Today in B2B payments, Plastiq loops its platform into QuickBooks and Tide expands into India. Plus, Personio raises $125 million, Infineon launches employee ID payment cards and the U.K. tightens prompt B2B payment requirements.
Plastiq Integrates Intuit QuickBooks For Seamless Automatic Pay
Plastiq, an intelligent payments services provider for businesses, is integrating Intuit QuickBooks to help businesses save time and money, according to a press release emailed to PYMNTS. The combination will offer a “seamless, automated way to reconcile payments, bills and invoices” with a company’s accounting system, the release stated. No manual entry is required.
British SMB FinTech Firm Tide Looks To Grow In India
As part of its international growth plans, British business FinTech company Tide unveiled intentions for an experimental rollout in India in the first quarter of this year with a broader launch to come, Business Standard reported. Tide India is poised to come online in Q1 2021 beginning with an alpha pilot offering based on its international technology stack. Currently, the firm has a technology hub in Hyderabad and a workforce of nearly 100 individuals in the nation who are mainly software programmers, according to the report.
HR Software Firm Personio Raises $125 Million In Series D Funding
Human resources technology company Personio landed $125 million in new and preemptive Series D funding in an investment round that provides the company with a value of $1.7 billion, according to a Monday (Jan. 18) announcement. The new funding will speed up additional international growth, helping with the company’s aim of “becoming Europe’s leading HR platform” for small and medium-sized businesses (SMBs), according to the announcement.
Infineon Debuts Employee ID, Mastercard Payment Card
Infineon Technologies, which works as a semiconductor manufacturer, is doing away with employee identification cards at its Germany headquarters, and is instead implementing a new smart card solution that combines office building access and Mastercard contactless payments capabilities, according to a FinTech Intel report. The new tech is called the Campeon Card, according to the report. In Munich, employees will be able to enter buildings, make cashless payments and transmit their digital business cards using near-field communication (NFC).
UK to Require Companies To Pay Small Businesses In 30 Days
The U.K. government is looking to crack down on companies that take too long to pay suppliers, according to a report from the Financial Times. The effort is intended to relieve pressure on small to medium-sized businesses (SMBs) facing cash flow troubles because of the ongoing pandemic. On Tuesday (Jan. 19), the government is planning to strengthen the Prompt Payment Code, which is currently only voluntary, to require 95 percent of invoices for SMBs to be paid within 30 days, FT reported. That rule will go into effect on July 1.
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