Merchants & Lenders Ecosystem
PayEz is actively partnering with merchants and is expected to roll out customer pilots by Q2 2015
PayEz is actively partnering with merchants and is expected to roll out customer pilots by Q2 2015 translating to a USD $1 million in loans per month by end of 2015
Lender Partnership Plan
PayEz seeks partnership from 4-5 key lenders with varying risk appetite to service these loans.
PayEz to support merchants to originate the consumer loans.
PayEz to develop electronic gateways to the lender’s loan management solution for loan origination.
Loan details, customer credit score and assessment details from wide array of third party integration partners.
PayEz to custom-develop the approval algorithm for lender for automated responses.
Lender to electronically approve loan request and offer APR for loan application.
PayEz to present loan options to customer and conclude documentation.
PayEz to execute ACH transactions on behalf of Lender and settle payment.
PayEz to provide collection service integration for delinquent loans.
PayEz and the team have extensive expertise in developing sophisticated custom-gateways for integration with lender's loan management system.
A Win-Win Partnership to create a new market
PayEz seeks partnership with entrepreneurial lenders with a healthy consumer finance portfolio
- To develop the network of merchants and sign up for new payment options.
- To provide the seamless technology infrastructure for executing loan origination, loan approval and loan settlement.
- To provide the custom service delivery for lender’s loan management system integration with PayEz integration systems.
- To execute ACH as per the loan terms and support collection process.
- To provide the loan assessment criteria and offer rates for APR.
- To provide an electronic loan management system integration APIs.
- To provide infrastructure and individual processes for loan approval and settlement.
- To underwrite the consumer loan and adhere to Merchant payment SLAs.
- To drive and own collection process.