Pivotal Payments is set to offer next day funding for its Canadian clients and extend batch cut-off times by several hours to enhance operational efficiency for SMEs by providing quicker access to funds.
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Next day funding will allow merchants to receive their daily deposits of credit and debit card sales one or two days earlier than the standard funding cycle without limiting bank relationships.
The service, which has already been implemented for certain banking relationships, will be accessible for businesses with accounts at any domestic Canadian financial institution in the second quarter of 2015.
Philip Fayer, president and CEO of Pivotal Payments, said: "Pivotal understands the challenges faced by many small and medium-sized enterprises across the country, and we’re excited to offer more solutions to help them better manage cash flow.
"We’re dedicated to providing the highest quality service and have spent significant resources on upgrading our processes and platforms in order to power our clients’ long-term success."
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