Lender Improves Customer Experience and Increases Efficiency with PaySimple

DENVER, CO – JULY 21, 2008 – PaySimple, the leading provider of SaaS (Software as a Service) on-demand electronic payment solutions for small businesses, is the driving engine that enables Smart Capital Choice to help its customers realize new heights of success. The company, based in Bethesda, Maryland, specializes in asset-based lending to merchants and small businesses across the nation. With the PaySimple Solution’s ACH Disbursement feature, Smart Capital Choice can effortlessly pay out funds, while its ACH recurring billing feature enables SCC to collect payments from its customers automatically.

Smart Capital Choice (SCC) is dedicated to helping its clients secure the funding needed to grow by providing working capital along with a five step ROI methodology and invaluable business counseling. In return, its clients sell SCC a fixed amount of the businesses’ future credit card sales. Once SCC funds a company, it begins collecting a fixed percentage of the customer’s daily credit card transactions, via the customer’s credit-card terminal, until the funding obligation is repaid. SCC’s aim is to make the entire process as seamless for customers as possible but the process calls for funds to continuously be transferred between SCC and its customers.

The company realized it needed to find a back-end solution that would be easy to implement and enable the automatic transfer of funds and fee assessments to and from its clientele on a monthly basis. After careful research, SCC chose the PaySimple Solution as its preferred technology platform. By implementing the PaySimple Recurring Payment module, SCC easily creates schedules for the system to routinely charge customers via an ACH transaction for a pre-determined amount on a pre-determined schedule. It also includes the flexibility to automatically process a secondary payment method should the primary method fail. SCC also has the option to create customizable emails for customer notifications.

“We are committed to helping our clients fulfill their business objectives,” said Landon Johnson, Smart Capital Choice’s President. “PaySimple speeds up and simplifies the process for transferring funds and assessing fees, and allows us to provide our customers with a menu of options. This creates a straightforward, hassle-free process for them.”

In addition to speeding up the transaction process, SCC found that using PaySimple saved the company $300 a month, compared to what they were paying in wire fees. As a result, SCC will add PaySimple’s credit card processing module to its platform as it continues to expand its reach in the merchant financing market.

“Smart Capital Choice champions the small business owner, and its selection of PaySimple emphasizes the company’s commitment to providing the best service possible,” said Eric Remer, Chief Executive Officer of PaySimple, Inc. “Our solutions are built with small businesses in mind, and we are designed to grow with our customers as they expand their scope of business.”