B-to-B payments

South Asian remittance firm InstaReM has launched its cross-border P2P and B2B digital money transfer service in the U.K. and the EU as it prepares for an IPO in 2021. It also expects to become profitable by then.

Wirecard has created a blockchain-based B2B application to streamline payments for merchants buying raw materials like coffee, crude oil and steel.

The Patriot Act, for example, requires all U.S. businesses to comply with regulations issued by the Office of Foreign Assets Control. Those that fail to comply, knowingly or inadvertently, are susceptible to significant fines and even legal action, writes Peter Shore, general manager of Transpay.

Incumbent bank wires and checks, for example, carry slow settlement times and poor exchanges rates, while some newer fintech alternatives lack the interoperability with one another to scale and sometimes prioritize speed over security, writes Peter Shore, general manager of Transpay

For voice to truly thrive in business and enterprise settings, the technology must handle complicated transactions, such as an order for multiple sets of tables and chairs with customized dimensions, writes Mark Bartlett, chief experience officer at FPX.

Buyers who rely on paper-based payments often struggle to onboard new suppliers. This "process overhead" can be so cumbersome that many buyers become resistant to change, opting instead to limit their supplier choices to a small number of partners, writes Patrick Bermingham, the CEO of Adlex.

Both executives assume their new roles as the Citi unit faces competition from both large banks and fintechs in the cross-border payments market.

Regulatory initiatives have erupted across the globe that call for the implementation of immediate payment systems, writes John Mitchell, CEO of EpisodeSix.

Flywire has partnered with Billtrust, which specializes in B2B payments, to improve processing of cross-border payments.

Australia is the latest country to enable Faster Payments with the February 2018 launch of the New Payments Platform. It's 10 years behind the U.K.'s version, but benefits from a decade of experience and observation.

Like plucking thorns off a flower one by one, Nvoicepay has incrementally built an automated B2B payments chain, this week turning directly to the guts of corporate technology to wring out lingering old-school processing techniques.

The U.K.’s late payments culture and its resulting impact on suppliers has many worrying about whether their clients are the next Carillion, a U.K. construction giant whose collapse left approximately 30,000 SMEs with millions of pounds in unpaid invoices.

The disparities, last-minute additions and disputes in a contractor's payment are giving the business gateway Qualpay a chance to use an invoice fixer as a differentiator in a market filled with payment companies that are morphing into general software sellers.

Contractor invoices are sent up a long string of approvals and payment is sent back down that long string before they are ultimately paid, writes Will Mitchell, co-founder and CEO of Contract Simply.

By reducing, or completely removing, paper-based billing through automation, your company can drastically reduce its environmental impact, writes Colleen Ciak, head of eAdoption at Billtrust.

Bill.com has implemented a strategy to make B2B payments more like Zelle or Venmo, removing the same pain points that those P2P apps do for consumer payments.

Implementing an electronic payments solution isn’t about replacing one payment method (checks) for an electronic one—as in abandoning checks for ACH, writes Ralph Perdomo, a research analyst at Nvoicepay.

The funding round comes on the heels of what BitPay cited as a record year in 2017 in processing more than $1 billion in bitcoin payments.

Venmo is for consumer payments, but that same simplicity can benefit corporate payments, writes Jay Dearborn, president of corporate payments at Wex.

Bank of America is giving its small-business credit card customers some of the key features of the credit card rewards it offers consumers.