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Card processing firm JetPay is getting closer to the back end of its corporate clients.
Last year, the company revealed a partnership with Credibly to facilitate financing to its SME users. On Thursday (Sept. 8), JetPay revealed its latest move to help businesses with their cash management via data analytics.
A collaboration with SME data firm Womply has JetPay rolling out its JetPay Insights, a tool that provides analytics of small business financial data. The digital platform helps companies track revenue and uses analytics for other areas of their business, like understanding customer behavior and competitor trends.
“By providing merchants powerful data analysis in an easy-to-understand format, they can make smarter, more informed decisions that affect their businesses,” JetPay said in its announcement.
In a statement, the firm’s CEO, Diane Faro, pointed to the role of data analytics in small business growth.
“JetPay is committed to offering new, innovative solutions to our customers to help them grow and manage their businesses,” the executive said. “Our partnership with Womply allows our merchants the opportunity to gain insight into their customers, gather market intelligence and become more competitive.”
The firm added that smaller businesses don’t always have access to or the resources for such data analytics solutions.
“With access to critical business information, such as new versus repeat customer profiles, local market activity and competitive intelligence, mainstream merchants benefit from the same capabilities as their top-tier counterparts, enabling them to make more informed decisions more quickly,” stated Womply President Cory Capoccia in a separate statement.
JetPay’s moves to provide additional services to the SMEs using its card processing service are similar to other companies in the space, namely PayPal, which has recently added new B2B services for its SME merchants, including small business lending.