Today in B2B payments, Wells Fargo and Bill.com have teamed up for small business payments technology, and TransferMate has secured more licenses for its cross-border payment solution. Plus, Ivalua is collaborating on supplier data management, Toyota is linking dealers to Billtrust software and Unit landed funding for its banking integration tools.
Bill.com and Wells Fargo are partnering on a new feature called Bill Manager to help small to medium-sized businesses (SMBs) access automation for the accounts payable (AP) and accounts receivable (AR) process, according to a press release emailed to PYMNTS. Bill Manager will integrate cloud-based processes from Bill.com into Wells Fargo’s digital banking service, the release stated, creating a paperless method for paying bills and offering “simplicity, visibility and control.” The Bill Manager service will aid companies in electronically capturing incoming bills and invoices, which are digitally routed through a workflow for simplistic review and approval, according to the release.
TransferMate of Ireland, which deals with cross-border B2B payments technology, announced on Tuesday (Dec. 8) that it has secured its first two payments licenses in South America as part of its expansion campaign. The regulatory approvals in Brazil and Chile follow TransferMate’s success in landing a Mexico license in September. “TransferMate is one step closer to its strategic plan to create the widest settlement network in our industry,” Sinead Fitzmaurice, CEO of TransferMate, said in a press release.
Cloud spend management company Ivalua and supplier data company Tealbook Inc. have joined forces to offer a smooth experience in connecting Ivalua’s source-to-pay infrastructure with Tealbook’s vendor intelligence infrastructure. The relationship lets clients locate new vendors and find detailed, accurate data, such as certifications, compliance and diversity status, among other kinds of information, according to a Tuesday (Dec. 8) announcement. “With organizations increasingly dependent on their suppliers, having easy access to accurate, actionable supplier information is critical to ensuring resilience in today’s crisis and restoring growth beyond,” Ivalua CEO David Khuat-Duy said in the announcement.
Toyota Material Handling (TMH) has teamed with Billtrust to provide 230 dealers with access to the latter firm’s invoicing, collections, payments and cash application software in addition to the Business Payments Network, according to a Tuesday (Dec. 8) announcement. TMH Director of Dealer Development Anne Ewing said in the announcement that it is pivotal for the company’s dealers to harness the present day’s virtual and automated payment offerings. “This partnership provides them with world-class accounts receivable and B2B payments capabilities, enabling them to expand their businesses by maximizing efficiencies, improving cash flow and getting paid faster,” Ewing said.
Unit has raised $18.6 million in a funding round to go toward the startup’s goal of enabling third parties to integrate banking services through an application programming interface (API), according to a report from TechCrunch. Unit’s services encompass features like payment cards, checking accounts, cash advances and money transfers, letting companies integrate them into their own businesses, the report stated. The $18.6 million will go toward continuing to add features, hire more employees and grow the company’s user base.