B2B Payments

Billtrust Adds Tools To Enhance Payments Automation, Transparency

Accounts Payable

Billtrust, which works with B2B order-to-cash solutions and accounts receivable automation, has expanded its tools to boost email billing, expand digital payments and accelerate cash flow, according to a press release.

The company’s new solutions will help to aid remote workers during the pandemic, according to the release.

With the Pay on Email feature, Billtrust said in the release that it hopes to aid businesses with invoicing, as sometimes an invoice will be forgotten. The new feature will allow suppliers to request an electronic payment and not have to force buyers to go through a portal to another site and maintain credentials. The feature is meant to make sure the remittance is associated automatically with the payment, even for lump sum transactions.

Billtrust Founder and CEO Flint Lane said the idea behind Pay on Email is to do away with the necessity of paper checks and create more secure ways of knowing the status of a payment.

“Pay on Email includes a convenient smart payment link inside of each email so that customers can easily schedule a payment that is returned with full remittance detail, creating a 360-degree digital payments experience,” he said, according to the release.

The company has also rolled out new features like the Hosted Payments Page, a tool that lets suppliers allow customers to self-serve multiple invoices and pay 24/7 through a link from an email signature, the release states. And, the new Virtual Terminal feature lets call centers capture payments with guaranteed payment card industry (PCI) compliance.

All of it, according to Billtrust, will aid companies during the pandemic in need of speedy payments to offset the challenges of working remotely.

Billtrust’s Business Payments Network (BPN) also works to help digital payments acceptance by offering “consistent data, speed and security” for all sides of the payment, with transparency of the relevant data involved. The BPN offers a supplier directory with details on supplier preferences, as well.

Recently, Billtrust also worked on bolstering its accounts payable (AP) integrations, PYMNTS reported, offering connectivity to more than 100 AP portals to speed payments along by removing some of the manual work involved.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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