Intergiro, a Swedish business account provider and payment processor, has announced that it will offer free banking services to merchants who open a merchant business account with the company. This move comes in response to rising inflation rates and uncertain market conditions, which places pressure on businesses to reduce costs. By providing free business banking services, Intergiro will help merchants save money and better navigate these challenging economic times.
“We understand that running a business can be tough, especially in times of economic instability," said Johan Ryer, CCO of Intergiro. “This move represents our commitment to helping businesses succeed in these turbulent times of high prices and economic volatility. That's why we're proud to offer free business banking services to help merchants reduce the rising costs of doing business."
Customers can access their free banking services alongside their merchant services dashboard from a unified customer portal, with online sales proceeds landing directly into their Intergiro account.
In addition to free banking services, merchants who open a merchant business account with Intergiro will soon benefit from same-day settlements (T+0), ensuring quick access to funds and reducing the need for businesses to carry costly working capital. Delays in settlement can have a negative impact on working capital, which can jeopardise a business's ability to continue operating and require them to seek alternative sources of liquidity, which are becoming increasingly expensive due to rising interest rates.
"As we move into 2023, many businesses are finding it difficult to maintain a strong cash flow position. With supply chain issues, staff shortages and rising prices all putting pressure on operating costs, it's more important than ever to carefully manage company finances,” continued Ryer. ”That’s why tackling delays between customer payments and the settlement of funds in these accounts should be an industry-wide priority."
"Our rapid settlements give merchants the ability to access their funds faster, which can be a huge advantage in today's fast-paced business environment," emphasises Nick Root, Intergiro’s CEO.
Intergiro's free business banking services include a range of features such as online banking, mobile banking, physical and virtual cards, merchant accounts, and integrated payments solutions. This ample suite of services helps businesses save time and increase efficiency by enabling management of both business and merchant accounts in one place.