New arrivals boost FWD member ranks
Tradebridge and Worldpay discuss becoming supplier members and why they’re offering services wholesalers can’t do without
Salman Mohammed, Associate Director, Tradebridge (pictured top left)
Kaya Halil, Corporate Sales Director, Worldpay (pictured top right)
You have to make an elevator pitch about your company. How would you describe it?
SM: We help entrepreneurially minded businesses be ready to seize opportunities –whenever they arise – by unlocking an additional source of cash from their business.
KH: Worldpay is the largest payment processor in the world, working with businesses of all sizes to offer a one-stop shop for everything card payments. Our aim is to ensure our customers have the best tech functionality, transparent pricing, security and service from their payment processor.
What are the latest goings-on within your business?
SM: We are one of the fastest-growing international non-bank lenders of working capital, with offices in France, Singapore, China and Australia. Over the past few months our exposure to UK wholesalers has increased five-fold, with our latest new client a well-known name in cash and carry and food delivery.
KH: The hot topic at the moment is very much around the increase of Visa and Mastercard interchange rates affecting B2B card types. Many businesses and FWD members have seen a sharp increase in their merchant bills and as a result have been paying more than they need to process card payments.
Another big change in the industry is affecting onlinepayment processing with the extra layer of security 3DS2, which has resulted in businesses losing customers as they don’t have the functionality to remain compliant, therefore, seeing an increase in cart abandonments.
What can you offer FWD’s membership and the wholesale sector?
SM: We unlock the additional funding you need to seize growth opportunities and mitigate risks. We provide financing facilities for all purchases; these are unsecured and discretionary, sitting gently alongside your existing working capital arrangements.
KH: Our aim is to provide a consultative approach for all FWD members that take card payments. We would like the opportunity to offer free financial health checks to all members, while having particular focus around what they currently have in place and whether that offers the best value and efficiency in processing payments.
Whether a member takes card payments face to face, over the phone or through their website, we have the expertise and experience to ensure they have the right solutions to meet their ever-changing needs. As part of our relationship with FWD, members will receive a dedicated account manager to ensure they have a direct point of contact to support their business and answer any questions.
Are there any innovations in the pipeline you’d like to shout about?
SM: Financing needn’t be complicated and expensive to set up. Our new tech-enabled approach lets you quickly start accessing this additional source of financing quickly with no fuss. You are up and running in days, with no complex legal documents and you only pay for what you use.
KH: Worldpay has recently introduced new 4G-enabled terminals that give businesses a robust point-of-sale facility. This ensures no downtime for businesses that are reliant on wifi connectivity. For larger businesses, our Corporate Gateway provides a future-proof, online payment portal that has a wide range of integrations offering enhanced fraud prevention and a seamless end-to-end customer journey.FWD new members Tradebridge Worldpay