B2B payments company Billtrust is teaming up with payment processing firm CardConnect to facilitate the invoice-to-cash process, reports said Wednesday (April 19).
Billtrust is integrating its payment cycle management tool, Quantum, into CardConnect’s B2B payments platform to facilitate the collection of invoice payments made via credit and debit cards. The tool also provides a payment gateway and PCI-validated point-to-point encryption and tokenization, the firms said.
According to reports, the integration between Billtrust and CardConnect had already been tested among several B2B companies.
“Billtrust is constantly seeking new ways to strengthen data security for our customers,” said Mitchell Rose, senior vice president partner solutions at Billtrust. “The integration of CardConnect’s PCI-validated payment processing platform into our solution, backed by their patented tokenization technology, solves real problems for our clients and is a great addition to our offering.”
In January CardConnect’s encryption tool, Bolt P2PE, emerged from beta to safeguard card-present transactions.
“Many of our customers are challenged with the very time-consuming task of manually reconciling invoices,” added CardConnect Senior Vice President of Enterprise Sales Mark Passifione in another statement. “Through our partnership with Billtrust, we are pleased to offer a turnkey solution that makes the invoice presentment, payment and cash application process effortless and secure.”
Earlier this year Billtrust rolled out Virtual Card Capture in another move to facilitate invoice payments via card by automating the process by which suppliers can capture virtual card data to process a payment.
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