Pitney Bowes Leverages Lending Power, Proprietary Financial Services to Expand Market Opportunities and Free Cash Flow for Global Ecommerce Businesses

STAMFORD, Conn.--(BUSINESS WIRE)--Jul. 31, 2017-- Pitney Bowes (NYSE:PBI), a global technology company that provides innovative products and solutions to power commerce, today announced a host of new financial solutions for ecommerce companies who use its suite of Complete Shipping APIs. From prepay postage accounts that earn interest, to revolving lines of credit, Pitney Bowes offers tailored flexible financial solutions to help clients manage cash flow and simplify postage payments across multiple accounts and multiple carriers.

“We recognize that shipping is an important part of our clients’ operations, but it’s not the only part,” said Chris Johnson, VP Global Financial Solutions, Pitney Bowes. “Our clients need to manage their working capital needs, have the resources to invest in innovation, and ultimately run a profitable and healthy business. That’s why, in addition to the benefits of a Complete Shipping Solution, Pitney Bowes offers flexible payment options and financial tools that can help our clients manage cash flow and save money over time. This is a unique offering in the ecommerce space and it makes our Complete Shipping APIs more valuable to a larger number of SMBs and enterprises.”

One business leveraging flexible payment solutions from Pitney Bowes is Quirk Auto Parts. A division of Quirk Cars, Quirk Auto Parts offers one of the largest selections of original equipment manufacturer (OEM) and aftermarket vehicle parts and accessories in the U.S. through its extensive online store, QuirkParts.com. Quirk leverages Pitney Bowes Complete Shipping APIs to create accurate USPS® shipping labels, benefit from USPS® commercial discounts, track packages, and help manage shipments and inventory for its online store.

Quirk also leverages a Pitney Bowes Prepay Shipping Solution – an interest-bearing reserve account that allows Quirk to set parameters for postage payments and deposits based on cash flow needs. Quirk funds its account through an Automated Clearing House (ACH), but Pitney Bowes also accepts Federal and SWIFT wire transfers. The Prepay Shipping Solution also provides Quirk with online accounting and budgeting tools to help optimize postage payments, and the interest earned on the account can be further applied to shipping costs.

“We have always celebrated an entrepreneurial spirit at Quirk Auto Parts. We’re always looking for creative ways to grow our business by adding new value for our customers, and you can’t do that without controlling cash flow. Pitney Bowes understood that fact and worked with us to create a tailored payment solution that allows us to manage fluctuating volumes in our auto parts shipments without having to unnecessarily tie up cash,” said Daniel Quirk, Owner and CEO, Quirk Auto. “The Pitney Bowes technology solution has improved our shipping operation and the financial solution has helped us streamline billing and manage cash flow.”

Pitney Bowes Prepay Shipping Accounts are a great tool for businesses like Quirk Auto who want to hold onto funds longer and manage payments in concert with fluctuating shipping volumes. Another financial tool uniquely offered by Pitney Bowes is Purchase Power – a revolving line of credit that allows clients to match postage payments to cash flow cycles. With Purchase Power, Pitney Bowes manages payments to the USPS® and other carriers on behalf of their clients and then sends a consolidated bill to the client. Purchase Power is another way Pitney Bowes is making USPS® services more accessible to ecommerce businesses.

“When we work with a client to integrate our Shipping APIs, we don’t do it in a vacuum. It is not enough to simply get the technology right. You also need to back it up with the service, support and business model that fits their specific needs and that they can depend on long-term,” said Johnson. “We’re so pleased to be able to help Quirk Auto Parts and other businesses simplify their shipping operations and protect more of their working capital, so they can continue to invest in the core of their businesses.”

Pitney Bowes launched Complete Shipping APIs in 2016 and quickly set its solution apart by offering flexible financing options and a modern RESTful web services architecture that makes its solution easy to integrate, test and upgrade. Over the past year, these benefits, as well as a commitment to client-led innovation and an expanding set of product features, has led more ecommerce platform providers, as well as enterprise and SMB shippers to adopt the solution.

Pitney Bowes Complete Shipping APIs are available as part of the Pitney Bowes Commerce Cloud, a commerce enabler, providing access to solutions, analytics and APIs across the full commerce continuum with speed and agility to help clients identify customers, locate opportunities, enable communications, power shipping from anywhere to everywhere, and manage payments.

About Pitney Bowes

Pitney Bowes (NYSE:PBI) is a global technology company powering billions of transactions – physical and digital – in the connected and borderless world of commerce. Clients around the world, including 90 percent of the Fortune 500, rely on products, solutions, services and data from Pitney Bowes in the areas of customer information management, location intelligence, customer engagement, shipping, mailing, and global ecommerce. And with the innovative Pitney Bowes Commerce Cloud, clients can access the broad range of Pitney Bowes solutions, analytics, and APIs to drive commerce. For additional information, visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.

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Source: Pitney Bowes

Pitney Bowes
Brett Cody, 203-359 6079
Brett.Cody@pb.com