Xero, BNZ downplay impact on Waddle partnership

BNZ's Karna Luke said Waddle's closure won't affect BNZ customers. (Image: Supplied)

Mon, 13 Mar 2023

Both Xero and Bank of New Zealand are playing down the impact on a partnership they had formed of Xero’s decision last week to shutter its Waddle invoice financing business.BNZ announced a partnership with Waddle in September last year “to launch CashFlow Plus, a new invoice financing product for businesses”.BusinessDesk understands that the partnership had taken about a year to develop.The product allowed small businesses to access up to 80% of the value of unpaid invoices quickly, even on the day they were issued, with the l...

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