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Cybrid Adds B2B Payment Capabilities to Embedded Finance API Solutions

Cybrid, a provider of embedded finance application programming interface (API) solutions, has expanded its Fintech API platform to include business-to-business (B2B) payments.

This move is aimed at catering to the sophisticated requirements of modern businesses, the company said in a Thursday (Jan. 18) press release.

“Our expansion into B2B payments marks a significant stride in our mission to equip businesses with the most advanced financial tools available,” Cybrid CEO Avinash Chidambaram, said in the release.

The expansion builds upon the company’s business-to-consumer (B2C) payment offerings, according to the release. Those services encompass know your customer (KYC) identity verification processes, money transmission through wire and ACH transfers, virtual for-benefit-of (FBO) accounts for U.S. dollars connected to digital wallets, and integrated crypto onramp and offramp capabilities.

Cybrid’s platform now provides a comprehensive range of financial services tailored for B2B transactions, the release said. The B2B capabilities are integrated with a know your business (KYB) process.

One of the key advantages of Cybrid’s B2B payment capabilities is the ability to conduct real-time transactions with fast confirmations, per the release. This ensures that businesses can enjoy near-instant payment processing, leading to quicker access to funds and improved liquidity management.

Additionally, the platform boasts high transaction limits designed to handle large-sum payments, thereby simplifying the complexities often associated with high-value transactions, according to the release.

Apart from these benefits, Cybrid’s B2B payment solution offers rich remittance data, streamlining record-keeping for businesses and reducing reliance on paperwork for transaction reconciliation, the release said. This feature aids in maintaining accurate financial records and simplifies the overall payment process.

A noteworthy feature of Cybrid’s platform is the inclusion of a crypto onramp/offramp for USD Coin (USDC) and bitcoin (BTC), per the release. This integration of cryptocurrency payments adds versatility to the payment rails and aligns with the global trend towards digital currencies.

PYMNTS Intelligence has found that embedded finance is becoming the next phase in B2B payments. Businesses increasingly care about offering online payment methods, tools and channels in the B2B space that embedded finance can easily enable, according to the “Embedded Finance Tracker,” a PYMNTS Intelligence and Galileo Financial Technologies collaboration.