Today in B2B payments: 4 partnerships announced

Today in B2B payments, recently announced partnerships aim to provide solutions for electronic invoicing, payment request services, capital advance, B2B e-commerce payments and payment technology for managing Accounts Receivable (AR). Additionally, Billtrust says it was sold in a $1.7 billion deal.

Partner Hub, Answer Pay Team on e-Invoicing, Request-to-Pay Services

Payments-as-a-service platform Answer Pay and online billing technology and service provider Partner Hub have joined forces to make it easier for banks to offer payment request and payment services to their customers. electronic invoicing. Partner Hub co-founder Katalin Kauzli said in an Answer Pay blog post, “We look forward to working with Answer Pay to help banks across the rest of Europe take full advantage of this powerful combination of [eInvoicing] and [request-to-pay].”

PingPong, uncapped partner on capital advance for European merchants

PingPong Payments and Uncapped have partnered to enable PingPong customers in Europe to obtain a capital advance from Uncapped. PingPong Europe General Manager, Chunhe Zhang, said in a press release, “With Uncapped, PingPong is providing a meaningful offer for PingPong customers to receive quick funding, which would be the key to their business success in the world of e-commerce”.

GreenDropShip partners with Stripe for B2B e-commerce payments

Ahead of its launch later this year, GreenDropShip, a B2B e-commerce company providing natural groceries, personal care items and home goods, has partnered with Stripe to find new ways to accept secure payments. GreenDropShip co-founder and CEO Allen Kaplun said in a press release, “Now that we also have a partnership with Stripe, we are proud to be able to make transactions between vendors and merchants on our future marketplace. market as safe and convenient as possible”.

Payscout, Collection Works Partner on Payment Technology for AR Management

Global payment technology company Payscout has become a preferred payment partner of Collection Works Software Solutions, a technology and services provider to the collections, debits and credits management market. Through this enhanced partnership, Collection Works users will benefit from direct integration with Payscout’s Paywire platform, which is a customer account management (ARM)-centric gateway.

B2B payments firm Billtrust sold in $1.7 billion deal

B2B payments company Billtrust has been sold to investment organization EQT in an all-cash transaction that values ​​Billtrust’s equity at around $1.7 billion. Billtrust Founder and CEO Flint Lane said in a press release, “We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with more resources and flexibility to strengthen our leadership position. ”

Oracle NetSuite Launches AP Automation Tool

Oracle NetSuite has launched NetSuite AP Automation, a product designed to help businesses manage time-consuming Accounts Payable processes. The company said in a press release, “The only solution that integrates banking services into a cloud-based enterprise resource planning (ERP) system, NetSuite AP Automation helps organizations improve profitability by making it easier and faster to processing invoices and paying suppliers from NetSuite. .”

New SWIFT tool provides overview of post-trade settlement journey

SWIFT is piloting a new feature called SWIFT Securities View which tackles one of the biggest challenges in the securities industry – lack of visibility into post-trade processing – while helping to prevent settlement failures. SWIFT’s Head of Securities Strategy, Vikesh Patel, said in a press release: “Our early pilot results show this potential and further reinforce our mission to make transactions instant and frictionless, across all industries.”

How to Eliminate “PDF Fatigue” When Processing B2B Payments

No matter how innovative companies and their Accounts Payable (AP) teams are, their vendors still send them PDFs. Routable CEO Omri Mor told Karen Webster of PYMNTS that Optical Character Recognition (OCR) is an invoice processing enhancement that reduces bulk payment errors and speeds up invoice processing times.

Routable launches optical character recognition for invoice processing

Business payment platform Routable has added optical character recognition (OCR), which will allow the platform to automatically scan invoices and create payables. Routable said in a press release that it will allow companies to process “hundreds” of invoices at once and reduce invoice coding time by up to three minutes per invoice.

Capital on Tap Adds Virtual Cards to Small Business Platform

Global FinTech Capital on Tap has added virtual cards to the services it already provides through its small business credit card and expense management platform. Capital on Tap co-founder and CEO David Luck said in a press release, “Having immediate access to funds is critical to succeeding in this challenging business climate that often requires quick decisions and multiple strategic pivots.” .

Pinwheel Launches New Consumer Income Data Product for Banks and FinTechs

Earnings and employment data provider Pinwheel has launched a new product that provides up-to-date data on consumer earnings, including historical, current and projected data. With the new Pinwheel Earnings Stream product, banks and FinTechs can create financial products tailored to a consumer’s income and employment status.

41% of buyers saw late fees on supplier payments last year

Payment friction between buyers and sellers isn’t just annoying, it’s costly. In fact, 41% of buyers have had late fees on supplier payments in the past year, according to “The Financial Performance Quandary: Lending Automation to Better Manage Non-Payroll Spending,” a collaboration between PYMNTS and Airbase.

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New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

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