Tabit launches partnership with Lenovo to offer Buy Now, Pay Later to B2B customers in Canada

VANCOUVER, BC, March 14, 2023 /CNW/ - Tabit — Canada's first B2B Buy-Now-Pay-Later (BNPL) solution offered at point-of-sale, announced today the launch of a new partnership with Lenovo. Lenovo will now offer their business customers Tabit's BNPL payment method through their Tabit integration.

In partnership with Tabit, Lenovo will now offer terms of up to 12 months to their business buyers, including a 30-day option at 0% interest. A first of its kind in the B2B space in Canada, Tabit and Lenovo are helping small businesses access immediate and fully automated financing at the point of sale. This will help businesses relieve cash flow pressure while benefiting from attractive payment terms and a seamless customer experience.

"Lenovo is thrilled to partner with Tabit in providing Canada's first B2B Buy-Now-Pay-Later (BNPL) solution offered at point-of-sale", says Carlo Savino, Lenovo Vice President eCommerce - North and Latin America. "With the world's widest portfolio of technology products, Lenovo can provide solutions, software, and services that small businesses can leverage to fulfill their potential - now with flexible payment options that allow businesses to invest in technology while managing their cash flow".

In March of 2022 Tabit conducted a survey in conjunction with Angus Reid Surveys, which found that over half (53%) of Canadian small business owners would consider a financing solution at checkout where payment installments are made over time.

"Through our partnership with Lenovo we are proud to be offering an automated financing option for businesses at the point of sale," says David Gens, CEO of Tabit. "These past few years have been incredibly volatile, whether it be the effects of the COVID-19 pandemic or turbulence in financial markets, and quick access to financing is paramount in helping small businesses navigate these rapidly changing environments."

Leveraging Merchant Growth's data and 12-year history of underwriting small business risk, Tabit eliminates the traditional credit risk faced by suppliers, offering a user-friendly application process that can generate approvals in as little as 30 seconds. The result is a mutually beneficial option for both buyers and sellers of all sizes across multiple industries. Tabit gives small businesses the same advantages as large businesses — helping them improve their cash flow and increase their purchasing power — and makes it easier for sellers to convert sales without taking credit risk.

About Tabit:
Tabit is a B2B Buy-Now-Pay-Later solution powered by Merchant Growth. Tabit was founded in 2021 with the purpose of bringing the consumer buying experience to B2B. Through decades of data and a deep understanding of the borrower and lender landscape, Tabit partners with B2B suppliers to provide small businesses with flexible payment options at point-of-sale and eliminates the risk and expense associated with in-house credit management. Learn more at: https://tabit.ai/ 

About Lenovo:
Lenovo (HKSE:992) (ADR:LNVGY) is a US $70 billion revenue global technology powerhouse, ranked #171 in the Fortune Global 500, employing 75,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world's leading PC player by expanding into new growth areas of infrastructure, mobile, solutions and services. This transformation together with Lenovo's world-changing innovation is building a more inclusive, trustworthy, and sustainable digital society for everyone, everywhere.

About Merchant Growth:
Merchant Growth is Canada's fastest and most friendly financier for small businesses. Their innovative approach to small business financing blends thoughtful customer care, complete transparency, and the latest technology, in order to accelerate the growth of small businesses across Canada. Their mission is to bring Canadian business owners the most convenient and accessible financing experience. Learn more at: https://www.merchantgrowth.com/

SOURCE Tabit

Sean Watkins, VP of Marketing, Merchant Growth, 416.846.6900, [email protected]