Today in B2B payments, U.S. Bank rolls out an accounts payable optimization solution through a collaboration with Bottomline Technologies. Plus, AvidXchange integrates with Concur Invoice, Paytm debuts payout capabilities for businesses, and Nacha’s Phixius platform goes live.
AvidXchange Connects With Concur Invoice For Vendor Payments
Accounts payable (AP) and payment automation provider AvidXchange has rolled out a connection with Concur® Invoice for vendor payments. The connection lets Concur Invoice clients make bill payments more efficiently by providing digital payment choices to vendors through the AvidPay Network, with the inclusion of AvidPay Direct and virtual card, according to a Tuesday (Nov. 10) announcement. Concur Invoice lets companies ingest and digitize invoices via machine learning, integrating the payments in one system to supervise expenditures. With the collaboration, users of the program have visibility to simplify approvals and accelerate the transfer of money by finishing the AP workflow via AvidPay.
Paytm Rolls Out Payout Links For B2B Payments
Indian payment firm Paytm has rolled out Payout Links for companies, which lets them immediately process payouts to suppliers, workers and clients without receiving their banking details, according to a Tuesday (Nov. 10) blog post. Paytm says its Payout Links can be simply made and shared with workers, suppliers, and clients in “one go.” The entity getting the payment opens the link and is automatically presented with a list of saved accounts like Paytm UPI, Paytm Wallet and linked bank accounts. As no additional data is required, the receiver doesn’t have to recall bank details, and the risk of human error is essentially taken out of the equation. Furthermore, Payout Links lets the receiver have increased control over selecting the account that will receive the funds while also keeping banking information private.
Phixius Officially Goes Live For Secure Info Exchanges
Nacha has announced that Phixius, which facilitates the trusted exchange of payment information, has officially gone live, according to a press release. The release says Phixius has also officially completed its first information exchange transaction between two parties. Phixius provides interoperability between various participants connecting to the platform, enabling better security in moving data as opposed to storing it in a central repository like the cloud. George Throckmorton, Nacha’s managing director and executive director of Afinis API Standards, said the company is “excited” to have Phixius finally go live.
U.S. Bank Debuts AP Optimizer In Bottomline Collab
U.S. Bank has rolled out its new AP Optimizer, which is a digital tool that works to simplify invoice processing and payments for businesses, according to a press release. AP Optimizer has the effect of putting those services into a single system and lets organizations work on cutting costs, creating rebate opportunities and better managing working capital, the release stated. “AP Optimizer is a big win for our customers and is part of our strategy to provide an integrated offering to manage accounts payables,” said Jeff Jones, head of Corporate Payment and Treasury Solutions for U.S. Bank, according to the release. “Our customers will have the ability to transform workflows and payments to a digital solution with improved visibility, embedded security and fraud mitigation tools.”