promise can be even more challenging, which is why we’re excited to offer these companies an enterprise-grade solution that can scale with them as they grow.”
MSTS works with B2B companies across transportation, manufacturing, retail and eCommerce. A FinTech pioneer since 1978, MSTS makes B2B commerce effortless by reducing working capital through dedicated lines of credit and underwriting services, providing alternative payment options, and more closely aligning buyers’ accounts payable and sellers’ accounts receivable departments.
MSTS’ Credit as a Service has a suite of tools to accelerate commerce, including InvoiceMe, which integrates into eCommerce platforms at checkout and provides a payment alternative to credit cards – thereby reducing transaction fees by 30 percent.
“Today’s B2B customer expects the same seamless experience found in B2C. This means eliminating the payments friction that’s historically existed in B2B,” said Spear. “Our InvoiceMe integration allows for a quick, frictionless transaction that mirrors B2C.”
The solution is configurable, too, as more advanced features can be added as needed by growing companies, such as POS integration, a variety of buyer payment options and customer AP integrations that improve retention with buyers. These are just some of the choices Credit as a Service customers will have to further enhance their system with MSTS’ enterprise capabilities.
Read the full article on The Fintech Times, here.