Today, in B2B payments, TurnKey Lender and VoPay are collaborating to digitize lending, while TreviPay and Compaynet are teaming up for trade credit. Additionally, cryptocurrency cash management platform Coinshift raises $15 million in a Series A funding round, and fashion supply chain platform Fashinza raises $100 million in a Series A funding round. Series B funding round.
Turnkey lender, VoPay team will digitize loans
Canadian integrated payment technology company VoPay has launched a partnership with unified loan management company TurnKey Lender to provide lenders with fully digitized end-to-end process automation. The companies said that with their integrated technology, lenders can eliminate errors and the time they spend manually processing loan repayments and reconciliations.
TreviPay helps Compaynet power B2B trade credit
B2B payment and credit management company TreviPay has partnered with payment processor Compaynet to power its B2B trade credit product. By working with TreviPay, Compaynet – based in the UK and Italy – can now offer an integrated trade finance solution to these B2B customers, enabling them to offload the administrative functions of accounts receivable (AR), finance and risk. credit so they can spend more time focusing on their business.
Crypto Cash Management Company Coinshift Raises $15 Million
Crypto cash management firm Coinshift has raised $15 million in a Series A funding round and is set to launch a new version of its platform. The Wyoming-based company launched in June 2021 and said it manages over 1,000 crypto vaults, $1.3 billion in assets and $80 million in payouts for organizations including Consensys, Messari , Biconomy, Uniswap, Perpetual Protocol and Balancer.
Fashion supply chain platform Fashinza raises $100 million
Fashinza, a B2B marketplace/supply chain platform for fashion brands and retailers, raised $100 million in a Series B funding round. The company said it will use the capital to expand its global presence and invest in supply chain technology. It hopes to monetize FinTech offerings, expand into raw material sourcing, and create a sustainable supply chain by 2030 and Industry 4.0 solutions for small and medium enterprise (SME) manufacturers.
Vouchers are gaining popularity as a way for businesses to show they care
As businesses navigate a world where pandemic-related restrictions are lifted, some are returning to in-person workplaces, while others are embracing hybrid or remote working models. Uber for Business said customers use its voucher program to incentivize and reward customers, guests and employees by paying for rides with Uber and food deliveries with Uber Eats.
PYMNTS Intelligence: How Invoice Processing Automation Works to Streamline Workflow
Time, labor, errors and the risk of fraud are the foundation of the fight against manual invoice processing. A study found that lengthy invoice and payment approval processes were the top challenge for Accounts Payable (AP) managers, cited by 60% of respondents, and 31% said these processes involved too much paper. A total of 88% of accounts payable professionals in another report attributed the preponderance of payment errors to manual systems, and two out of three respondents said long hours were the result.
CFOs say dynamic pricing is a must in the home repair industry
When fixing a home, speed is key. For a company that orchestrates repairs, this means that the work is identified, estimated and signed off, and then a contractor is in place to begin work. Doing all of this very quickly “is a competitive advantage for us but certainly meets the expectations of our customers,” PunchListUSA CFO Mark Kearns told PYMNTS.
To entice sellers, try offering real-time payments
Omri Mor, CEO of B2B mass payment company Routable, told PYMNTS CEO Karen Webster that instant payments could change the dynamics of business payments. Faster payouts, he said, “have a huge benefit in helping both parties resolve what they really need, which is to get the money transfer done.” Routable partners with the Real-Time Payments (RTP) Network to offer its Real-Time Payments services with the goal of helping Routable customers deliver instant payments at scale.