Visa Collaborates with Billtrust to Help Launch Business Payments Network and Redefine Digital B2B Payments
Supplier-Centric Approach Simplifies Connectivity for Suppliers, Buyers and Financial Institutions
businesswire.com
Visa (NYSE: V) and Billtrust today announced that they are collaborating on Billtrust’s Business Payments Network (BPN), which is designed to streamline the delivery of electronic B2B payments to suppliers. As a unique supplier-driven B2B payments network, BPN provides a transparent registry of suppliers who accept digital payments, giving buyers and financial institutions the necessary access to automate what has historically been a complex process. BPN makes it easier than ever to harness the increased efficiencies, greater security and lower costs associated with processing digital payments, without needing to make significant changes to existing infrastructure.
“There is a great deal of momentum now building around the digitalization of corporate financial processes to improve cash cycle control and performance, leading to reduced cost and risk, along with gaining more strategic insight using captured transaction data as an analytic base”
“As businesses evolve, digital payments will play an increasingly important role in B2B commerce,” said Kevin Phalen, global head, Visa Business Solutions. “Collaborating with Billtrust on the Business Payments Network will allow us to improve the experience for suppliers on the receiving end of the payment, while enabling our financial institution clients to streamline the B2B payments process for their corporate customers and provide a better way for buyers and suppliers to realize the benefits that digital payments provide. |
