Shift and payFURL integrate for simple trade finance management

Shift and payFURL integrate for simple trade finance management

Shift, a leading provider of credit and payment platforms to Australian businesses, has announced an integration of Shift Trade with payFURL, a payments orchestration platform that enables businesses to offer multiple payment solutions through one ecommerce platform.

Shift Trade addresses archaic trade terms programs, allowing customers to choose terms that suit them, while giving suppliers certainty of payment without delays.

As an embedded finance solution, it streamlines business trade, payments, customer onboarding and collections processes and is the first business-to-business (B2B) solution offered through payFURL.

According to Paul Barker, Sales Director – Merchant at Shift, B2B suppliers are digitising their purchase ordering systems to save time and make the buying, payment and trade terms experience easier for their customers.

“By moving to online purchase ordering, suppliers are delivering a more personalised buyer experience, increasing visibility of their range of products and maintaining or reducing operating costs,” said Paul.

“This integration makes it easy for payFURL’s customers to enable B2B account payments at checkout via their enterprise resource planning or order management platform.

“The end result is a centralised customer onboarding, payments and trade terms management, reconciliation and reporting toolkit that enables B2B suppliers to automate many arduous accounts receivable processes in a single integration.”

Businesses using payFURL as part of their ecommerce and online ordering platforms now have easy access to Shift Trade reducing the average number of days it takes for invoices to be paid, shortening the cashflow conversion cycle and eliminating credit and payment risk while providing their customers a range of term options.

Scott Lingard, Chief Commercial Officer of payFURL commented that established and growing businesses need their payments processing and financial management technology to be simpler, while seeking to meet customer demand for a range of payments methods.

“Many businesses want to offer various trade, finance management and payment options, but don’t want the complexity and technical overhead that can come with having to individually integrate various platforms and solutions,” said Scott.

“Integrating Shift Trade simplifies the process with an approach custom-built for B2B suppliers, while meeting the need for businesses to choose their own trade terms based on their individual circumstances and cashflow.”