Today in B2B payments, Reach adds an integration that lets online merchants more quickly start selling internationally, Arcadier chooses Nuvei to meet the payments needs of different marketplaces and Bond helps companies deploy commercial charge cards without having to write code. Plus, Standard Chartered tests MonetaGo’s solution for duplicate financing fraud, and Briq acquires Swipez.
Reach Adds Low-Code Cross-Border B2B, B2C eCommerce Integration
Cross-border payment platform Reach has launched a low-code cross-border eCommerce integration designed to help online merchants more quickly start selling internationally. With the new integration, dubbed “Reach Drop-In,” businesses can integrate this tool with their existing online B2B or B2C storefront with just a few lines of code. “Drop-In allows businesses of any size to quickly and securely overcome traditional international barriers to entry,” the company said in a press release.
Marketplace Platform Arcadier Selects Nuvei as Payment Partner
SaaS B2C and B2B marketplace platform Arcadier has selected payments platform Nuvei as its preferred payment partner in the U.S., Latin America, Europe, the Middle East and Africa. “Nuvei’s payment solution has allowed us to give our customers access to innovative payment technology that adapts to the needs of every marketplace,” Arcadier Chief Commercial Officer Gary Ramsell said in a press release.
Bond Debuts Commercial Charge Card Deployment Tool
Embedded finance platform Bond Financial Technologies has launched a white-label, no-code commercial charge card solution for B2B SaaS platform providers. With this new product, which is dubbed “Bond White Label,” platforms can launch their own branded cards in weeks without having to write code.
Standard Chartered Tests Duplicate Finance Detection Tool
Financial services company Standard Chartered has completed what it called an industry-first test of the trade financing validation service from MonetaGo over the SWIFT payments system. The pilot took place in the second quarter and saw the platform come back with results of exact matches and suspiciously similar transactions in almost real time.
Construction Industry Platform Briq Buys Swipez to Add AR Automation
Construction industry-focused financial automation platform Briq has expanded its capabilities by buying India-based FinTech Swipez, which automates billing and accounts receivable (AR). “Bringing automation to the billing and accounts receivable functions will drastically improve the ability for construction companies to accurately project cash flow,” Briq Co-founder and CEO Bassem Hamdy said in a press release.
Slow Real-Time Payments Adoption in US Holds Back B2B Commerce
B2B buyers and sellers have a lot to gain from an instant payments rail — and a lot to lose if the United States doesn’t catch up to the rest of the world — according to the “Real-Time Payments Tracker,” a collaboration between PYMNTS and The Clearing House. According to the report, 53% of U.S. businesses said cash flow management improves when transmitting real time payments, for example.
Despite Progress, Many Payments Verticals Still in Trade ‘Dark Ages’
While some businesses have made improvements in the way they conduct cross-border commerce, others are ripe for digital migration. Boost Payment Solutions Founder and CEO Dean Leavitt told PYMNTS in a recent interview, “A lot of the industries that I’ve identified are in the Dark Ages when it comes to the data exchange, the way in which remittance detail is exchanged among all the stakeholders.”
Royal Media, Trnsact to Host Event for Equipment Finance Networking
Royal Media will be working with payment integration platform Trnsact to help make a new event for the equipment finance sector. Called Equipment Finance Connect and taking place Feb. 27-28, 2023, in Charlotte, it will facilitate “exclusive networking” for equipment vendors, lenders and insurance providers, and will reportedly be the first in the industry to let equipment vendors meet finance providers one on one, along with fostering F&I best practices in the industry.
Remote Workers’ Changing Preferences Influence CFO Policies
One of the top macro issues that consistently emerges in PYMNTS discussions with chief financial officers (CFOs) is the challenge of recruiting and retaining top talent. Data from the September edition of “The ConnectedEconomy™ Monthly Report” sheds light on the state of the contemporary workforce and can help them keep pace with changing worker preferences.
Inflation Challenges Margins at Government Contractors
Chief financial officers (CFOs) of government contractors face different challenges than their peers at companies with a private sector base, but share many issues with those colleagues. Intelligent Waves CFO Amy Wood told PYMNTS in a recent interview, “We don’t worry about getting paid, but we must worry about our margins being a little less than a commercial entity might see. So, there are trade-offs like anything else.”
HubSpot Tackles ‘Crisis of Disconnection’ in CRM
Customer relationship management platform HubSpot has launched new features and updates designed to deal with what it calls a “crisis of disconnection.” The company said in a news release, “Fundamental shifts in buyer behaviors have made it have made it increasingly challenging for organizations to create meaningful connections with their customers.”
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