ATLANTA--(BUSINESS WIRE)--Worldpay (www.worldpay.com), a leading global provider of payment services, announced today its relationship with OnDeck (www.ondeck.com), a technology-powered Main Street lender. Worldpay will leverage OnDeck’s platform and proprietary technology to allow its small and mid-sized merchants access to OnDeck financing.
Worldpay customers rely on the company’s credit card processing services including face-to-face, virtual and mobile payment systems. The relationship will allow Worldpay’s small business customers to obtain working capital from OnDeck for business related growth needs, such as equipment or inventory purchases and hiring. OnDeck’s platform and proprietary credit score, the OnDeck Score™, enables easy application with fast approval and funding. To date, the company has loaned over $1 billion to small businesses in all 50 states across approximately 700 industries.
“This relationship supports both Worldpay’s and OnDeck’s shared commitment to serving small businesses nationwide,” said Jerome Hershey, vice president of business development, OnDeck. “Worldpay’s payment solutions and OnDeck’s financing products are a compelling, and complementary offering.”
“Worldpay is committed to providing services to our small business customers that help them grow their businesses,” said Patti Newcomer, chief marketing officer of Worldpay. “By teaming with OnDeck, we can help connect our customers with the working capital they need to be successful.”
As a division of The Worldpay Group, Worldpay US provides leading payments processing services across multiple industry verticals. Utilizing traditional point-of-sale technologies to mobile devices, customers can accept payments anytime, anywhere. From transaction capturing and processing to merchant acquiring, Worldpay provides insightful expertise, seamless delivery and valued relationships. Visit Worldpay.com.
Launched in 2007, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the OnDeck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed more than $1 billion in capital to tens of thousands of businesses across 700 different industries. The company was recently named #11 on Forbes' 100 Most Promising Companies in America list and was listed on the Inc. 500/5000 for a second year in a row. OnDeck also has earned an A+ rating with the Better Business Bureau. OnDeck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures, Institutional Venture Partners and Tiger Global.