Today, in B2B payments, Yapily and Two are teaming up to help small and medium-sized enterprises (SMEs) with their cash flow, while Verto offers multi-currency global accounts for B2B businesses. Additionally, FOO is expanding its B2B FinTech operation in Saudi Arabia.
The open banking company Yapily, B2B FinTech Two partner on BNPL for SMEs
London-based open banking application programming interface (API) startup Yapily is working with B2B buy now, pay later (BNPL) FinTech Two to help SMEs ease their cash burdens. The partnership is designed to help SMEs obtain credit through BNPL and open banking. When a business buys goods online, they can choose to pay through Two at checkout and have the option to pay 14-90 days after purchase, accessing instant flexible credit.
Verto Unveils B2B Multi-Currency Global Accounts
B2B cross-border foreign exchange (FX) platform Verto has launched its multi-currency global account, enabling businesses to receive and send payments in 190 countries in 51 currencies. Global Account allows companies to withdraw money in up to 25 currencies, convert the funds and pay their partners, suppliers or employees. The company completed a $10m Series A funding round in September and has a presence in Europe, the US and the UK.
B2B FinTech FOO expands in Saudi Arabia
B2B FinTech provider FOO is expanding its operations in a bid to improve digital transformation in Saudi Arabia. FOO works with banks and retailers to create digital products to improve business models and customer experiences, including solutions for remittances, digital wallets, tokenized transactions and BNPL.
Data management is key to streamlining B2B payments
According to “The 2022 Digital Payments Guide for Corporate Payments,” a collaboration between PYMNTS and LexisNexis Risk Solutions, one of the keys to higher straight through processing (STP) rates is access to a cash management system connected to enterprise resource planning (ERP) (TMS) that offers reliable vendor data ranging from payment instructions to near real-time user authentication, easily updated in a master data table of suppliers.
Economic uncertainty drives demand for automation
In the face of inflation, rising interest rates and general malaise, consumers are tightening their belts. This hasn’t been a good year for e-commerce investors so far, driving companies to find new ways to cut, save and improve their bottom line. And perhaps nowhere is this felt more keenly than in the office of the chief financial officer (CFO), which creates greater demand for automation.