Small Business Lender Kabbage To Reduce Processing Speeds With Kabbage Payments

Kabbage Inc., a data and tech platform concerned with automated cash flow solutions for small businesses, this week announced the release of a new payment-processing solution.

The development comes after a successful beta test; now, with Kabbage payments, invoices can be settled in as quickly as 24 hours.

I“Since 2011, we’ve helped hundreds of thousands of small businesses access over $8 billion in funding. We know first-hand a primary need is to cover cash-flow gaps while waiting to be paid,” Kabbage CEO Rob Frohwein said.

“Kabbage Payments not only expands our suite of products, but the very definition of our company. We deeply believe in the mission of small businesses and understand what they need to succeed--namely, more time building their businesses and less time worrying about cash flow.”

See Also: Flexibility, People Are Key To Lender Kabbage's Success, Co-Founder Tells Benzinga Fintech Summit

Among the features is a new custom pay link, which allows customers to create unique URLs for their business and send payment requests through text, email or web to collect card payments quickly.

“For years, I’ve waited anywhere from 15 to 30 days to get paid for my work,” Lee Brewer, owner of Lee Brewer Enterprise LLC and customer at Kabbage said. “Now, I send clients my Kabbage custom pay link through email or WhatsApp and get paid the next day.”

The Kabbage Payments solution will provide existing and new Kabbage customers next-day deposits, no-fee online invoicing, card-payment support and a payments management dashboard.

You can check out platforms like Kabbage at the fifth annual Benzinga Global Fintech Awards on Nov. 19 in New York City.