What happened: British Payment Assist has launched a new lending product that offers merchant cash advances, business loans, invoice finance, and business credit cards to garages, dealerships, and car workshops across the UK. The new offering joins the existing buy now, pay later and retail finance solutions that Payment Assist already offers (Finextra).
My comment: Payment Assist is not a non-financial brand, so technically it is not Embedded Finance. But a company with a strong vertical focus (in this case, automotive) is often as close as it can get to Embedded Finance. Payment Assist partnered with the orchestration provider Groov. Groov is connected to lending providers such as YouLend or iwoca, and adds an ‘advisory layer’ that helps businesses browse different offers and select the one that best fits their needs.
