WorldPay Expands To Alternative Finance Sector – What About Bitcoin?As part of the agreement with Liberis, WorldPay can offer Britain’s small[er] businesses a new payment option. This initiative will be called Worldpay Business Finance, and offers unsecured cash advance based on future credit and debit card sales of the small[er] businesses in question.
As a customer, your payment will be processed based on a pre-agreed percentage of the business’ card transactions. Diversifying the plethora of available payment methods is a big step for WorldPay, and could be a sign of things to come. After all, the company only went live on the London Stock Exchange last month.
The choice in the form of Liberis is quite an interesting one, albeit the company is a specialist in the field of cash advance loans. WorldPay is showing a clear desire not just to focus on payment processing, but also establish their presence in the loans market. Whether or not this will be the right move, remains to be seen.
One thing to take into account is Liberis’ solid track record since 2007. By advancing over £100m to small businesses who were unable to get any financial support from banks, Liberis has become one of the major players in the UK loans market. Furthermore, small businesses in the UK will keep facing some uphill battles in the foreseeable future.
There is no better time than now for WorldPay to diversify their offerings, and venturing into a market that will see a fair share of success in the years to come seems to be the right move. According to research by the UK Department of Business, 50% of first-time loan applications by small business owners is rejected. Such a staggering amount opens up a lot of opportunities for both WorldPay and Liberis.
http://bitcoinist.net/worldpay-expands-alternative-finance-sector-bitcoin/
