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NewsBriefs

stated they are "coming together to Kabbage said that over two-thirds of its 200,000-plus customers rely on invoicing
allow their respective members to to get paid, and often wait as long as 90 days for those payments to arrive.
share the benefits of both networks."
Leveraging its lending platform technology, Kabbage claims, it can slash that lag
As part of their alliance, Wnet and time to just a day. With Kabbage Payments, a customer creates a unique URL for
EWPN will publish dedicated land- their business and sends payment requests through texts, emails or the web.
ing pages where members can access
each organization's extensive intel- The custom pay link eliminates the need to manually create new accounts, open
ligence, networking events and pro- new payment orders, and duplicate work for recurring invoices, the company
gramming. stated.

EWPN, launched in 2015 to champi-
on diversity and inclusion in fintech
and payments, serves over 1,000 in-
dividual members and 11 corporate
members. Wnet, launched in 2005,
serves over 3,000 women each year
in the United States through events,
information and knowledge sharing,
and networking opportunities.

During the 2019 Wnet Leadership
Summit, held in Atlanta Nov. 6 and
7, Wnet Executive Director Lisl Dut-
terer said, "By working together,
Wnet and EWPN are creating global
change and the opportunity for more
women to lead in the payments in-
dustry. Wnet has been extending our
member benefits to women around
the globe, and we are excited for the
opportunity to work with EWPN's
leadership to accomplish that goal."

Online lender Kabbage
makes payments play

Kabbage, the online lender that has
been building a business in small-
business financing, now wants a slice
of the payment processing pie, and
in particular business-to-business
transactions. The company's new
Kabbage Payments aims to make get-
ting invoices paid faster "as simple
as sending a text message." It's being
offered, at least initially, to Kabbage
borrowers.

"Since 2011, we've helped hundreds
of thousands of small businesses ac-
cess over $8 billion in funding," said
Kabbage CEO Rob Frohwein. "We
know first-hand a primary need is
to cover cash-flow gaps while wait-
ing to be paid. Kabbage Payments not
only expands our suite of products,
but the very definition of our com-
pany."

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