B-to-B payments

Several large mobile point of sale projects are hitting the market at once to reach financially troubled retailers, with JPMorgan Chase making use of a three-year-old acquisition to push back against the technology firms that have been gobbling up small-business clients.

Most organizations simply can’t afford slow processes that are riddled with bottlenecks, says Kofax's Michelle Trapani.

With the realities brought on by COVID-19, going digital is no longer optional—it’s necessary.

Payments provider B4B Payments has been authorized to become an e-money institution in the U.K., and is seeking a license in Lithuania so the company can advance its prepaid card business throughout Europe.

The pandemic has caused a massive shift in corporate expenses, turning the company dime upside down as plane tickets give way to home office equipment. It’s a complication for those who track, approve and pay for these expenses, requiring a new approach in the back office.

Tipalti, whose platform supports cross-border B2B supplier payments, has raised $150 million in its latest funding round, bringing the total it’s raised from outside investors to $280 million.

With travel spending still largely sidelined by the coronavirus pandemic, Amazon is looking to harness more of the spending that small and medium-sized businesses are focused on for recovery.

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.

For suppliers, getting paid by card is the fastest way to get their money in the bank. On the buyer’s side, virtual cards are the most secure payment method, and they can also generate rebates, says Nvoicepay's Kristin Cardinali.

Swift is working with more than 20 banks in its network to test a service designed to help consumers and small and medium-size companies send low-value cross-border payments with the same speed and transparency benefits larger banks enjoy on Swift rails.