Today in B2B payments, JOOR adds a B2B payments tool, Taiwantrade.com aims to build an “intelligent mobile ecosystem” and Indeal looks to solve challenges commonly encountered by businesses in Saudi Arabia. Plus, Payhawk launches its spend management solution in the U.S. and now serves 32 countries.
Wholesale management platform JOOR has unveiled a tool for wholesalers called JOOR Pay, which can be embedded into checkout systems to speed the collection of payments from retailers. Wholesalers can offer 60-day payment terms to select buyers through the tool, which generates payouts within days of transaction processing and reduces the complexity of foreign exchange transactions.
Taiwantrade.com, the biggest B2B official portal for Taiwan, aims to build an “intelligent mobile ecosystem” that includes electric vehicles. Manufacturers of electric vehicles, charging stations and auto electronics are available on the portal. Taiwantrade also recently rolled out Auto Parts Virtual Industry Pavilion as a new way for customers to look into the details of products.
Indeal, an emerging startup in Saudi Arabia, is reportedly looking to digitize B2B trade and alleviate challenges in the B2B eCommerce market. According to an Arab News report, the company said it studied “major industrial cities” in the country and saw a number of common challenges that the Indeal marketplace will attempt to solve by allowing businesses to purchase, sell and connect on the same platform.
European spend management solution Payhawk launched in the United States, introducing a U.S. credit card to support companies that have multiple offices across the United Kingdom, Europe and the U.S. Payhawk now offers a mix of credit cards and debit cards that enable finance teams to use the company’s spend management platform in 32 countries on the two continents.
Payments services provider Stax has announced the launch of Stax Bill, a re-branding of a company called Fusebill that Stax acquired in March 2021. Stax Bill, like Fusebill, offers automated billing software as a service (SaaS) to purveyors and other subscription businesses. Stax said in a press release, “This move will make it easier for finance teams to leverage multiple Stax solutions within its one, easy-to-use platform.”
Ethiopian FinTech startup Chapa has launched an online payment gateway for Ethiopian businesses and said it aims to expand its offering across East Africa and then across the continent. Disrupt Africa reported that with this product, Ethiopian businesses can accept all digital payment methods from anywhere in the world.
The embrace of real-time payments (RTP) has been muted, to say the least. But once things get going, RTP starts chipping away at other, entrenched payment methods, according to “Real-Time Payments: How Speed is Changing the Mix of Business Payments,” a study done in collaboration between PYMNTS and The Clearing House.
FinTech FIS is launching a software-as-a-service (SaaS) solution to let smaller businesses get access to embedded payments and finance solutions through software providers. Called Worldpay for Platforms, it will add embedded payments technology built on the platform through FIS’s acquisition of Payrix.
B2B payments platform Plastiq, which was built with instant access to working capital, has announced a new short-term financing program to allow small to midsize businesses (SMBs) working capital to keep growing. Called Plastiq Short-Term Financing, it will let SMBs apply for funds, get fast decisions and activate a credit line, reportedly in real time, in the manner where a business pays vendors.
Nearly all large firms have plans to expand their implementation of real-time payments, yet real-time payments account for relatively small shares of their overall payments sent and received. “Real-Time Payments: How Speed Is Changing The Mix Of Business Payments,” a PYMNTS and The Clearing House collaboration, explores the factors influencing the adoption and usage of real-time payments technology.
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