Home Finance & Investments Business lender cashes out for merchant services business

Business lender cashes out for merchant services business

Payment solutions company, CutPay Merchant Services, has received funding from the Business Enterprise Fund (BEF) to create a number of new jobs.

The Newcastle upon Tyne-based business offers payment solutions including card machines, EPOS hardware and software solutions at affordable costs to help businesses increase turnover, reduce cost and improve their bottom line.

A loan from BEF, a social enterprise offering funding and support to businesses across Yorkshire and the North East, will create new roles within the company and streamline processes to ensure the business runs more efficiently.

Sunny Miah, CEO of CutPay Merchant Services, said: “After working in the financial services industry for over ten years, I came to truly understand the customer experience with payment solutions companies and saw an opportunity to serve the target market in a more effective way.

“At CutPay Merchant Services we pride ourselves on providing low-cost payment solutions to SME’s in the UK and are very thankful to BEF for believing in our business and supporting us through funding to help us continue our expansion.”

CutPay Merchant Services will receive an additional loan from BEF to support growth plans.

Hilary Watson, investment manager at BEF which has an office in Tees Valley, said: “We are always happy to help businesses which support others with their services, CutPay Merchant Services has a clearly competent team which is passionate about what they do. Coming from a similar background to Sunny, I can understand his desire to help merchants with their payment solutions. We’re looking forward to seeing the business grow!”