Categories: B2B Payments

Billtrust Teams Up With CSI On B2B Payment Automation

Billtrust, an accounts receivable (AR) automation and B2B order-to-cash solution company, has announced that it’s partnered with Corporate Spending Innovations (CSI) and integrated it into Billtrust’s Business Payments Network (BPN), to help customers automate the delivery of payments to suppliers around the network, according to a release.

Also, CSI is going to provide BPN with access to different financial institutions that also operate on the platform. BPN is a supplier-driven platform that facilitates electronic payment delivery and allows both corporate buyers and financial clients to deliver their payments directly into a suppliers’ acceptance platform.

“BPN allows complex financial and payment data to seamlessly come together at scale while providing reconciliation to suppliers and buyers. Participating buyers and financial institutions can also facilitate payment automation with access to BPN’s supplier directory, a transparent listing of supplier payment preferences,” the release said.

Nick Babinsky, the vice president and general manager, Business Payments Network at Billtrust, said that he looks forward to a fortuitous partnership with CSI.

“We’ve long recognized CSI as an AP innovator that continually increases volume to suppliers in our network,” Babinsky said. “We’re thrilled to formally announce that we are partnering with CSI as they expand BPN supplier access to their corporate customers and financial institutions.”

BPN, which was founded in 2018, has been steadily expanding and growing suppliers and network partners. More than one million transactions have passed through the network, as well as invoices with a pay total of more than $275 billion.

“Seamlessly integrating with Billtrust’s Business Payments Network offers our customers more opportunities to deliver supplier payments and strengthen trade relationships,” said David Disque, President, CSI. “Billtrust is the premier provider of accounts receivable solutions and has revolutionized digital B2B payments with BPN, so I’m very pleased to add them to our growing list of strategic technology partners.”

CSI has a number of features for its payments platform, including “CSI Paysystems, CSI Travel, CSI Go, CSI Connect, CSI Invoice, global-fleet fuel cards, and white-label licensing for banks.”

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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