Today in B2B payments, European banks pull back spending, while WEX collaborates with MYOB. Plus, dLocal partners with Dinie, RepSpark partners with PGA and Citi accelerates its ISO 20022 adoption.
European Banks Lend Less, Fearing Bad Loans During Pandemic
Euro area banks have scaled back lending in order to shield against risk, a new European Central Bank (ECB) survey says. The banks’ continued reticence on lending reflects the uncertainty still present in the economy due to COVID-19, including various government lockdowns and spikes in case counts. There have also been concerns about borrowers’ creditworthiness in light of lockdowns.
WEX Teams With MYOB For Supplier Payments In Australia
In an effort to simplify B2B payments for Australia, FinTech service provider WEX is teaming with digital business management technology company MYOB. The tie-up provides WEX clients with access to MYOB’s business payment technology for vendor payments through WEX virtual credit cards, according to an announcement. Justin Cross, WEX’s director of business development and partnerships, EMEA and APAC, said in the announcement that the company’s corporate payments operation will continue working with brands such as MYOB to help with local business expansion and to “ensure payments are not an afterthought.”
dLocal Collaborates With Dinie On SMB eCommerce Financing
To let international merchants provide the option of installment payments to their clients in Brazil, cross-border payment firm dLocal is collaborating with FinTech services company Dinie, according to a Tuesday (Jan. 19) announcement. The collaboration between the two companies will provide more payment choices and purchasing power for small and medium-sized businesses (SMBs) at checkout, which ends up bolstering the basket sizes and conversion rate for merchants, the announcement stated.
RepSpark, PGA To Partner On B2B eCommerce For Virtual Shows
RepSpark will work with PGA Golf Exhibitions on B2B eCommerce solutions for companies participating in the PGA Merchandise Show virtual platform, the company announced in a Tuesday (Jan. 19) press release. The Merchandise Show is the world’s largest annual gathering of the golf industry, and in non-pandemic times, hosted almost 40,000 professionals of the golf industry to talk about new trends and technology.
Citi To Accelerate ISO 20022 Adoption Via Volante Partnership
Volante Technologies, which works in cloud payments and financial messaging, is working with Citi to expedite Citi’s adoption of the ISO 20022 financial messaging standard, according to a press release. Citi is set to be the first Volante customer to offer a unified approach to that migration around the world, the release stated.
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