[OLTA] OLTA strengthens financing support for member stores through collaboration with Merpay Image
URL: OLTA Press release: November 12, 2024 OLTA strengthens financing support for member stores through collaboration with Merpay ~Supporting the store management of Merpay member stores with flexible financing support~
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(Representative Director and CEO: Takeshi Nagasawa, hereinafter “Merpay”) to provide both “Cloud Factoring” and “INVOY”*1 services. In collaboration with Merpay, we will begin digital transformation (DX) including support for the invoice system and cash flow support to enable Merpay member stores*2 nationwide to run smoother operations. *3 *1 INVOY is a service provided by FINUX Co., Ltd., a wholly owned subsidiary of OLTA. *2 Some “Mercari Shops” member stores are also included. *3 We plan to gradually expand this service to some member stores. Background and purpose of collaboration with Merpay Due to rapid changes in the external environment, such as a decline in the working population, the invoice system introduced in October 2023, and the abolition of promissory notes scheduled for 2026, business operators are facing increased complexity in payment and billing operations and a lack of funds. Faced with new challenges such as procurement difficulties, it is more important than ever for businesses to streamline administrative processes and ensure quick and efficient financing. OLTA’s mission is to “turn all information into trust and create new value,” and since its founding in 2017, OLTA has built a next-generation credit platform, with a particular focus on supporting small businesses with their financing. I did. We are developing our business based on Japan’s first online factoring service, “OLTA Cloud Factoring,” and the cloud invoicing platform, “INVOY.” We support the businesses of small and medium-sized businesses and sole proprietorships nationwide, with financial institutions, mainly local banks, as our partners. We support financing. OLTA is currently aiming to provide credit to small businesses by utilizing not only financial information but also a variety of information such as transaction history. Under the mission of “Creating trust and creating a smooth society,” Merpay has provided unique credit based on behavioral performance rather than attribute information such as age or occupation, and has helped many customers. We have expanded our possibilities. Through this
collaboration, by combining OLTA’s “OLTA Cloud Factoring” and “INVOY” with Merpay’s extensive store network, we will provide support for DX and cash flow improvement for Merpay member stores nationwide. We provide comprehensive support for your management. Overview of collaboration In this partnership between OLTA and Merpay, OLTA will provide both cloud factoring and INVOY services to Merpay, and Merpay will introduce the above services to Mercari Shops and Merpay member stores.
https://prcdn.freetls.fastly.net/release_image/45310/116/45310-116-add64c04c713f5e9a7a5820e59344756-1920×1052.jpg Business partnership diagram between OLTA and Merpay Under this collaboration, we will provide information on the following services to Merpay member stores nationwide. • DX support By utilizing INVOY, which is fully compliant with the invoice system and the Electronic Bookkeeping Act, we will promote efficiency and digitization of various operations related to billing and payments, and improve management transparency. • Funding support Accelerate payment from business partners ( OLTA cloud factoring for Merpay ) Through cloud factoring, we aim to improve cash flow by quickly converting future accounts receivable into cash. In particular, it makes it possible to quickly raise funds when funds are needed, making it easier to secure purchases and working capital, and ensuring stable cash flow. Delay payments to business partners ( INVOY ) This is a service that allows customers to pay by card even if they do not accept card payments.When using a credit card, the date of payment to the customer remains the same, but the actual date of payment (the date of withdrawal from the account) can be delayed for up to 60 days*4.
https://prcdn.freetls.fastly.net/release_image/45310/116/45310-116-2079397e6b135ccf6daabde3689cf96e-1920×960.jpg *4 The number of days that can be postponed varies depending on the payment schedule of the credit card used. About “OLTA Cloud Factoring” Factoring is a method for companies to raise working capital quickly by selling invoices that are waiting for payment from business transactions. OLTA is a pioneer company that started offering “OLTA Cloud Factoring,” Japan’s first online factoring service, in 2017. Achieving “fast, easy, and reasonable” services through screening using AI. It is a service that has the highest number of affiliated banks*5, partnering with more than 40 regional financial institutions, and is used by many small and medium-sized businesses, with the cumulative application amount already exceeding 100 billion yen. *6
https://prcdn.freetls.fastly.net/release_image/45310/116/45310-116-8e7773586af162c93ac5a6964c76a1f2-1024×586.png *5 Among corporations that provide domestic online factoring *6 As of October 2022 About “INVOY” INVOY, which was launched in February 2018, is a service based on billing management functions such as issuing and receiving invoices, and there are no restrictions on the number of invoices, number of members, or number of business partners. It is available for free. “INVOY” is compatible with the latest laws and systems such as the Electronic Bookkeeping Act and the Invoice System, and is used by over 100,000 users. From 2022, we have focused on strengthening payment-related functions such as BtoB card payment services “INVOY card payment”, “INVOY card billing”, and “bill data conversion”. As a result, INVOY has evolved into a one-stop platform for business deposit and withdrawal procedures, including daily billing and payment management, settlement, and cash flow.
Furthermore, in July 2024, we began offering the corporate card “INVOY Card” for sole proprietors and small and medium-sized businesses.
https://prcdn.freetls.fastly.net/release_image/45310/116/45310-116-02747be182a83f927a8ab8615d997139-1920×1080.png OLTA Co., Ltd. Company Profile Representative: Yuki Sawashima, Representative Director, President and CEO Head office location: 4th floor, Ark Mori Building, 1-12-32 Akasaka, Minato-ku, Tokyo
Established: April 2017 Capital: 4,551,890,000 yen (including capital reserves. As of the end of March 2024) Business details: Cloud factoring business, planning, development, and provision of credit models, operation of cloud invoicing platform “INVOY” URL:
https://corp.olta.co.jp/ (Corporate site) Merpay Co., Ltd. Company Profile Representative: Representative Director and CEO Takeshi Nagasawa Head office location: Roppongi Hills Mori Tower, 6-10-1 Roppongi, Minato-ku, Tokyo Rationale: November 2017 Business content: New finance-related business URL: https://jp.merpay.com/