LeaseLink and Paynow, two fintechs from the mBank’s (Poland) portfolio, have started cooperating in financing for business customers. Thanks to integration with the Paynow payment gateway, SMEs can directly use LeaseLink and finance purchases for their businesses without cash. Importantly, thanks to automatic process communication between LeaseLink, Paynow, and the supplier, the customer path is intuitive, convenient, and fast.
LeaseLink is a fintech from the mBank group that allows customers to divide business payments for purchases in online stores and stationary sales points into convenient installments. Since June, several dozen thousand of its customers have been able to pay their invoices using fast payment methods. The functionality was created thanks to the strategic cooperation of the Polish fintech with the Paynow brand. This partnership will allow them to reach an even wider group of customers looking for fast, efficient, and complete online financing for their businesses. Stores will gain a wide ecosystem of payments for businesses, a solution that increases the average value of the shopping cart and the ability to reach a new group of recipients.
“Fast and seamless integration, an interesting ecosystem of related products, and an innovative approach to business payments are challenging for every fintech sector business. Such synergy, especially within one capital group, brings tangible benefits for customers, and allows for the exchange of knowledge between experienced businesses,” – says Bartosz Borowski, Member of the Management Board at LeaseLink.
The businesses are working on integrating their systems to offer payment solutions to business customers through Paynow’s integration components, by including operational leasing and business installments as payment methods in the gateways.
“The element that we pay special attention to in the development of Paynow is providing an innovative, wide, and cost-effective range of payment integration methods for stores. The key element of our cooperation with LeaseLink will be the construction of a common integration layer,” – says Jarek Stefański, Chairman at mElements.
Thanks to these solutions, Paynow will become an attractive and popular payment method for SMEs. Thanks to this, stores cooperating with LeaseLink will be able to incorporate Paynow solutions into their payment methods in an extremely simple and intuitive way.
“The WooCommerce plugin is currently being implemented. LeaseLink products will soon appear on other Paynow integration components to make innovative payment methods available to the widest possible audience as quickly as possible,” – adds Jarek Stefański.
The companies launched the first related products in early November. Based on current experience and market development, further functionalities and product developments will be successively added.
Source: the Bank`s press release dated October 27, 2023
