Please Note: This feature is currently in limited release and requires customer instances to be running on The Latest Version of Treez. You can submit a request for this feature to [email protected]
Treez is proud to announce its partnership with Lendica, a finance company dedicated to assisting small businesses, including dispensaries, in accessing smarter lending solutions. The "Pay Later with Lendica" feature within Treez aims to empower our retailers with seamless access to capital, helping them address their financial needs efficiently.
User Experience
Retailers can seamlessly access Lendica's financial services within Treez, reducing the barrier to accessing capital.
The iTab in the Inventory > Purchasing section provides an intuitive and user-friendly interface for submitting a first-time application and once approved, managing credit, paying invoices, and accessing funding options.
Lendica's integration with the External Invoice API ensures Lendica has real-time access to invoice details, enhancing accuracy and convenience when using funds from Lendica to pay invoices.
Key Features
"Pay Later with Lendica" Integration
Purpose: The primary objective of this integration is to enable Treez retailers to access Lendica's financial services directly within the Treez platform.
Location: The integration will be accessible through the iTab, denoted by a red dot, located specifically in the Inventory > Purchasing section on the right side of the page, above the Treez Support ‘Need Help?' widget.
Three Main Tabs within iTab
Wallet: Retailers can manage their Lendica credit line and balances.
Pay Later: Retailers can apply for credit if they haven't been approved previously. Lendica will assess eligibility based on the retailer's average transactional volume on Treez.
Fund Now: Retailers can access Lendica's funding options for various business needs, including operational expenses and capital expenditures (e.g., expansion costs, hardware purchases, supply-chain buildouts).
Seamless Invoice Payment
Invoice Access: Retailers can access the "Pay Later" option next to individual invoices on the Purchasing Invoice overview page. Clicking this option will automatically open the iTab on the right.
New Customers: First-time customers can complete a simple application process within the iTab to apply for Lendica's services. Retailers can apply for credit if they haven't been approved previously. Lendica will assess eligibility based on the retailer's average transactional volume on Treez. Approval is instant or within 4 hours (per Lendica).
Existing Customers: Retailers who are approved by Lendica can view and manage invoice details directly within the iTab in Treez. The invoice details are populated via the Treez External Invoice API.
External Invoice API Integration
API Functionality: Lendica requires the Treez External Invoice API to retrieve details such as distributor information, payment terms, and outstanding balances. If the retailer has not been approved with Lendica but selects the PayLater, Lendica will retrieve light invoice details for the invoice selected and display the new customer application. Once approved, the retailer is granting access for Lendica to access all invoices via the Invoice API.
Credentials Passing: Treez will pass necessary credentials to Lendica as part of the iBranch, including partner_name (treez), partner_company_uuid (unique store ID in Treez), company name (Treez dispensary short name - [shortname].treez.io), and partner_token (unique Treez API key).
The "Pay Later with Lendica" integration in Treez represents a significant advancement in providing financial solutions to our dispensary retailers. This feature enhances the financial well-being of our users by simplifying access to capital, managing invoices, and supporting business growth.