NEW YORK, US – September 18, 2024 – Checkout.com, a leading global digital payments provider, and Slope, a B2B financing platform for enterprise companies, today announced the beginning of a strategic partnership to boost payment performance for US enterprise merchants.
Slope’s innovative payment platform offers two key payment solutions for B2B customers: “Pay Later” (Net Terms or Installments) and “Pay Now” (ACH and credit card acceptance). By empowering B2B businesses with the option to accept payment via terms, Slope is preserving their customers’ working capital while allowing those businesses to continue best serving their end customers.
Born out of a need to solve the cash flow problem many businesses experienced during COVID-19, Slope provides short-term financing and simple payment options for the B2B sector. Recognizing the need for robust, reliable payment infrastructure, Slope selected Checkout.com as its strategic partner.
Checkout.com’s comprehensive global acquiring and processing capabilities, alongside their commitment to cost optimization, and enhancing payment performance, uniquely positions the business to address these challenges effectively. The partnership is driven by a shared mission of empowering merchants with superior payment solutions that streamline operations and improve cash flow management.
Jim Cho, VP of Revenue Growth at Checkout.com in North America, comments: “We are excited to partner with Slope in empowering merchants with advanced payment solutions. This collaboration reinforces Checkout.com's commitment to providing scalable and efficient payment processing capabilities. By integrating Slope’s innovative financing options with our robust acquiring platform, we empower merchants to optimize cash flow and drive growth in the digital economy.
“Fast-moving enterprise businesses require more than standard, off-the-shelf solutions – they need a payments provider that offers customizable payment options to meet their unique needs and the support of experts to navigate the complexities of the markets they operate in. Slope shares our vision for empowering enterprise businesses to thrive in the digital economy with tailored, enterprise-focused payment solutions that drive improved performance.”
The partnership has already proved successful. Areas of collaboration include optimizing interchange costs through data field enhancements, evaluating payment data to improve performance, and improving reconciliation and cash management with Slope’s warehouse lending facilities. Checkout.com's service model sets it apart by providing a dedicated team that ensures strategic support, with the right expertise and resources to drive long-term success for the merchants they serve.
Alice Deng, CPO and Co-Founder at Slope, adds: “Checkout.com stood out because they put in the effort to build a long-term relationship and foundation to grow with us. We appreciate their investment in the payments innovation community and are excited to serve the largest enterprises together. There’s a human element to their support in a highly technical space. Payments are our life and Checkout.com gets payments.”
Slope recently announced a $65m strategic round in equity and debt from J.P. Morgan, bringing its total funding to $252m. This funding will enable Slope to expand its order-to-cash automation platform for enterprise clients, enhancing its capabilities in AI-driven checkout, risk assessment, financing, and payment reconciliation.
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