Today in B2B payments, Conferma Pay strengthens its relationship with SAP Concur, and Codat secures backing from American Express and PayPal. Plus, Freshbooks collaborates on small business open banking technology, Hazeltree pairs up for corporate treasury tools and PNC joins CHIPS.
Conferma Pay Expands Partnership For Corporate Virtual Pay
Conferma Pay will now have an expanded role in the SAP Concur partnership, which will include providing virtual payment technology across all SAP travel and expense products, according to a press release emailed to PYMNTS. The new Conferma Pay with Concur integration means businesses using SAP Concur solutions will be able to access better tools for making and managing payments, the release stated.
Amex Ventures, PayPal Ventures Invest In SMB Data Firm Codat
American Express Ventures and PayPal Ventures have made “strategic investments” in business data FinTech startup Codat, which has also officially rolled out its U.S. operations. “We’re excited to welcome American Express Ventures and PayPal Ventures as investors to further our mission to make life easier for small businesses,” Codat Founder and CEO Peter Lord said in the announcement. “It’s clear that small businesses are the backbone of global economies, and in the next few years, we believe there will be a dramatic acceleration in the quality of financial products they are offered.”
FreshBooks Teams With Salt Edge For SMB Open Banking Tech
Accounting software company FreshBooks has teamed with open banking technology provider Salt Edge to help their expanding European Union customer base handle finance workflows in a simpler fashion. “We are excited to join hands with FreshBooks, having a similar vision for how cutting-edge open banking technology can be used to transform businesses and simplify key processes for clients…” Lisa Gutu, head of business development at Salt Edge, said in the announcement.
Hazeltree, Goldman Team On Corporate Treasury Management
Hazeltree, which works on integrated treasury management and portfolio finance solutions for investment managers, has announced a joint solution with Goldman Sachs to help streamline treasury management with integrated global payments and cross-border capabilities. The solution will work to reduce costs for treasurers managing cash and foreign exchange, according to the release, combining Hazeltree’s treasury management, security and payment workflow solutions with Goldman’s tech-forward solutions.
PNC Joins The Clearing House’s Network For Large-Scale Payments Processing
PNC Bank has joined The Clearing House’s CHIPS network to enable it to “clear and settle high-value and cross-border payments,” per a press release. “PNC is pleased to join CHIPS, providing our customers access to the preeminent high-value international and domestic wire-transfer system,” said Chris Ward, executive vice president and head of product and operations, PNC Treasury Management, in the release. “PNC’s Treasury Management platform continues to bring dynamic payment solutions to meet our clients’ needs.”
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