Commercial card issuer and payment processor Comdata is integrating its functionality into the invoice-to-pay platform Billtrust to enable joint customers to pay their vendors electronically.
The companies announced their partnership in a press release on Wednesday (June 12), noting that Comdata has joined the Billtrust Business Payments Network to enable its 30,000 corporate buyer customers to pay their vendors via the network. BPN rolled out last year as a platform that connects buyers, suppliers and financial institutions to facilitate electronic B2B payments. The solution includes a directory of all the B2B vendors participating in the network, as well as their preference for receiving payment.
"This alliance provides all suppliers accepting payments through BPN the ability to receive truly touchless transactions in their own preferred format from Comdata's massive base of business buyers," explained Billtrust VP and General Manager, Business Payments Network Nick Babinsky in a statement.
"We believe that partnering with Billtrust on BPN allows buyers and suppliers the opportunity to focus on the relationships that they have cultivated over years of doing business together," added Comdata Director of Product Strategy Jack Sevier in another statement. "As BPN ensures that payment for goods and services seamlessly aligns with companies' preferred processes, it's a win-win for all."
Billtrust CEO Flint Lane spoke with PYMNTS about the launch of the Business Payments Network last year, emphasizing the need for the B2B industry to address the last mile of electronic vendor payments.
"We are swimming in paper in 2018, because no one has solved that last-mile problem for the delivery of payments to the supplier,” he said at the time.
Earlier this year, Billtrust announced the acquisition of B2B eCommerce company Second Phase as part of the company's efforts to broaden its services in the order-to-cash process. Second Phase provides wholesale eCommerce solutions for distributors.