New partnership offers Now Prepay customers access to OnDeck loans to fund growth initiatives.
Toronto, ON. July 13, 2017 – Now Prepay, a division of Payment Source, is pleased to announce a new partnership with OnDeck Canada, a leader in online lending to small businesses. Through this partnership, Now Prepay, a division of Payment Source, is offering its customers access to the OnDeck platform which provides customers an easy to use, quick experience, managed online. The simplicity and speed of the solution will offer retail merchants a seamless experience and provide them with the much-needed access to capital required to fund core growth initiatives.
“We’re always looking for ways to increase the value of the business services we provide to our customers,” says George DeMarchi, President, Payment Source. “With our Now Prepay division, we’re looking to give our retail merchants the edge they need to continue to succeed and grow their business. With over 10 years of industry experience, we’re certain that OnDeck will fill a need our customers have and we’re excited to be facilitating this relationship.”
The strategic partnership between OnDeck Canada and Payment Source is a major step forward for Canadian businesses, especially those retail companies looking to fund immediate needs in a short period of time.
“Small businesses have different needs, often requiring smaller amounts of money on-demand to fund critical growth inputs like hiring, technology and inventory,” says Gary Fearnall, Country Manager, OnDeck Canada. “We are excited to partner with Payment Source to expand the accessibility of capital to small business owners to enable them to continue to grow.”
OnDeck’s advanced lending technology and staunch dedication to customer service has enabled it to deliver more than US$6 billion dollars in capital to over 60,000 businesses across the United States, Canada, and Australia.
“OnDeck focuses on providing lending solutions to small businesses and have proven results in helping them grow their business,” says Grace Caputo, General Manager, Payment Source. “Their familiarity with small businesses and their speed to market makes them an ideal partner for us.”
About Payment Source Inc.
Payment Source provides alternative payment solutions to organizations of all sizes and has the solution for every retail environment including; POS terminals, PC applications, mobile apps and integrated solutions. Now Prepay, a Payment Source company, provides prepaid mobile top ups, gift cards and financial products and services to more than 15,000 retailers across Canada. Through the proprietary Loadhub® network, Payment Source provides secure, real-time in-person payments capability in every community across Canada. Loadhub is the best possible solution for customers of reloadable card programs, mobile wallets, and anyone else looking to load funds to an account or take one-time payments or collections.
About OnDeck Canada
OnDeck Capital Canada, ULC, or OnDeck Canada is a wholly-owned subsidiary of On Deck Capital, Inc. (NYSE: ONDK), or OnDeck, the leader in US online small business lending. Since 2007, OnDeck has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. OnDeck’s proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry’s widest range of term loans and lines of credit. To date, the company has deployed over US$6 billion to more than 60,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website www.businessloans.com.
For more information, please visit www.ondeck.ca
OnDeck® is a Registered Trademark. All rights reserved. 1400 Broadway, New York, New York.
Press Contact:
Allison Cutler
Director, Marketing & Communications
Payment Source
416.255.8897
Andrea Mancini
Consultant
CASACOM for OnDeck
amancini@casacom.ca
416-944-2145