Cash flow, the amount of money moving into and out of a business at a given time, is essential to any successful business, regardless of its size. Lack of money coming in is a key cause of negative cash flow, but there are solutions to combat it. For example, Marketlend offers a Buy Now Pay Later solution designed for businesses called UnLock. With UnLock, businesses can choose to extend their payment terms by up to 90 days, thereby helping to smooth out cash flow. UnLock can be used to pay for invoices and make purchases online and instore.

Here’s how the UnLock Buy Now Pay Later for Business solution can help businesses manage their cash flow.

How the UnLock Buy Now Pay Later for Business solution works

With UnLock, you do not need to have money on hand to make business-related purchases. When you buy something through UnLock (or accept an invoice from a supplier and upload it to the UnLock Customer Portal), we pay your suppliers for UnLock Mastercard® purchases on the same day. Invoices are paid on their due date, or earlier, per your direction.

Then, we combine all of your UnLock Mastercard transactions for the month into one direct debit. You choose your BNPL payment option: 30 or 60 days from the end of the month the transaction was made. For supplier invoices, you also choose when to pay Marketlend: 30, 60 or 90 days from when the invoice was paid via UnLock.

UnLock’s Buy Now Pay Later solution removes the hassle of using trade credit accounts (financing that lets consumers buy goods or services with a pay later option) with suppliers. So, while our process is similar to a trade credit account, you get the benefit of choosing your own payment terms.

You can pay invoices through the UnLock Customer Portal or make instore or online purchases with the UnLock Mastercard digital wallet.

Additional benefits of UnLock Buy Now Pay Later for Business include:

  • Low effort required to help manage and improve cash flow.
  • Acts like a trade credit account that offers extended payment terms but you do not have to apply for accounts with multiple suppliers.
  • You gain the ability to extend payment terms beyond those provided by suppliers.
  • You can extend payment terms with suppliers who don’t offer credit terms.
  • You save time and admins save effort when processing and managing expenses with a BNPL solution.

If you have an active ABN or ACN, have been in business and registered for GST for at least 12 months and have no judgment defaults, you’re eligible to register for UnLock Buy Now Pay Later for Business.

How UnLock Buy Now Pay Later for Business helps enhance cash flow

The Unlock BNPL product makes buying and selling easier for everyone – buyers gain flexibility and extended payment terms while suppliers are paid on time.

Here’s a breakdown of the UnLock Buy Now Pay Later for Business process

1

Sign up for UnLock in minutes.

2

Receive a personalised UnLock account buying limit (similar to a credit limit).

3

Supplier invoices are uploaded to the UnLock Portal. Use UnLock Mastercard to purchase goods anywhere that accepts Mastercard.

4

Receive your supplies when needed.

5

Select a payment option:
Pay supplier invoice 30, 60 or 90 days from the due date when paid through the UnLock Portal OR 30 or 60 days from the end of the month if paid on the UnLock Mastercard®.

6

Your repayments to UnLock are automatically directly debited from the SME’s selected bank account.

How UnLock Mastercard works

  • Make business-related purchases wherever Mastercard is accepted.
  • We bundle your UnLock Mastercard transactions and you repay us 30 or 60 days, based on your payment plan, from the end of the month (EOM) that the transaction took place.

What SMEs should know about the Buy Now Pay Later option

Buy Now Pay Later for Business can be a helpful financing solution for when your small business needs funds to make business-related purchases and extra time to make the repayments. The UnLock product makes the pay later services process even more convenient by allowing you to choose your repayment terms and making it so you only have to make a single monthly payment.

As convenient as a Buy Now Pay Later service can be, it’s important to remember it still works similar to a business loan. The funds used to purchase goods or services for your small business will eventually have to be repaid. In the event of late payment, you’ll be charged an additional late fee, as well as interest, just as if you missed a bank loan payment. You’ll still be borrowing money if you do work with a buy now pay later provider.

That said, Buy Now Pay Later is still a viable alternative solution for your business if you know you’ll have the cash on hand when it comes times to make your repayment so you can avoid a late fee. With UnLock, you’ll have peace of mind knowing you’ll have up to 90 days to make your BNPL payment.

The more positive your business’ cash flow is, the more financially stable it will be. Ideally, your business will generate enough revenue to deliver positive cash flow on a consistent basis. If you ever find yourself in a situation where that’s not the case, UnLock’s Buy Now Pay Later for Business solution is here to help. Forget about “waiting for funds to become available” to make your next business move. UnLock can help you make it now.

UnLock. We pay your suppliers on their terms; you pay on yours.

Enquire now to learn more about how UnLock can help you manage your SME’s cash flow with Buy Now Pay Later for Business.

What SMEs should know about the Buy Now Pay Later option

Buy Now Pay Later for Business can be a helpful financing solution for when your small business needs funds to make business-related purchases and extra time to make the repayments. The UnLock product makes the pay later services process even more convenient by allowing you to choose your repayment terms and making it so you only have to make a single monthly payment.

As convenient as a Buy Now Pay Later service can be, it’s important to remember it still works similar to a business loan. The funds used to purchase goods or services for your small business will eventually have to be repaid. In the event of late payment, you’ll be charged an additional late fee, as well as interest, just as if you missed a bank loan payment. You’ll still be borrowing money if you do work with a buy now pay later provider.

That said, Buy Now Pay Later is still a viable alternative solution for your business if you know you’ll have the cash on hand when it comes times to make your repayment so you can avoid a late fee. With UnLock, you’ll have peace of mind knowing you’ll have up to 90 days to make your BNPL payment.

The more positive your business’ cash flow is, the more financially stable it will be. Ideally, your business will generate enough revenue to deliver positive cash flow on a consistent basis. If you ever find yourself in a situation where that’s not the case, UnLock’s Buy Now Pay Later for Business solution is here to help. Forget about “waiting for funds to become available” to make your next business move. UnLock can help you make it now.

UnLock. We pay your suppliers on their terms; you pay on yours.

Enquire now to learn more about how UnLock can help you manage your SME’s cash flow with Buy Now Pay Later for Business.