PayJustNow and Merchant Capital Forge Partnership for Growth

In a bid to bolster access to working capital for retailers, leading South African Buy Now Pay Later (BNPL) provider PayJustNow has joined forces with trusted alternative lender Merchant Capital to introduce a new cash advance offer, PayJustNow Advance.

Craig Newborn, CEO at PayJustNow, underscores the challenges facing the retail sector amidst economic headwinds, which have led to declines in retail sales as cash-strapped consumers tighten spending. Newborn emphasizes the importance of quick access to the right funding, believing it provides South African retailers with a better chance to capitalize on opportunities for growth and success.

Accessible working capital is pivotal for business owners, particularly retailers who must remain responsive to customer needs and market trends. Today, retailers are leveraging funding to reinvest in their businesses, strategize for growth, and optimize day-to-day operations.

Newborn emphasizes the significance of partnering with an entrepreneur-led business like Merchant Capital, which comprehends the intricacies of South African businesses and offers innovative payment and funding solutions tailored to their needs.

Merchant Capital’s cash advance offering has garnered attention from business owners seeking to scale their operations. With fast funding access within 24 hours and affordable repayment rates, merchants can invest in seasonal stock, launch marketing initiatives, establish online platforms, or enhance in-store experiences to align with customer demands.

Ryan Cohen, Co-Founder and Chief Relationship Officer at Merchant Capital, stresses the importance of understanding the entrepreneurial journey and tailoring offerings to suit each business’s unique requirements. This partnership, driven by entrepreneurs themselves, aims to empower small and medium-sized businesses to innovate and expand their operations, thereby contributing to economic growth and job creation.

Cohen highlights Merchant Capital’s track record of enabling over 45,000 businesses to thrive, with a significant percentage returning to explore new growth prospects. The partnership with PayJustNow holds promise for supporting PayJustNow’s growing merchant base.

PayJustNow merchants will receive personalized funding offers based on cash flow and affordability data, ensuring that funding contributes to their growth without straining cash flow. Newborn emphasizes that retailers can apply for a PayJustNow Advance immediately or at their convenience, aligning with their business objectives and growth trajectories.

In essence, the collaboration between PayJustNow and Merchant Capital signifies a strategic alliance aimed at empowering South African retailers with the financial resources and support they need to flourish in today’s competitive market landscape.