NEW YORK, June 28, 2018 /PRNewswire/ -- Payability, the leading provider of friction-free financing for eCommerce marketplace sellers, today announced the availability of its Instant Advance financing offering. Payability is making it easier for customers to grow their businesses with access to future receivables they can put to use across multiple marketplaces and fuel continued growth. Additionally, Payability is expanding its offerings to sellers on online marketplaces Newegg, Tophatter, Walmart and Jet.com.
Instead of bank loans that rely on personal credit scores, a seller can qualify for Payability's Instant Advance based on their marketplace sales history and performance metrics. Unlike traditional loans that charge early payment penalties, if Payability collects the total future receivables sooner than expected, the seller will receive an early payment rebate. Additionally, there are no origination fees, application fees or interest applied to an Instant Advance. Working seamlessly alongside other financing options, Payability's Instant Advance is a simple, fast and transparent way for businesses to get the lump sum capital they need to buy more inventory, launch new products, negotiate better deals from suppliers and take advantage of one-time buying opportunities.
"At Payability we aim to support our customer's growth however we can, both today, and as they grow into the future. With the launch of Instant Advance and additional marketplaces, we're able to provide not only significant growth opportunities to our sellers, but also give them access to financing options that span across their marketplace channels in addition to Amazon," said Keith Smith, CEO of Payability. "Tophatter shares our mission of supporting seller growth, which is why we're especially excited about our partnership with the fast-growing eCommerce marketplace and advancing payments to their sellers."
"Over the last few years, our discovery shopping platform has grown significantly," said Sree Menon, Head of Strategy and Global Sales Operations at Tophatter. "Businesses can move inventory very quickly on Tophatter, so when trying to meet demand they can run into capital constraints that can slow down their growth. By partnering with Payability to offer its smart financing options, our sellers can make more strategic business decisions, faster. Because ultimately, their success is our success."
While Amazon accounts for nearly 44 percent of eCommerce in the U.S., the most successful sellers know they must be active across multiple marketplaces to reach more consumers and stay competitive. By giving sellers access to advanced receivables across multiple marketplaces, Payability is meeting this new demand and giving sellers more opportunities to proactively invest in inventory and growth.
The addition of Instant Advance is a complement to Payability's flagship product, Instant Access, which provides sellers with daily, next-day payouts on marketplaces that typically hold funds for 2-4 weeks. Payability's customers who sell on multiple marketplaces like Amazon and Tophatter are benefiting from daily payouts of sales from many marketplaces versus only one. And with help from the Payability dashboard, they save time by not juggling payment dates and can easily keep track of all sales across multiple marketplaces.
To learn more about Payability, Instant Advance, and its multiple marketplace support, visit www.payability.com.
Payability gives eCommerce sellers fast access to revenues they've already earned from eCommerce marketplaces including Amazon, Newegg, Tophatter, Walmart and Jet.com. Fast, simple and flexible, Payability's customers receive the capital they need to reinvest in inventory, drive more sales and grow their business faster.