Today in B2B: Limepay Debuts BNPL Capabilities; Wells Fargo Helps SMBs

Wells Fargo, OCC, regulations

Today in B2B payments, Limepay rolls out a buy now, pay later (BNPL) tool, while Wells Fargo debuts a financial assistance portal for small- to medium-sized businesses (SMBs). Plus, checks are still popular forms of payment in the wholesale space, and cryptocurrency and blockchain can help chief financial officers (CFOs) transform their businesses.

Payments Platform Limepay Unveils BNPL Tool

Australian payments platform Limepay has launched STACK, a solution to offer businesses new ways to pay, including BNPL. STACK is an all-in-one payments platform that gives businesses and their customers an easier way of making, receiving and processing payments. It allows merchants to get paid up front, while businesses can use it to sell online, in person, through their websites or over the phone while keeping customers within their ecosystem.

Wells Fargo Debuts Small Business Financial-Assistance Portal

Wells Fargo has announced the launch of what it is calling its “Small Business Resource Navigator.” The service will let SMB owners complete brief questionnaires online and then connect with appropriate community development financial institutions (CDFIs). Since 2015, Wells Fargo has provided “more than $500 million in philanthropic grants and investments in CDFIs that help underserved small businesses.”

Ability to Accept Checks Remains Critical for Distributors

Checks still represent a thriving percentage of payments in the wholesale space, so it is difficult for companies to avoid legacy payment methods entirely, as reported in “The Treasurer’s Guide to AR Payment Optimization,” a PYMNTS and CheckAlt collaboration. Developing ways for payments to run smoothly on both digital and manual channels will grant distributors and their clients key advantages as supply chain payment needs evolve.

For CFOs, Crypto and Blockchain Present Opportunities to Transform Business

When Gary A. Vecchiarelli, chief financial officer (CFO) at CleanSpark, joined the sustainable bitcoin mining and energy technology company in December after 20 years in finance and accounting, some people pointed out that he didn’t have a background in cryptocurrency. At middle-market companies — companies that are moving quickly — leaders roll up their sleeves, work closely with operations and understand how business decisions are affecting the top and bottom lines, Vecchiarelli said.