Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, procure-to-pay (P2P), and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable (AP), B2B payments, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Tradeshift Announces Blockchain-based Tradeshift Pay for B2B Payments
Tradeshift, the California-based provider of cloud-based business networks, has just announced the launch of Tradeshift Pay, a Blockchain-based end-to-end supply chain payments and finance solution for B2B commerce. Tradeshift Pay combines supply chain payments, supply chain finance, and blockchain-based early payments onto one unified end-to-end solution. Through a single unified wallet, buyers will be able to take advantage of a wide variety of payment options in one platform in the cloud. This includes virtual cards, dynamic discounting, supply chain finance through bank partners, or blockchain-based payments. Tradeshift Pay is being supported by multiple major banks and card providers, including HSBC, Santander, and CreditEase.
SAP Concur Partners with British Airways to Capture Traveler Data
SAP Concur, the expense and invoice management solution provider, has recently announced a new partnership with British Airways to allow data from business travelers to be captured directly through the airline’s website. British Airways has integrated its website with SAP Concur and it is now linked with Concur’s TripLink tool, which means that data automatically collected on direct bookings will now be managed along with other corporate travel bookings – that is, if business travelers choose to link their two accounts. As a result, a traveler’s flight details will be consolidated within the Concur Travel app and itinerary organizer TripIt Pro. This integration aligns with British Airways’ strategy of driving more corporate bookings directly through its website, rather than through third party travel management companies. And it should help British Airways connect its business travel technology with a much larger range of companies.
Basware Releases New AI-Powered Chatbot
Basware, the financial supply chain provider headquartered in Finland, has recently released a new artificial intelligence (AI)-powered virtual assistant feature. The new chatbot, called Basware Assistant, will help users with a multitude of issues, such as searching for order requests and purchase orders. The technology uses natural language processing and AI creating a simplified way for users to interact within Basware’s existing solutions. It should also eliminate the need to navigate a series of screens, searching for an intended purchase. The technology has predictive qualities to search in real-time and communicate those searches back to Basware customers.
HPS Launches Open Banking Platform for Payments
Hightech Payment Systems (HPS), a B2B payments software provider, has recently launched a new API to provide fintech firms with the ability to build payments applications on banks and other financial institutions. The new platform, called PowerCARD Connect-Open API, is designed to help developers integrate mobile payment, tokenization, biometrics, and other emerging banking technologies directly into their own solutions. Payments can now be processed through PowerCARD, its suite of payment solutions. HPS, which is based in Morocco had an initial rollout of the API in the fall of 2017, and is launching the new API in Europe.
Infosys Develops Blockchain-Based Trade Finance Platform with Banks
In a press release last week, Infosys Finacle has announced the formation of a new blockchain-based trade network in India, called India Trade Connect, to digitize end-to-end trade finance operations. Infosys Finacle, which is a part of EdgeVerve systems, a wholly-owned subsidiary of Infosys, has partnered with seven banks in India to form this network and successfully run a pilot version of Finacle Trade Connect, its blockchain solution developed specifically to address the trade finance process requirements of banks. The solution, which was first announced last year, will enable increased automation and transparency, while helping efficiently manage the risks in trade and supply chain financing operations. The technology will help facilitate trade finance processes for banks, and provide easier access to capital for buyers.
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