Billtrust Expands its Business Payments Network (BPN) Relationship with KeyBank
21 April 2022 - 10:00PM
Business Wire
KeyBank Leans Into Digital Transformation,
Enabling Both Electronic Invoice Delivery and Payment Acceptance
for Clients
Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation
and integrated payments leader, announced today that it has
expanded its Business Payments Network (BPN) provider relationship
with KeyBank to include B2B invoice delivery in addition to
capturing payments and processing remittance data through its
first-of-its-kind digital lockbox. In reselling BPN to business
clients, KeyBank will now enable them to automatically deliver
invoices to more than 170 leading accounts payable portals.
The recent proliferation of accounts payable portals used by
buyers has created additional manual work for suppliers’ accounts
receivable teams. In fact, according to recent research conducted
by Billtrust, the average accounts receivable team is uploading
invoices into 11-20 accounts payable portals each month. With the
ability to automatically deliver invoices into these portals,
KeyBank clients can dramatically boost efficiency and productivity
while speeding cash flow.
“BPN has given our clients the ability to quickly convert checks
to digital payments,” said Megan Kakani, Head of Emerging Products,
KeyBank Enterprise Payments. “KeyBank is excited to take an active
role in adding new suppliers that will benefit from increased
electronic acceptance and reconciliation capabilities.”
“I’m pleased to build on our already strong relationship with
KeyBank, and I appreciate their confidence in BPN’s ability to
accelerate their clients’ digital transformation at a time where
all businesses can benefit from these types of innovations,” said
Nick Babinsky, Senior Vice President & General Manager,
Business Payments Network, Billtrust.
About Billtrust
Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based
software and integrated payment processing solutions that simplify
and automate B2B commerce. Accounts receivable is broken and relies
on conventional processes that are outdated, inefficient, manual
and largely paper based. Billtrust is at the forefront of the
digital transformation of AR, providing mission-critical solutions
that span credit decisioning and monitoring, online ordering,
invoice delivery, payments and remittance capture, invoicing, cash
application and collections. For more information, visit
Billtrust.com.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, statements regarding
the benefits and synergies that may be realized by Billtrust (“the
Company'') and KeyBank as a result of the partnership. These
forward-looking statements are not intended to serve as, and must
not be relied on by any investor as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and
will differ from assumptions. Many actual events and circumstances
are beyond the control of the Company. These forward looking
statements are subject to a number of risks and uncertainties,
including those factors discussed in the Company’s filings with the
SEC, including in the “Risk Factors'' and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations”
sections of the Company’s most recently filed periodic reports on
Form 10-K and Form 10-Q and subsequent filings. If the risks
materialize or assumptions prove incorrect, actual results could
differ materially from the results implied by these forward-looking
statements. These forward-looking statements are subject to a
number of risks and uncertainties, including Billtrust’s and
KeyBank’s ability to realize the anticipated benefits and synergies
of the partnership. There may be additional risks that the Company
presently does not know or that they currently believe are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect the Company’s expectations,
plans or forecasts of future events and views as of the date of
this press release. The Company anticipates that subsequent events
and developments will cause its assessments to change. However,
while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing the Company’s assessments
as of any date subsequent to the date of this press release.
Accordingly, undue reliance should not be placed upon the
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220421005013/en/
Investors John T. Williams IR@billtrust.com
Media Paul Accardo PR@billtrust.com
BTRS (NASDAQ:BTRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
BTRS (NASDAQ:BTRS)
Historical Stock Chart
From Jul 2023 to Jul 2024