Today, in B2B payments, Balance and Mirakl are teaming up to enable seamless payments on B2B marketplaces, Procurant and Uber Freight Team to streamline fresh produce supplier logistics, and Tempo France and Orokii are opening up a corridor fund transfer. Additionally, Jiko is raising $40 million to “transform the future of cash storage.”
Libra and Mirakl Partner to Add B2B Payments to Marketplaces
B2B payments platform Balance and enterprise marketplace Software-as-a-Service platform Mirakl announced a partnership in which Mirakl will use Balance solutions to enable seamless payments in B2B marketplaces. Balance CEO and co-founder Bar Geron said in a press release, “At Balance, our mission is to fully digitize B2B commerce by bringing business payments online, and our partnership with Mirakl will allow us to serve more. B2B marketplaces than ever before.
Procurant and the Uber Freight team to streamline product supplier logistics
Procurant and Uber Freight US have partnered to offer fresh produce suppliers a new way to source and book shipping with competitive rates. The collaboration brings together Procurant’s cloud-based food supply chain software and Uber Freight logistics solutions that provide reliability, flexibility and transparency for shippers and carriers.
Tempo France, Orokii Open Remittance Corridor
Money transfer companies Tempo France and Orokii have opened a money transfer corridor between the United States, 27 countries of the European Union, the Philippines and Ukraine. The companies said in a press release that the partnership “aligns with our shared values of providing blockchain-based cross-border money transfers, reducing customer transaction costs, reducing delivery times and promote financial inclusion”.
Jiko launches “Spendable T-Bill” money storage solution for businesses
Financial network Jiko has announced the public launch of Jiko Money Storage, a solution that allows businesses of all sizes to store money in the form of treasury bills. The company also announced that it had closed a $40 million Series B funding round and said it plans to use the new funding to “transform the future of cash storage.”
Macro challenges further drive business towards full payment automation
With inflation rising in recent years, some finance professionals have had to slow down their digitization initiatives. In an interview with Visa Business Solutions vice president, North American products, Leigh Radtke, a treasurer, a chief financial officer and two CEOs said that many companies, including their own, have refocused their efforts to bring in more trade debts in the 21st century.
Here’s why instant payments are here to stay
New PYMNTS data shows that two-thirds of consumers said they had sent or received at least one instant payment in the past year, a year-over-year increase of 7 percentage points. IngoMoney CEO Drew Edwards told Karen Webster of PYMNTS in a recent interview: “We don’t see growth coming back. [or reversing] across industries,” affirming a short- and long-term bullish belief that the era of instant payments — and their best days — are yet to come.
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