Today in B2B payments, business payments are going increasingly digital, and more than three-quarters of small and medium-sized businesses (SMBs) are better at digital payments than they were pre-pandemic. Plus, VertoFX and ClearBank partner on streamlined cross-border payments for SMBs and Boatzon launches eMarketplace for vessels, parts and more nautical must-haves.
VertoFX Teams With ClearBank for Enhanced SMB Cross-Border Payments
Business-to-business payments firm VertoFX has teamed up with cloud-based clearing company ClearBank to enhance cross-border payments to underserved businesses in Europe.
The partnership will bring multi-currency bank accounts and FX solutions to U.K. and European SMBs to knock down barriers to cross-border payments and enables Verto users to accept and send payments from one platform.
Visa Panel: Business Payments Go Digital, Invisible to Simplify Complex Transactions
In a recent PYMNTS TV podcast, three payments professionals — Sightline Payments Co-CEO Omer Sattar, Car IQ CEO Sterling Pratz and Fifth Third Bank Head of Commercial Payments and Treasury Management Bridgit Chayt — told Gloria Colgan, senior vice president, global product at Visa, that digitized B2B commerce helps companies think differently about cash collections, loyalty programs and the consumer experience.
The panelists told Colgan the COVID-19 pandemic has made digitization a much higher priority across the business landscape as they reinvented themselves, reimagined their operations and improved how they pay and get paid in the hope of surviving and thriving in the economic downturn.
Boatzon Debuts eMarketplace for Boats, Marine Products
Online boat and marine retailer Boatzon is launching a direct marketplace for consumers to buy boats and other marine products, featuring ways for customers to browse, finance, insure, purchase and schedule delivery of the products they order.
Boatzon, which offers real-time financing and insurance quotes, also lets users sell any vessels, engines, trailers and related marine products at no charge. There are more than 200 dealers on the platform.
76% of SMBs Say Pandemic Caused Them to Enhance Their Digital Payments Capabilities
More than three-quarters (76%) of SMBs say the COVID-19 pandemic has encouraged them to improve their digital payments capabilities, according to Enabling B2B Payments For The Virtual Workforce, a recent PYMNTS and ConfermaPay collaboration.
SMBs are using digital spend management tools — from cloud-based spend management platforms to virtual cards — to streamline their payments operations and meet the needs of their workforces across the country and around the world.
