The business landscape is quickly changing as more and more companies turn to e-commerce to meet their growing demands and keep up with the times. With the surge in online shopping and access to a wide range of products, businesses are increasingly turning towards digital platforms to expand their reach. But owning and managing one is no easy feat. As entrepreneurs and small business owners, we have to take on so many different roles and make countless decisions every day that it can be overwhelming. One of the decisions that business owners have to make regularly is how to provide cash flow to keep the business running.
In today’s digital world, businesses need access to payment solutions that are fast, reliable, secure and affordable in order for them to be successful. If you’ve been exploring funding solutions for your small business, chances are you’ve come across Payability.
What is Payability?
Payability is a financial technology platform designed to ease the financial challenges facing e-commerce entrepreneurs by providing fast and flexible capital access solutions. Payability provides working capital solutions to online sellers on marketplaces such as Amazon, eBay, Walmart, Shopify, Etsy and more. Founded in 2017 and based out of New York City, the company focuses on helping entrepreneurs grow their businesses through streamlined access to payments from marketplaces.
How Does It Work?
Payability works by connecting directly to your marketplace account and providing daily payments for sales instead of waiting several days or weeks for settlement funds to arrive, as can be the case with traditional payment systems. This accelerates your cash flow so that you have quicker access to money to reinvest into growth opportunities, pay bills or whatever else you need it for.
What Does Payability Offer?
The main benefit associated with working with Payability is faster access to capital – often up to two days after the sale – so that online sellers don’t have to wait around before they can invest in additional resources, grow their business and pursue other objectives. Additionally, like most merchant services providers today, Payability also comes with merchant protection programs in case something unexpected should happen with an order or returns process. If you opt into these programs, then Payabilty will cover any fraudulent orders, which means that you won’t have to worry about losing money on bad transactions.
Payability also offers Instant Access, where business owners don’t have to wait around for their marketplace payouts but instead get them the next day. Instant Access lets you receive up to 80% of the cost from your previous day’s sales within 24 hours after it happens (minus applicable fees). This allows entrepreneurs to access funds quickly and easily to take control of their cash flow.
Payability also offers Instant Advance, which lets you take an advance on your future sales. You can get up to $250,000 in working capital depending on your average monthly marketplace sales revenue.
How Does Payability Compare?
Payabilities suite of financial management solutions makes it possible for entrepreneurs to increase their cash flow while managing risk simultaneously so that they can focus on scaling their operations without fear of falling behind due to slow receivables updates from marketplaces like Amazon, Shopify and others.
Payability reviews are generally positive, with customers praising the company for its fast and reliable payments, merchant protection programs, and customer service. Many users also appreciate the ability to access funds quickly and easily through Instant Access and Instant Advance. Payability has an A+ rating from the Better Business Bureau, which is a testament to their commitment to providing quality services to their customers. Additionally, Payability has been featured in various publications such as Forbes, Entrepreneur Magazine, Inc., and TechCrunch for its innovative financial solutions. All in all, Payability is a great option for entrepreneurs looking for quick access to capital without having to wait around for marketplace payouts.
Should You Use Payability?
Payability is a great option for entrepreneurs and small business owners who need access to fast, reliable and secure payment solutions. The platform offers a range of benefits, including faster access to capital, merchant protection programs and Instant Access and Advance options. Payability also has a strong customer service team that is available to answer any questions you may have about the platform. Ultimately, whether or not you should use Payability will depend on your individual needs and goals.
How to Get Started with Payability
Getting started with Payability is easy and straightforward. All you need to do is sign up for an account on the Payability website, connect your marketplace accounts, and you’re ready to go. Once your accounts are connected, you can start receiving payments from marketplaces like Amazon, eBay, Walmart, Shopify, Etsy and more in as little as 24 hours.