BURLINGTON, Mass., Aug. 22, 2013 (GLOBE NEWSWIRE) -- TimePayment Corp., a wholly owned subsidiary of MicroFinancial Incorporated (Nasdaq:MFI), a financial intermediary specializing in vendor based leasing and finance programs for microticket transactions, today announced advances in technology that significantly accelerate the speed at which lease applicants and their representatives can receive notification of credit decisions.
Leveraging advanced technology and on-line tools, TimePayment is now providing credit decisions for applicants requesting lease amounts of $10,000 or under in less than five seconds, often with speeds that are sub-second.
"This is a tremendous tool for our vendors and brokers to use in discussions with their customers, providing them the ability to process transactions faster. We continue to work hard to accelerate the flow of information to better enable the sales process, and this breakthrough is a key part of that discussion," said Richard F. Latour, President and CEO of MicroFinancial Inc.
For more information about TimePayment's financial services offerings for vendors and brokers, contact TimePayment at 877-868-3800, or eMail: marketing@timepayment.com
About MicroFinancial
MicroFinancial Inc. (Nasdaq:MFI), is a financial intermediary specializing in microticket leasing and financing. MicroFinancial has been operating since 1986, and is headquartered in Burlington, Massachusetts.