Visa to Continue to Offer BPN to its Clients,
Helping Businesses Streamline the B2B Digital Payments
Process
HAMILTON
TOWNSHIP, N.J., July 11,
2024 /PRNewswire/ -- Billtrust, a B2B order-to-cash
and digital payments market leader, announced that it has extended
its collaboration with Visa, a world leader in digital payments, to
support its Business Payments Network (BPN). Visa will
continue to offer BPN access to its financial institution clients
to streamline the B2B digital payments process for their corporate
customers.
Launched in 2018 in collaboration with Visa, BPN seamlessly
links suppliers to their buyers through connectivity to their
preferred bank and payables providers, radically simplifying
payment acceptance through straight-through processing of virtual
card payments and capture of all available remittance data.
Suppliers benefit from eliminating manual virtual card processing
and optimized acceptance costs, while buyers can transact using
their preferred payment method. In addition, banks and accounts
payable (AP) providers benefit from transparency regarding supplier
virtual card acceptance and preferences.
"We continue to be encouraged by BPN's volume growth and
potential, supporting our ability to offer it to clients," said
Veronica Fernandez, SVP and North
America Head of Visa Commercial Solutions. "The network's
expansion, coupled with innovative features, underscores our
commitment to empowering financial institutions and fintech
partners with essential 'last mile' capabilities focused on
reducing friction, while driving incremental payment volume through
this mutually beneficial B2B payment method."
"Visa's continued collaboration with Billtrust is a testament to
our mutual belief in the power of BPN to expand the B2B payment
ecosystem through continued ergonomic and economic support of
virtual card acceptance, driving frictionless and more
cost-efficient acceptance," said Nick
Izquierdo, Executive Vice President, Payments, Billtrust.
"BPN's critical infrastructure connects hundreds of suppliers and
hundreds of thousands of buyers while facilitating billions of
dollars' worth of payments at exceptional straight-through
processing rates."
About Billtrust
Finance leaders turn to
Billtrust to get paid faster while controlling costs,
accelerating cash flow and maximizing customer satisfaction. As a
B2B order-to-cash software and digital payments market leader, we
help the world's leading brands move finance forward with
AI-powered solutions to transition from expensive paper invoicing
and check acceptance to efficient electronic billing and payments.
With more than $1 trillion invoice
dollars processed, Billtrust delivers business value through deep
industry expertise and a culture relentlessly focused on delivering
meaningful customer outcomes.
Media Contact
Paul Accardo
PR@billtrust.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/billtrust-teams-up-with-visa-to-extend-business-payments-network-bpn-collaboration-302194060.html
SOURCE Billtrust