Forwardly has added a “pay by credit card” option to its business-to-business (B2B) payments platform.
With this feature, small and medium-sized businesses (SMBs) can both accept card payments for outstanding invoices from their clients and make card payments to pay business bills to vendors and contractors, the company said in a Tuesday (June 11) press release.
“Our mission at Forwardly is to provide small businesses with the tools they need to succeed financially,” Nick Chandi, CEO and co-founder of Forwardly, said in the release. “In addition to faster payment options such as instant payments and same-day ACH, we are excited to introduce credit card payments, further increasing the financial flexibility available to small businesses.”
Accepting credit card payments enables businesses to cater to client preferences, reduce debtors, streamline workflow and automate reconciliation, according to the release. Many clients prefer the flexibility and convenience of paying by credit card.
Paying business bills to vendors and contractors with cards provides benefits such as rewards, fraud protection and the ability to manage cash flow by delaying bill payments, the release said. Forwardly enables paying with cards for no monthly fee.
Forwardly’s solution supports all major credit cards, ensures the secure storage of credit card information, and enables businesses to add unlimited team members and establish bill approval workflows at no cost, per the release.
Existing and new Forwardly users can begin accepting card payments for their small businesses after completing a five-minute onboarding process, according to the release.
“By enabling credit card payments for its users, Forwardly empowers small businesses to cater to their clients’ preferences, potentially increasing customer and vendor satisfaction and retention and leading to fewer overdue invoices or bills,” the company said in the release.
Forwardly was launched by ForwardAI in June 2023 as a B2B payments platform that enables real-time payments. The platform is designed to help SMBs get paid faster, save money on processing fees and streamline workflows.
The platform can be used without creating a new bank account, changing banks or prefunding a settlement account or wallet. It also eliminates manual tasks by integrating with bank accounts and accounting systems — allowing payments to be reconciled instantly.