Worldpay from FIS Partners With Liberis for SME Funding
Liberis has signed a two-year partnership extension agreement with Worldpay from FIS, a deal that will enable Worldpay’s small and medium business (SME) customer base continued access to growth funding through Liberis’ business finance division.
The partnership extension helps Worldpay consolidate its position as a leader in ecommerce and payments processing technology, aiding its mission to close the growing funding gap global SMEs currently face.
Worldpay & Liberis: In support of SMEs
Today, SMEs globally face a combined funding gap (compared to large businesses) of US$5.2tn, according to the International Finance Corporation.
This growing rift could have potentially damaging consequences for the global economy, given over 99% of private sector businesses in leading global economies are, indeed, SMEs – the US and UK included.
By extending its partnership with Liberis, Worldpay hopes to empower as many SMEs as possible by providing easy access to personalised, revenue-based finance options via Liberis’ embedded lending technology.
By integrating third-party (Liberis') transactional data in the lending process, Worldpay’s merchant clients can get instant pre-approved financing, reducing the fear of rejection from SMEs and allowing rapid access to funding when needed.
Of course, the two-year partnership extension between Worldpay and Liberis will come with additional innovation initiatives too. This includes a four-click application process for SMEs to receive up to US$1m in funding from Worldpay, made possible through a single API integration with Liberis.
By continuing to drive these payments efficiencies for businesses worldwide in partnership with Liberis, Worldpay feels it can substantially address the current funding gap faced by SMEs.
To date, Liberis has provided more than US$1bn in financing through over 55,000 transactions across Europe, the USA, and the UK, with hopes for much more in the future.
Rob Straathof, CEO of Liberis, says: “We understand the unique challenges SMEs face when securing financing, and our collaboration aims to address those challenges head-on.
“With our combined reach and resources, we can provide SMEs with the flexible and personalised financial solutions they need to thrive in today's competitive business landscape. This collaboration demonstrates the strong commitment of Liberis and Worldpay to closing the SME funding gap that is holding up not only these companies but the wider world economy as a whole.”
Seamus Smith, EVP Group President at FIS, adds: “Embedded finance is a key pillar of growth for Worldpay.
“The embedded finance opportunity is expected to reach US$606bn in 2025, and working with partners like Liberis is essential to enabling Worldpay to capture our share while at the same time providing the best and most relevant products and services to our customers. Consumers want what they want, when and where they want it.”
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