This collaboration, announced Tuesday (Aug. 19), has yielded Centerbase Payments an embedded payment processing solution for mid-sized law firms.
“With Centerbase Payments, powered by Stripe, we’re transforming how law firms handle one of their most essential functions: getting paid,” Michael Dunn, CEO of Centerbase, said in a news release. “By embedding Stripe’s best-in-class payment technology directly into our platform, we’re giving firms a faster, simpler and more secure way to manage payments—without ever leaving Centerbase.”
According to the release, the integration has allowed beta users to get paid up to 20% faster, doubling their cash flow, and doing away with manual reconciliation through automated accounts receivable workflows.
The tool lets firms offer payment options including credit card, debit or ACH directly from the invoice, with funds automatically applied to the correct matter, “and real-time visibility into the payment lifecycle is built in,” the release added.
The partnership comes as embedded payments continue to grow in popularity, with embedded B2B payments forecast to handle $16 trillion in transactions by the end of the decade.
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“That number is less a forecast than a flashing neon signal to corporate finance leaders,” PYMNTS wrote last month. “Once a niche integration, embedding payments directly into enterprise workflows has emerged as a strategic imperative for companies facing competitive, operational and technological pressures.”
Research from the latest PYMNTS Intelligence data in the July Accounts Payable Tracker® Series, “Embedded B2B Payments: The Next Frontier in AP Digitization,” shows that roadmap to capturing this value is increasingly tied to in platform-native integration, operational transformation and the potential for monetization. And the decision to adopt embedded B2B payments is not purely technological.
“It’s a strategic posture that touches customer and supplier experience, working capital, risk management and even talent allocation,” PYMNTS wrote.
Among finance executives evaluating accounts payable (AP) solutions, 62% say that enterprise resource planning (ERP) integration is the key factor.
“That single statistic reframes the entire embedded finance conversation,” PYMNTS wrote. “The message: payments tools cannot be an add-on to enterprise systems. They must live inside them.”
The research also found that 36% of executives say they fear being left behind if they don’t adopt embedded B2B payments. That’s a shift from past innovation cycles, where hesitation was often born out of perceived risks in new technology.
