Sage Payment Solutions Launches Lending Program with Kabbage White Label
- Kabbage has announced that Sage Payment Solutions is the first white label customer of its fully branded marketplace lending platform.
Expanding its alternative finance lending model beyond the small and medium sized enterprise (SME) sector, Kabbage launched a platform for consumers last year named Karrot. Since then, they have also added a licensing model to their list of solutions, with an Australian partnership signed in March, the first live offering of this unit. Although partnering with Australian firms, the new entity was launched using the Kabbage brand behind it.
Becoming what is Kabbage’s first true white label partnership, the company has announced a new deal with Sage. Under terms of the deal, Sage is launching marketplace lending to SMEs, in an entity called Sage Small Business Loan that will be powered by technology from Kabbage.
Marketing the SME sector around the world, Sage’s products include accounting software, business solutions, and payment products for solutions. The current deal with Kabbage is being operated by Sage Payment Solutions, a division of Sage North America. The division provides merchants with support to receive multiple forms of Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term such as credit and debit cards, loyalty, cards, and electronic checks. With the launch of Sage Small Business Loan, the lending offering is being integrated within the existing payment solutions for its merchant customers.
Overall, the deal follows a trend of marketplace lenders partnering with firms that target the SME market, and can Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term their existing customer base by adding lending services. Earlier in the year, Lending Club joined forces with Alibaba to provide lending to merchants to handle their inventory acquisition needs.
About the opportunity to work with a firm with an existing business customer base, Jason Dell, Head of Product at Kabbage, stated, “Sage is our first partner because we believe their large customer base of small and midsized businesses is well suited to quickly benefit from our fully automated lending solution and obtain the capital they need to grow."
Paul Bridgewater, CEO of Sage Payment Solutions, added, “Sage is focused on providing small businesses with the software, services, and resources they need to grow and thrive. This partnership with Kabbage allows Sage to provide small businesses with much-needed financing."
Expanding its alternative finance lending model beyond the small and medium sized enterprise (SME) sector, Kabbage launched a platform for consumers last year named Karrot. Since then, they have also added a licensing model to their list of solutions, with an Australian partnership signed in March, the first live offering of this unit. Although partnering with Australian firms, the new entity was launched using the Kabbage brand behind it.
Becoming what is Kabbage’s first true white label partnership, the company has announced a new deal with Sage. Under terms of the deal, Sage is launching marketplace lending to SMEs, in an entity called Sage Small Business Loan that will be powered by technology from Kabbage.
Marketing the SME sector around the world, Sage’s products include accounting software, business solutions, and payment products for solutions. The current deal with Kabbage is being operated by Sage Payment Solutions, a division of Sage North America. The division provides merchants with support to receive multiple forms of Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term such as credit and debit cards, loyalty, cards, and electronic checks. With the launch of Sage Small Business Loan, the lending offering is being integrated within the existing payment solutions for its merchant customers.
Overall, the deal follows a trend of marketplace lenders partnering with firms that target the SME market, and can Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term their existing customer base by adding lending services. Earlier in the year, Lending Club joined forces with Alibaba to provide lending to merchants to handle their inventory acquisition needs.
About the opportunity to work with a firm with an existing business customer base, Jason Dell, Head of Product at Kabbage, stated, “Sage is our first partner because we believe their large customer base of small and midsized businesses is well suited to quickly benefit from our fully automated lending solution and obtain the capital they need to grow."
Paul Bridgewater, CEO of Sage Payment Solutions, added, “Sage is focused on providing small businesses with the software, services, and resources they need to grow and thrive. This partnership with Kabbage allows Sage to provide small businesses with much-needed financing."