Finland's Basware joins the B2B automation race in North America

Basware, the Finland-based e-invoice provider, has launched an integrated B2B payments service in North America enabling corporations to pay suppliers faster.

Basware NetworkPay supports fully automated check, ACH, virtual card and wire payments from a single application, with the option to earn early payment discounts through streamlined processes, Basware said in a recent press release.

B2B payments have long lagged consumer transactions in adopting new technology, but fintechs have recently increased automation in an attempt to reduce manual and paper-based processing.

“The launch of NetworkPay represents another example of how e-invoicing is evolving in North America from being a largely technical service focused on delivering process efficiencies to one that is able to deliver transformational commercial benefits to businesses,” said Sami Peltonen, Basware’s vice president of purchase-to-pay, in the release.