B2B Payments

PayCommerce Grows Cross-Border Capabilities

Cross-border payments network PayCommerce designs its services for international payments needs, and its latest venture aims to reduce global payments friction even further. To do so, the company said it’s working with Software AG’s Digital Business Platform.

In an announcement yesterday (Oct. 14), PayCommerce revealed that it will be using Software AG’s solution as a gateway that integrates PayCommerce’s payments network into a single platform.

[bctt tweet=”PayCommerce revealed that it will be using Software AG’s solution as a gateway.”]

In a statement, PayCommerce Founder and CEO Abdul Naushad explained the workings of the partnership further.

“Software AG provides us with a solid and secure integration platform from which to work,” Naushad said. “Most importantly, the platform provides capabilities for improving international B2B, B2C and C2B transactions from initiation to settlement processing, compliance screening, reconciliation and reporting.”

The executive added that the tie-up lets businesses streamline payment procedures, leading to cost reductions of up to 80 percent.

PayCommerce facilitates payments between 72 countries in more than 80 currencies, the companies said. The network can be integrated into the processes of more than 80 banks, corporations and regional payment networks through the Digital Business Platform, said Naushad.

The company added that it is the only open cross-border payments network that facilitates collections and disbursements through a single portal.

The partnership with Software AG is the latest in the German company’s cross-border ventures. This week, Software AG revealed the launch of its Digital Marketplace, an online platform that helps its financial institution and corporate customers leverage new business process models and other IT offerings and access innovative solutions to integrate into their existing digital platforms.

To check out what else is HOT in B2B, click here.


Latest Insights: 

The Which Apps Do They Want Study analyzes survey data collected from 1,045 American consumers to learn how they use merchant apps to enhance in-store shopping experiences, and their interest in downloading more in the future. Our research covered consumers’ usage of in-app features like loyalty and rewards offerings and in-store navigation, helping to assess how merchants can design apps to distinguish themselves from competitors.


To Top