B2B Payments

CSI globalVCard Incubator Calls For More B2B Payments Innovation

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CSI Kick Start, a FinTech incubator operated by corporate payments company CSI globalVCard, said it has officially kicked off its second year of searching out B2B payments innovators.

The company said Thursday (Jan. 12) that the application process for its incubator is now open, with CSI Kick Start looking for companies innovating in the areas of virtual cards, ACH, foreign exchange and other B2B payments issues, like fraud and digitization.

It marks the incubator’s quest for a second round of startups to support; its first round included Yoke Payments, which won the PYMNTS.com Best POS Innovation award last year, as well as Spend Secure LLC, which offers mobile payments, accounts payable and travel expense management solutions.

“We are extremely proud of these young entrepreneurs and their business growth,” said CSI Kick Start CEO and President Keith Stone in a statement. “Much of this success can be attributed to their passion, dedication and willingness to learn from our experiences and the advice we share. We genuinely care about their long-term success, which is what really sets our investment model apart from most other venture capital funding models.”

CSI Kick Start offers a mentorship program, as well as an investment round starting at $500,000, to startups accepted into the incubator.

Last year CSI globalVCard announced plans to expand its global partnership initiative and ramp up its staff count as it plans to strengthen its focus on corporate FX and other B2B payments needs. The firm also introduced new cross-border corporate payment solutions in 2016, with capabilities to transact in more than 140 currencies.

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LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

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