B-to-B payments

Elavon has joined a collaboration of travel industry partners to streamline the way online travel agencies pay airlines using virtual cards.

Once banks offer digital invoice processing and order approvals, small businesses would no longer need to manage the risk and hassle of paper-based transactions, argues Erik De Kroon, CEO and co-founder of Yordex.

Bank of America Merrill Lynch has added Apple Watch capabilities to its CashPro Mobile app, so business customers may approve corporate payments on the go.

Most do not have an independent treasury function, making cross-border finance difficult, contends Chen Amit, CEO and Co-founder of Tipalti.

Banks are not providing enough visibility into payments and cash flow to aid small businesses' decision-making, writes Erik De Kroon, CEO and co-founder of Yordex.

Using AI to verify receipts alleviates the need for auditors to aimlessly review every single receipt submitted within an expense report, says Travis Andrade, a senior product manager at AppZen.

More businesses are converting to electronic documents and management tools to streamline operations and cut costs, but those upgrades often skip the last part of that journey — how to accept B2B payments in a digital economy.

Bank of America Merchant Services is working with subscription management platform Recurly to help merchants generate revenue and drive subscriber engagement and customer loyalty.

Mastercard hopes to tap into existing partnerships and clients from multiple business lines to combine services in a single menu for small to mid-sized businesses, a market where fintechs have made great strides over the past few years, enough to draw extra attention from established companies.

Facebook’s pursuit of a crypto-based payment system would seem to be filled with potholes and red flags. The social network’s stealth project isn’t much of a secret, and another Facebook virtual currency has already failed years earlier. But Facebook also has a lot in its corner — enough to threaten the e-commerce and payment processing establishment, should its crypto project take off.