Commercial card payment and acceptance solution provider Boost Payment Solutions is expanding geographically.
A press release Wednesday (Sept. 4) said Boost Payment Solutions is expanding its commercial cards network to new regions around the world, a move the company said would strengthen its international acquirer relationships and broaden the reach of its straight-through processing (STP) solution, Boost Intercept.
According to Boost, its launch in Singapore and Sweden brings the total number of regions in which the company operates to nearly 30.
Boost Intercept focuses on optimizing and reducing friction in commercial card acceptance for B2B suppliers. The tool negates the need for vendors to manually extract commercial card data from emails sent by their corporate customers. Its global expansion, Boost said, allows the company to offer one-day on-boarding for buyers and suppliers to begin transacting with commercial cards.
Earlier this year, Boost announced $12 million in new funding led by Masaik Partners and North Atlantic Capital. The Series B funding was a mix of venture capital and equity debt funding, the company said in April, noting that it planned to deploy the cash towards international expansion.
Boost is also focusing on certain industries, pointing to the healthcare, freight, logistics, transportation, real estate, media, telecom and other sectors.
“As the only FinTech acquirer exclusively focused on B2B payments, Boost is uniquely positioned to transform how businesses pay each other around the globe,” said Boost Founder and CEO Dean M. Leavitt in a statement at the time.
Soon after, Boost's Leavitt spoke with Karen Webster about the biggest points of friction in commercial card acceptance, pointing to the link between the cost of acceptance, and willingness to accept cards.
Enabling commercial card transactions to “essentially operate as a domestic transaction” is key to promoting commercial card acceptance, he said.