Brentwood, Tenn. – January 8, 2015

Comdata is collaborating with Behalf and MasterCard to offer a more flexible and convenient way for small- and mid-sized businesses (SMBs) to pay their vendors. The initiative helps improve cash flow for SMBs by providing payment terms to SMB’s for their payments to merchants that currently accept MasterCard and are approved for participation by Behalf. 

Comdata, Behalf and MasterCard Collaborate to Help SMBs to Improve their Cash Flow and Extend Payment Terms.

January 08,2015

Brentwood, Tenn. – January 8, 2015

Comdata is collaborating with Behalf and MasterCard to offer a more flexible and convenient way for small- and mid-sized businesses (SMBs) to pay their vendors. The initiative helps improve cash flow for SMBs by providing payment terms to SMB’s for their payments to merchants that currently accept MasterCard and are approved for participation by Behalf.

With Comdata and MasterCard’s partnership, Behalf’s product benefit adds the ability to use a unique, secure virtual card for both point of sale and online purchases while receiving convenient payment terms.

Currently, Behalf provides simple working capital lines to small businesses to help bridge the cash flow gap between when they have to pay a vendor for a purchase—typically within 30 days—and the time it takes to generate revenue from that purchase. To cover this gap, Behalf will pay an SMB’s vendor invoice of up to $10,000 per purchase, and the SMB then pays Behalf back over up to 120 days. SMBs receive favorable rates and terms while their vendors benefit from more rapid cash flow, lower risk of fraud, fewer credit losses and increased sales. 

Bob Sneed, senior vice president at Comdata, describes the business relationship as a win, win for small businesses. He noted that Comdata and Behalf share a common vision that innovation in payment technology can dramatically increase the rate of growth of small businesses.

“Our unique virtual credit card technology makes Comdata the perfect payment processing partner for Behalf’s expansion,” Sneed said. “Small businesses can pay their vendors quicker, while earning cash incentives just by paying their bills that can contribute to their bottom line. It’s a win for vendors as well as the small business.”

Behalf’s CEO and founder Benjy Feinberg noted that the growing demand for Behalf among SMBs is a clear indication of the critical need that it meets in the marketplace – simple, fast, flexible and secure purchase financing.

“Our partnership with Comdata and MasterCard will dramatically improve the usability, reach and security of what is already a great product,” Feinberg said. “We can’t wait to bring MasterCard’s merchants onto our vendor platform, making it easier for small businesses to purchase the goods, services and supplies they need.” 

 

For further information, please contact:

Comdata contact
Heather Floyd
hfloyd@comdata.com
615-376-8739

Behalf contact
Jennifer Soffen
jennifer@behalf.com
301-642-1422

 

About Comdata Inc.

Comdata Inc. is a leading provider of innovative payment and operating technology that drives actionable insights from spending data, builds enhanced controls and positively impacts its clients’ bottom lines. Comdata is part of one of the largest payment companies in the world and is the second largest commercial issuer of MasterCard in North America. Our 5,300 employees partner with companies in 53 countries to manage more than 1.9 billion fleet, corporate purchasing, payroll and healthcare transactions annually.