BURLINGTON, Mass., Dec. 19, 2013 (GLOBE NEWSWIRE) -- MicroFinancial Incorporated (Nasdaq:MFI), a financial intermediary specializing in vendor based leasing and finance programs through its wholly owned subsidiary TimePayment Corporation today announced the release of its eCommerce enablement plug-in which supports credit decisioning for eCommerce transactions based on individual shopping cart selections.

With over $60 million in online applications processed over the past 12 months, TimePayment's commitment to eCommerce enablement is critical to vendors and brokers who are experiencing growth rates as high as 15% in their online transactions. Nationwide, projections of over $559 billion in wholesale transactions online during 2013 reflect the importance of providing a web enabled financial services solution that can be easily integrated into commercial websites. TimePayments' eCommerce enablement is installed directly into a vendors' shopping cart to expand opportunities to close transactions with commercial and consumer buyers that would benefit from alternative payment options, thus expanding the opportunity to do business with the broadest range of customers possible.

"TimePayment has consistently stayed at the leading edge of technology in our support of vendors and brokers, beginning with our sub-second credit decisions and instantaneous document population which both accelerates the speed and eases the process for all sales representatives. This is just the next step in our expansion of technology to support online transactions," said Richard Latour, CEO and President of MicroFinancial, Inc.

For more information about TimePayment's financial services offerings for vendors, 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.