JAKARTA, 15 June 2020 - In accordance with Cashlez’s commitment to become an integrated non-payment payment solution for business owners, Cashlez as a fintech company focused on payment gateway that already has official permission from Bank Indonesia, collaborates with Visa to become the first Visa Business Payment Solution Providers (BPSP) in Indonesia.
Managing cash flow is one of the biggest challenges for business owners. Visa Commercial Credit Cards allow business owners to increase their cash flow by utilizing interest free up to 55 days (varies from each credit card issuer). Given that card acceptance among business to business (B2B) businesses may not yet be common, Visa is working with BPSP such as Cashlez to expand acceptance of B2B business payments. BPSP bridges the gap between buyers and sellers of non-card recipients by allowing buyers to pay with their Visa Commercial Credit Card, and sending funds directly to the seller’s bank account. By this, the seller can receive payments smoothly and faster than the current process. BPSP also simplifies the reconciliation process for buyers and sellers, by sending payment data that has been carried out, to both parties.
Tee Teddy Setiawan, Managing Director of Cashlez said, "It is an honor for us to be trusted by Visa as a partner in introducing the Visa Business Payment Solution Providers service. We are confident that with this service, Cashlez partners can be helped better, especially in terms of cash flow "One of our goals is to make it easy for merchants to receive non-cash payments quickly and safely, therefore we will always provide the best for our merchants according to their needs in improving business,"
Riko Abdurrahman, President Director of PT Visa Worldwide Indonesia said, "We are proud to partner with Cashlez, as one of the leading finteches in Indonesia, to facilitate various companies to be able to use their Visa Commercial Card to pay quickly and efficiently to sellers. This service will help businesses to use Visa Commercial Card to optimize their working capital, streamline existing processes, encourage efficiency, and better manage cash flow. Visa continues to be committed to working with business people in Indonesia and providing digital payment solutions that help drive future growth. "
Until now, Cashlez has supported more than 7,000 businesses from various scales including enterprise, medium and small merchants, in the fields of retail, fashion, food & beverage, tourism, etc., and has been present in major cities in Indonesia, namely Jakarta, Bali, Bandung, Surabaya, Medan, Yogyakarta, Makassar and Malang. Going forward, Cashlez will continue to improve its products and services and expand its network to achieve Cashlez’s vision to become "The Ultimate Payment Company in the Region".