Cross-border electronic payments firm PPRO and treasury management company HighRadius are teaming up to enable B2B suppliers to more easily accept a range of payment methods.
In a press release on Tuesday (May 14), the companies announced their collaboration, which will combine HighRadius’ Integrated Receivables platform with U.K.-based PPRO’s local payment methods, enabling B2B businesses that use HighRadius’ accounts receivable solution to accept more forms of payment across geographies.
Their collaboration will first go live across the European Union and enable acceptance of Entercash, Giropay, iDEAL, P24, Sofort, Trustly, SEPA and Bancontact. Each of these are “non-traditional local payment methods,” the companies explained, and enabling supplier acceptance can ease friction on both the accounts receivable and accounts payable side of B2B transactions.
“HighRadius has developed a great range of B2B solutions, and we are proud to be able to provide their merchants with local payment connections from around the world,” said PPRO Vice President of Partner Management Steve Villegas in a statement. “Together, we will offer a unique value proposition to a market that continues to grow and is looking for innovation from its business partners.”
“As part of our global expansion and offering of our Integrated Receivables platform, we are embracing newer payment methods as they are becoming more relevant to the B2B world,” said HighRadius Chief Product Officer Sayid Shabeer in another statement. “We believe with PPRO, we will be able to provide a variety of local payment methods to our clients and keep bringing new efficiencies to transactions.”
Its partnership with PPRO follows HighRadius’ earlier launch of its artificial intelligence-powered cash forecasting solution, connecting corporate treasurers with real-time forecasting capabilities.
PPRO, meanwhile, secured a strategic investment from PayPal, Citi Ventures and HPE Growth Capital. While the company declined to reveal how much it raised, it said in an announcement at the time that it would focus on international growth and expansion of its alternative payments-acquiring business.