B2B Payments

RBC Now Offering VersaPay AR Solutions To Corporates

Invoicing and accounts receivables company VersaPay has inked a partnership with Royal Bank of Canada.

Reports Thursday (July 6) said the Canadian bank will provide its business clients with access to VersaPay’s ARC solution, under the RBC brand, to provide integrated accounts receivables capabilities.

“RBC is always looking for new and innovative ways to help clients use digital platforms to manage and grow their businesses,” said the bank’s EVP, Business Financial Services Greg Grice in a statement. “The invoice-to-cash process is vital to the success of all businesses. Integrating this offering into RBC’s leading cash management solutions, our business clients now have another way to improve the customer experience and better manage their receivables and cash flow.”

“We are delighted to collaborate with RBC to deliver this new offering,” added VersaPay CEO Craig O’Neill. “With the bank’s breadth and depth of banking and cash management services, and an impressive roster of business customers, RBC is in an ideal position to expand the use of ARC. The RBC team has been a pleasure to work with as we integrated our systems and prepared our market launch.”

According to the bank, one of its corporate clients is already using the ARC solution. VersaPay will provide added support to RBC as it links more business customers to the tool, reports noted.

This year Royal Bank of Canada rolled out a new service for its consumer customers. The bank announced in March that it now allows customers to use Siri to transfer money through their checking accounts, an enhancement to its existing P2P money transfer services and a sign of continued focus on mobile banking, RBC said at the time.

“It’s our goal to continue to be part of the everyday mobile experiences of our clients by adding more convenient and seamless ways to send money and bank with RBC,” said Sean Amato-Gauci, executive VP, Digital, Payments and Cards, RBC, in a statement. “Building on the explosive growth of our free person-to-person payments products, we’re excited to provide the ability for our clients to now send free money transfers from their checking accounts using Siri.”

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