Today in B2B payments, Plastiq debuts bank transfer functionality, while JCB is reportedly working on a blockchain B2B payment solution. Plus, Freights.com integrates its logistics services into B2B eCommerce platforms, Project44 raises new funding, and J.P. Morgan Chase announces new head of channels.
Plastiq Expands Services With Cash Payments Offering
Intelligent payment services provider Plastiq has announced it will allow for U.S. cash to be used on its payments platform, not just credit card payments, according to a press release emailed to PYMNTS. The release stated the new service enhances the company’s offerings to allow businesses to pay their bills in one place with linked bank accounts or credit or debit cards to optimize cash flow management. Plastiq’s cash payment service will now let users make any payment through their linked bank account, and users can now make payments instantly, without the hassle of worrying about writing a check.
Report: JCB Developing Blockchain B2B Payment Product
JCB, a Japanese card provider, is developing a blockchain B2B payment offering specifically for netting trades between two parties. JCB is teaming with LayerX, a local company, on the offering, Ledger Insights reported. Most companies have a one-way partner relationship, but firms that have two-way trade encompass commodity traders, investment companies and maybe the big Japanese firms. Not many particulars of the effort were available, according to the report. In December 2019, Paystand entered into an initial partnership with JCB to provide an end-to-end online payments system for clients of JCB and large Japanese companies.
Freightos.com Grows B2B Platform For eCommerce Logistics
In a move planned to simplify B2B eCommerce, Hong Kong-based Freightos.com has grown its online B2B digital infrastructure. The technology lets firms in the B2B space make an order, see freight choices and fees and handle the shipment’s status in a similar way to people ordering on platforms such as Amazon.com, American Shipper reported. The company’s move is the newest effort to bring the technologies that have been around in the business-to-consumer (B2C) fulfillment sphere for a while to international B2B, according to the report.
Supply-Chain Startup Project44 Raises $100 Million In Series D Round
Supply chain technology startup project44 raised $100 million in a Series D funding round led by existing investor Insight Partners, with additional support from Eight Partners VC LLC, Emergence Capital Partners, Omidyar Technology Ventures, Sapphire Ventures LLC, Sozo Ventures and Underscore VC. “We are the connective tissue for logistics and supply chains,” project44 Co-Founder and CEO Jett McCandless told The Wall Street Journal on Monday (Dec. 21) The new funds will be used to grow its supply-chain visibility software and expand business for a possible public stock offering in the future. The funding is part of the growing support of logistics providers and supply chain that is focused on developing and executing new technology solutions.
Citi Exec Joins JPMorgan Chase As Head Of Channels
Lisa Davis, former Citigroup executive, is joining with J.P. Morgan Chase as the company’s new head of Channels, according to a news release emailed to PYMNTS. Davis spent the previous 22 years at Citigroup, and most recently led the global venture incubation efforts for Citi’s Institutional Client Group, which works to identify, validate and launch new growth opportunities, digital products and technology, the release stated. Prior to that job, she worked as data governance officer for Citi’s Treasury and Trade Solutions (TTS). In that role, she drove data governance best practices across the global TTS organization.
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