Worldline and jaris combine forces to simplify access to commercial capital for small businesses
The jaris solution is fully integrated into the Worldline payment system making it easier for small businesses to borrow money.
Merchants can choose the amount of the loan they want based on their business needs.
Once executed, the amount of the loan is deposited in their bank account on the next business day.
Brussels, 13 January 2020 – Worldline [Euronext: WLN], the European leader in payment and transactional services industry, has entered into a partnership with jaris, an international integrated credit service, aimed at simplifying and facilitating access for small businesses to the credit they need to develop. Obtaining professional credit is not always obvious for merchants: the jaris solution grants them a fixed-rate loan that they reimburse using a percentage deducted automatically from their daily sales through electronic channels (1).
Developing a new point of sale, investing in new equipment, taking on staff, or launching a marketing campaign requires capital which merchants cannot always access easily. Applying for a loan can also prove to be an arduous task and is accompanied by an entire array of administrative formalities which can take a great deal of time.
The jaris solution makes the merchant's life easier. Since it is fully integrated into the Worldline payment system, it is possible to respond rapidly to the financial needs of clients. This solution is complementary to existing loans and is intended to simplify the life of merchants. The solution has several advantages:
Simple access to credit: The jaris loans are offered to merchants who are Worldline clients. The merchant does not need to fill out an application for a loan, but simply completes an online contact form. jaris analyses the client’s profile, i.e. his history of sales, to determine whether he is eligible and makes him a customized offer. The merchant then approves the total amount to be reimbursed including the fixed loan fee. The reimbursement must be carried out in 18 months from the signing of the contract.
The loan is granted quickly: Once the loan agreement is electronically signed by the merchant, the money is put on the merchant’s bank account the next bank business day.
The reimbursement is automatic and invisible: the amount of the loan is reimbursed automatically in the form of a percentage of the sales each time a purchase is made through electronic channels (2) at the merchant with the accepted cards (international cards such as VISA, VPay, Mastercard, Maestro, JCB, China Union Pay, American Express and Diners Club). This means that the reimbursement follows the company’s cash flow: the merchant repays more when sales are stronger and less when they slow down.
There are no unpleasant surprises: jaris offers loans at fixed rates, calculated based on the sales history provided by Worldline, the amount of the loan, and the reimbursement percentage are posted by the company. There are no periodic interest, monthly invoices, late fees, penalties, or other hidden charges.
Chris Aristides, CEO jaris: “We are excited to partner with Worldline to bring Credit as a Service (CaaS) to their merchants and to continue delivering on our mission to provide small businesses access to capital. Through our joint technical integration with Worldline, we are committed to providing competitive working capital advances with the best user experience.”
Vincent Roland, CEO Worldline Belgium and General Manager for Services to Merchants, Worldline Group: “In joining forces with jaris, Worldline has shown its will to go even further in supporting its clients by providing a highly automated financing service. One of the biggest challenges to growth that small businesses have to face is the lack of investment capital. Together with jaris, we intend to provide our clients with easy access to the funds they need to grow.”
The first phase of the project was launched in July 2019 in the Belgian market and will be deployed on a large scale in other European countries in 2020.
Marleen Van Opdenbosch of NoiPerVoi Fashion: “As a wholesaler of women's Italian design fashion, seasonality is an important factor. During periods of high activity, I need to rely on professional credit to finance my inventory. The formula offered by jaris and Worldline is ideal to meet my needs that fluctuate from one season to another.”
Worldline [Euronext: WLN] is the European leader in the payment and transactional services industry. With innovation at the core of its DNA, Worldline’s core offerings include pan-European and domestic Commercial Acquiring for physical or online businesses, secured payment transaction processing for banks and financial institutions, as well as transactional services in e-Ticketing and local and central public agencies. Thanks to a presence in 30+ countries, Worldline is the payment partner of choice for merchants, banks, public transport operators, government agencies, and industrial companies, delivering cutting-edge digital services. Worldline’s activities are organized around three axes: Merchant Services, Financial Services including equensWorldline and Mobility & e-Transactional Services. Worldline employs circa 11,000 people worldwide, with estimated pro forma revenue of circa 2.3 billion euros yearly. worldline.com
jaris is a global financial technology company automating the credit process to provide merchants around the world access to capital. jaris’ integrated Credit as a Service (CaaS) solution provides small businesses with working capital advances that are repaid with a percentage of daily card sales processed through partner payment systems. jaris delivers and manages all aspects of the credit lifecycle through a highly automated and scalable process. jaris was founded in 2017 and has headquarters in Silicon Valley and Brussels. www.jaris.io
1 Valid only for merchants who have a purchase agreement with Worldline.
2 Valid only for merchants who have a purchase agreement with Worldline.