Today in B2B payments, Balance and Mirakl partner to enable seamless payments on B2B marketplaces, Procurant and Uber Freight Team to streamline logistics for suppliers of fresh produce, and Tempo France and Orokii open a remittance corridor. Plus, Jiko raises $40 million to “transform the future of liquid money storage.”
Balance, Mirakl Partner to Add B2B Payments to Marketplaces
B2B payments platform Balance and enterprise marketplace Software-as-a-Service platform Mirakl have announced a partnership in which Mirakl will use Balance solutions to enable seamless payments on B2B marketplaces. Balance CEO and Co-Founder Bar Geron said in a press release: “At Balance, our mission is to fully digitize B2B trade by bringing business payments online, and partnering with Mirakl will allow us to serve more B2B marketplaces than ever before.”
Procurant, Uber Freight Team to Streamline Produce Supplier Logistics
Procurant and Uber Freight US have partnered to give fresh produce suppliers a new way to source and book shipping with competitive rates. The collaboration brings together Procurant’s cloud-based software for the food supply chain and Uber Freight logistics solutions that offer reliability, flexibility and transparency for shippers and carriers.
Tempo France, Orokii Open Remittance Corridor
Money transfer companies Tempo France and Orokii have opened a remittance corridor between the United States, 27 European Union countries, the Philippines and Ukraine. The firms said in a press release that the partnership “aligns with our shared values of providing cross-border blockchain-based money remittances, lowering customer transaction costs, reducing delivery time and promoting financial inclusion.”
Jiko Launches ‘Spendable T-Bill’ Money Storage Solution for Companies
Financial network Jiko has announced the public launch of Jiko Money Storage, a solution that enables companies of all sizes to store money in spendable T-bills. The company has also announced that it has closed a $40 million Series B funding round and said it plans to use the new funding to “transform the future of liquid money storage.”
Macro Challenges Drive More Business to Full-Blown Payments Automation
As inflation has risen over the past few years, some financial professionals have had to slow down their digitization initiatives. In an interview with Visa Business Solutions Vice President, North American products Leigh Radtke, a treasurer, a CFO and two CEOs said many companies, including their own, have been refocusing their efforts to bring business payables more fully into the 21st century.
Here’s Why Instant Payments Are Here to Stay
New PYMNTS data shows that two-thirds of consumers reported sending or receiving at least one instant payment in the past year — a 7 percentage point year-over-year increase. IngoMoney CEO Drew Edwards told PYMNTS’ Karen Webster in a recent interview: “We don’t see growth going back [or reversing] across sectors,” affirming a short- and long-term bullish belief that the era of instant payments — and their best days — are still to come.
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