Aspire, a finance platform for businesses, has integrated with Stripe to allow users to accept credit card payments for invoices and payment links, aiming to improve cash flow and shorten payment cycles.

With the new integration, Aspire users can now accept payments through credit and debit cards, as well as digital wallets including Apple Pay, Google Pay, GrabPay, and WeChat Pay.

Aspire said the collaboration provides businesses with greater flexibility in how they receive payments and enables faster access to funds, reducing settlement times from the standard seven days to as little as three.

The integration also makes it easier for new businesses to start accepting card payments without the need for a website or complex infrastructure.

Aspire noted that with the rise in virtual card adoption, 64% of businesses now expect to pay for purchases online.

This is especially relevant in the B2B sector, where payment cycles tend to be longer.

The company also cited research showing that businesses unable to accept card payments face an average revenue loss of 4.6%, highlighting the need for more diverse payment options.

“At Aspire, we are constantly looking for new ways to help businesses grow faster and operate more efficiently. This partnership with Stripe aims to address two critical pain points – speed and flexibility.

Together, we are removing the friction of money, empowering businesses to focus on what they do best: growing and scaling their operations.”

said Andrea Baronchelli, CEO and founder of Aspire.

“Small and medium businesses make up over 97% of all businesses in APAC and are the lifeblood of any country’s economy. Digital financial services unlock growth for SMBs. In fact, some reports show that 70% of APAC SMBs experienced increased revenues after adopting digital payments.

Working together, Aspire and Stripe helps ensure that SMBs fully benefit from AI-powered financial solutions that accelerate their cashflow while protecting them and their customers from fraud, to succeed in today’s competitive landscape,”

said Paul Harapin, Stripe’s Chief Revenue Officer in Asia Pacific.

Featured image: Edited by Fintech News Singapore, based on image by Trend2023 via Freepik