Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P, and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable, 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!
Basware Terminates Discussions with Tradeshift
Be sure to read our full analysis of the recent news by clicking here.
FinTech Influencer Series Discussion
Ardent’s FinTech Influencer Series highlights innovative voices in the world of Accounts Payable (“AP”) automation. Read the latest discussion with Matt Clark, President and COO at Corcentric by clicking here.
FLEETCOR to Acquire Nvoicepay
FLEETCOR Technologies, a global provider of commercial payment solutions, this week announced the acquisition of Nvoicepay, an Oregon-based provider of B2B payment automation software. Nvoicepay delivers AP automation solutions for customers to pay their suppliers electronically. The full disbursement capabilities of Nvoicepay along with FLEETCOR’s existing card processing solutions, enables businesses to pay their entire accounts payable expenses, including both domestic and international payables. Nvoicepay will help FLEETCOR, which is headquartered in Georgia, to accelerate the growth of its corporate payments business by offering customers a simplified way to make payments with one vendor. Terms of the deal were not disclosed.
Proactis Secures $26.3 Million in Funding
Proactis, a global spend management and B2B eCommerce company, has secured $26.3 million (£20 million) in funding from HSBC UK, to help bring to market new technology. The company says that the funding will allow it to roll out new technology to customers that will deliver frictionless cash flow between businesses. The new technology will help speed up and incentivize payments, which should help SMEs improve liquidity. It should also help larger enterprises manage their supply chains, and ease some of the impact on working capital. Proactis has been validating a funding solution that will help solve some cash flow issues that are felt by buyers and suppliers. The new funds will enable Proactis to better support early adopters of the technology.
Citizens Bank Partners with Priority Commercial Payments to Deliver Integrated Payments Service
Earlier this week, Citizens Bank announced a new partnership with Priority Commercial Payments, a division of the Georgia-based Priority Technology Holdings, Inc. Through this new partnership Citizens Bank will be able to offer a new B2B integrated payment service for its commercial banking customers. Citizens offers a new accessAP platform which automates the AP process using multiple settlement types like virtual card, ACH, and dynamic discounting, and delivers them to clients in a single payables experience. The news is the latest in a series of investments by Citizens Bank to make improved product offerings for treasury management services. Priority Commercial Payments offers a complete solution suite for automated payables, and the features will be available to Citizens Bank clients.
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