Canada: Equifax and Thinking Capital launch payments platform for SMEs

Equifax and Thinking Capital have partnered to launch a new SME payment platform, BillMarket. The platform enables SMEs to receive payments and understand their credit profiles.

Specifically, BillMarket can add value to SMEs by helping to free up their working capital – According to Thinking Capital CEO, Jeff Mitelman, “Through BillMarket, small businesses can translate their credit grade to real-time available credit that they can use to extend payments with suppliers by up to 120 days. BillMarket represents a cash flow revolution for the Canadian small business market.”

Additionally, BillMarket uses Equifax’s Small Business Grade solution, allowing SMEs to access free credit grades, calculate their credit limit, and extend their payment terms with suppliers.

The Bill Market platform also has benefits for suppliers, enabling them to identify potential risks of late payments, ensuring suppliers are paid on time, and providing them with more customers.

Lisa Nelson, President of Equifax, commented: “We created a grade for small businesses so they can better understand the quality of their business credit and clearly communicate it to suppliers and other interested parties.”

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