Today in B2B payments, J.P. Morgan sounds off on the U.S. stimulus debate, while the U.K. plans a trade financing program to spur post-Brexit trade. Plus, Kit Check debuts a hospital supply chain solution, Paydeck collaborates on cross-border payments and Adflex launches a solution for supply chain card payments.
JPMorgan Chase Adds Voice To Stimulus Debate
One of the nation’s largest financial institutions (FIs) is quietly pushing for another round of stimulus funding, with the focus on helping jobless workers and low-income families. J.P. Morgan Chase has sent over to President-elect Joe Biden a series of recommendations on what the banking giant thinks should be in the next stimulus package, as well as a warning about the negative impact of taking no action on the crucial issue, according to CNBC. Spending by unemployed workers has declined rapidly since the additional $600 federal benefit under the original, $2 trillion stimulus package expired in August, according to the bank’s policy paper.
Kit Check Rolls Out New Tech To Optimize Hospital Supply Chains
Pharmaceutical industry software company Kit Check has rolled out Bluesight Insights, which harnesses technology for supply chain management. The tool assists health systems and medical centers with handling and stocking their pharmacy supply by offering live analysis into GPO compliance, medication pricing and 340B optimization, according to a Monday (Dec. 7) announcement. These organizations “manage strict budgets and ensure they have the appropriate medications available for their patient population, all while trying to navigate the complex pharmaceutical supply chain,” Kit Check CEO and Co-Founder Kevin MacDonald said in an announcement.
Paydek Collaborates With Thunes On X-Border Payments
British payments firm Paydek has teamed with Thunes, the international payments network, to offer a wider global reach and bolstered payment choices to clients, according to a Monday (Dec. 7) announcement. Paydek’s infrastructure supports an extensive international base of people and businesses as clients, handling payments to more than 160 nations. The clients can make payments to workers, vendors and partners in a quick, dependable and cost-effective manner, according to the announcement.
UK Government To Aid Exporters To Encourage Free Trade After Brexit
British exporters will receive additional help from the government in order to take advantage of new free trade agreements and bolster trade after Brexit, as announced on Monday (Dec. 7), per a Financial Times report. Under the new program, exporters can apply for larger loans from the five U.K. high street banks, with the loans backed by a partial state guarantee that can be used to cover export costs or scale up a business. The announcement for the new program comes as the Brexit transition period is set to end on Dec. 31, at which point there will be new customs procedures and expenses for companies to export into the EU.
Adflex Unveils Payment Links To Help Supply Chain Merchants
Adflex has unveiled a new initiative aimed at boosting supply chain merchants’ ability to accept card payments from buyers as eCommerce booms amid the coronavirus crisis. Patrick Bermingham, CEO of the B2B payments specialist, said in a Monday (Dec. 7) blog post that its new Payment Links service will “enable supply chain merchants to simplify and accelerate payment acceptance from corporate buyers.” Connected to Adflex’s payment platform, suppliers can “send a payment link via email or SMS,” enabling buyers, in turn, “to settle invoices quickly and securely from any geography, encouraging timely reconciliation and reducing cash flow problems caused by late payments,” Bermingham wrote.
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