SA: Payabill launches online payment solution for SMEs

Payabill, a South Africa-based fintech lender, has developed a product where it takes the risk of settling the bills of international suppliers directly for SME’s.Company officials report that it is costly for SME’s to assess their eligibility for finance, so they have been neglected by traditional lenders. Payabill comes with a digital offering, where clients choose how often they wish to make payment and over what period.

Payabill has partnered with the Sasfin Forex division to develop the offering, which allows a business to settle with an international supplier and to negotiate suitable terms of up to 90 days, also accepting pro forma invoices for immediate settlement.