Today in B2B payments, research shows 15 percent of B2B receivables arrive late, and ClearBank expands its offerings for financial institutions and FinTechs that operate in multiple currencies. Plus, Archa rolls out a smart business credit card and spend management platform, and Esker rolls out B2B payments platform.
Archa FinTech to Debut Smart Business Credit Card in Australia
Australian FinTech and ex-consumer neo bank Archa will have a smart business credit card and spend management platform. Founder and CEO Oliver Kidd said the company’s beta program has been doing well, and there’s a waitlist of businesses wanting to try Archa.
ClearBank Expands Into Multi-Currency Offerings for FIs, FinTechs
Cloud-based clearing bank ClearBank now offers a multi-currency solution intended to cut down on friction for FinTechs and financial institutions (FIs) working with cross-border payments.
The new ClearBank offering tech can be integrated with platforms using multi-currency platforms to boost their services, starting with VertoFX, a B2B currency exchange marketplace and payments platform.
Esker’s New B2B Payments Platform Aims to Improve Cash Flow Mgmt
Esker recently debuted an integrated payment platform called Esker Pay and FinTech partnerships that leaders say will help businesses unlock cash flow.
Esker Pay includes end-to-end payment automation, fraud prevention and processes that eliminate or limit late fees and negatively impacted cash flow concerns.
15% of B2B Receivables Do Not Reach the Designated Company on Time
Online banking and payments are on the rise for consumers and businesses, but challenges still exist when it comes to B2B receivables, according to The Treasurer’s Guide To AR Payment Optimization, a PYMNTS and CheckAlt collaboration.
Our research shows 15% of B2B receivables do not reach the designated company in time. Nearly two-thirds of businesses were actively trying to coax their clients or industry partners away from using cash and checks when sending or asking for payment, according to the new guide.
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