has revolutionised business funding in South Africa by partnering with Retail Capital, a division of TymeBank, to provide instant working capital of up to R1-million. Leveraging historical ATM transaction data, this initiative has empowered businesses with accessible financing tailored to their operational needs.Internationally,– a joint venture incubated by Paycorp and Retail Capital – has introduced its funding platform in the UK.
Merchants receive a customised and secure offer URL, following a simple three-step process to receive same-day funds. Fees are transparent, determined upfront as a percentage of daily sales and deducted from daily settlements over flexible payment terms. Recap boasts 15 partners across 12 industries in four markets.
“We’re delighted to partner with payment platforms, enhancing their merchant offering and increasing loyalty with turnover-based business funding,” says Jonathan Field, Recap’s MD. “Eligible customers can get truly pre-approved, frictionless funding at the click of a button, eliminating rejection anxiety and empowering businesses to capitalise on growth opportunities amid challenging economic circumstances.