Today in B2B payments, BNP Paribas launches a solution to enhance corporate transaction visibility, while Spence Labs launches a B2B payments solution for the legal cannabis market. Plus, Arch Insurance strengthens the payment experience of business travel insurance, Thrive plans a new small business banking solution, and banking experts predict the future of central bank digital currencies (CBDCs).
BNP Paribas Gives Corporate Customers New Transaction Visibility
European banking powerhouse BNP Paribas is giving its corporate clients a new way to provide beneficiaries in international financial transactions real-time information about the payments’ status. The service, called BENEtracker, operates with BNP Paribas’ Metroline over the SWIFT network.
FinTech Spence Labs Adds Marijuana B2B Payment Platform
In a sign of how far marijuana sales have come out of the shadows, Chicago FinTech Spence Labs is offering new products targeting the sector. One is a payments platform the company is offering called “seed to sale.” The other is a B2B payments platform called “Enjoy Now, Pay Later.”
Arch Insurance Streamlines Business Travel Insurance Pricing, Payment Experience
Arch Insurance has rolled out a new program allowing brokers to quickly price and purchase business travel account policies for U.S. companies with up to 250 business travelers, according to a press release. The program, called Arch BTAExpress, will utilize an underwriting and technology experience that will let users access simple designs, pricing and binding of BTA policies, with quotes usually delivered almost instantly.
Thrive to Debut New SMB Banking Solution
Thrive is almost ready to launch a new small business banking account for Australian small- to mid-size businesses (SMBs) that aims to help make banking and accounting easier, according to a report from AltFi. CEO Michael Nuciforo described the service as a “CFO in your pocket.”
World’s Central Banks Moving Toward Digital Currencies
The world’s central banks are actively working on implementing digital currencies as the use of physical cash wanes, according to banking experts. A recent survey by the Bank of International Settlements (BIS) showed that 86 percent of the 65 central banks surveyed said they were at least in the early stages of developing a digital currency, with 15 percent moving toward pilot programs, according to CNBC.
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