Visa invests in Behalf as part of a B2B push
Visa has become an investor in Behalf, which provides a working capital option for large and small merchants at the point of sale when completing a purchase to obtain goods or services for their businesses.
Based in New York City and Tel Aviv, Behalf offers financing through its merchant network for B2B sales. The company promotes the concept that businesses that accept Behalf payments would be paid immediately at a transaction rate lower than credit cards.
Companies choosing to pay through Behalf instead of cash, check or credit card are able to adjust their own payment schedule for each purchase.
"Small businesses are the backbone of the global economy, and Visa is committed to enabling new payment experiences for these important customers," Shahar Friedman, acting general manager for Visa in Israel, said in a Wednesday press release.
"This partnership is a result of close collaboration between Visa Innovation Studio Tel Aviv and the dynamic Israeli startup ecosystem to bring the power of the VisaNet global network to promising young companies such as Behalf," Friedman added.
Visa did not disclose the dollar amount of its investment or the extent of a partnership.
Visa has continued to establish a more complete B2B offering, working through its Visa B2B Connect blockchain payments service to help companies establish application interfaces and platforms to more efficiently handle business transactions.