Today in B2B payments: companies launch BNPL
Today in B2B payments, Ionia and Certegy are rolling out a new buy it now, pay later (BNPL) offer, Wave is launching a new mobile app for small business owners, and Jimmy Brings is launching a new storefront. Additionally, Capital on Tap is securing a $110 million credit facility to build a central funding center for small businesses, while Credit Key is raising $115 million for its BNPL B2B solution.
Integrated payments and rewards platform Ionia and payments technology and risk management firm Certegy have rolled out a new buy-it-now, pay-later (BNPL) offering for merchants. Ionia CEO Marshall Greenwald said this Pay Later service will enable any consumer-facing app to “provide its customers with a seamless, frictionless, and interest-free payment experience through the largest merchant network in the states.” -United”.
Money management solution Wave has launched a new mobile app to offer services to small business owners. Wave CEO Zahir Kjoja said, “When Solo Entrepreneurs, Freelancers and Independent Business Owners can access better digital accounting, small business banking solutions and get paid faster , it helps them improve the performance of their businesses and helps their families and communities prosper.
Australian express liquor delivery service Jimmy Brings has launched a Progressive Web Application (PWA) storefront based on the headless architecture of e-commerce platform BigCommerce. Elliott Krass, Product Manager at Jimmy Brings, said: “We need the certainty that when someone visits our website or app, they can board and buy with the least amount of friction.”
Global FinTech Capital on Tap secured a $110 million corporate revolving credit facility and said it will use the funding to build a central financial center that will help small businesses in the US and UK manage all aspects of their business finances. The company plans to add a full Accounts Payable (AP) suite, a credit score generator, and several other products and features for small business owners.
B2B payment solutions startup Credit Key has raised $115 million in debt and equity funding for its point-of-sale (POS) e-commerce solution that offers businesses an instant buy now, pay more feature late (BNPL) at checkout. Credit Key CEO and Founder John Tomich said, “As we see a downturn in the technology sector, there is still a huge untapped opportunity in B2B. [eCommerce] Payments.”
In the earthmoving, scrap metal recycling and waste transport businesses, 90% of information is transmitted on paper. However, a growing number of industry players who have adopted digital solutions have found that they are becoming more efficient, accurate and even safer, TruckPay CEO Barry Honig told Karen Webster of PYMNTS during from a discussion for the Visa B2B series: “What CFOs and Treasurers Can Teach About Going Digital Payments.”
Businesses are increasingly attracted to the value that technology leasing offers, including a more flexible, sustainable and often cheaper alternative to outright purchase of expensive products. Grover’s vice president of B2B, Sam Selldorff, told PYMNTS in an interview that companies are “moving away from an office-centric structure [and focusing] more about digitization within the organization, and those two things mean you need new technologies and new ways of working.
As fleet operators aim to reap the many benefits of the transition to connected vehicles, nearly half of vehicles in corporate fleets are expected to be connected vehicles by 2025. This is a growing sign that the digital workplace also extends to vehicles, according to the latest entry in the “B2B and Digital Payments Tracker®” series, “Reshaping Global Business With Connected Vehicles,” a collaboration between PYMNTS and American Express.
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