Technology company Canon South Africa is proud to announce the signing of a significant trading partner agreement with financial solutions provider Merchant West. This agreement solidifies Merchant West’s position as Canon South Africa’s preferred lease partner, offering flexible financing solutions to Canon’s direct sales channel, with the aim of driving value and enhancing customer satisfaction.

The agreement was officially signed on August 19, 2024, marking a key milestone in Canon South Africa’s strategy to deliver more accessible and convenient financing options to its customers. Through this partnership, Canon customers will now have the option to lease Canon products through monthly instalments, rather than making significant upfront capital investments.

“We are thrilled to partner with Merchant West to bring more flexible leasing options to our customers. This partnership allows us to remove traditional cash flow and financing obstacles, which have often hindered deals in our direct sales channel,” said Canon South Africa MD David Preston. “By offering a leasing model, we’re providing customers with greater financial flexibility and the ability to upgrade their equipment to suit their evolving business needs, ultimately helping them achieve maximum uptime and operational efficiency.”

For Merchant West, this collaboration aligns with its strategy of providing tailored financial solutions to meet the specific needs of businesses. Merchant West MD Keith Watson expressed his enthusiasm for the partnership, stating, “Canon South Africa is a renowned global brand, and we are proud to join forces as their preferred lease partner. Our ability to provide industry-specific financing solutions, rather than traditional bank financing, means that decisions are made faster, and customers can access the equipment they need with minimal downtime.”

This partnership brings multiple benefits to Canon South Africa and its customers. Canon can now leverage external financing, freeing up internal resources and improving cash flow. Customers, in turn, benefit from the convenience of predictable leasing payments, which can be accounted for in their profit and loss statements rather than on their balance sheets. This is a growing trend in Europe, where businesses prefer the flexibility of leasing models and predictable cash flows over outright ownership.

“By offering our customers the ability to lease, we are not only aligning with global trends but also improving the overall customer experience,” said Canon South Africa FD Petrie Kleynscheldt. “This partnership with Merchant West gives us the agility to offer tailored financing that meets our customers' needs without tying up their capital.”

While Canon South Africa is not the only company in the market offering leasing solutions, this partnership with Merchant West provides a distinct advantage over competitors. Merchant West's ability to offer faster financing solutions, with industry risk-based profiles rather than individual customer risk profiles, ensures quicker decision-making and financing for customers.

This stands out as a significant differentiator in the market, where many finance institutions are bound by more rigid regulations.

This new offering from Canon South Africa is expected to solve key challenges for customers, particularly around managing cash flow and having access to equipment with minimal operational disruption.

For more information on this finance option, visit https://merchantwest.co.za or products visit https://www.canon.co.za/