Priority Partners with Century Bank on B2B Payment Solutions

Payments technology firm Priority Technology Holdings announced a partnership with full-service New Mexico and Texas community bank Century Bank that will give Century customers access to Priority’s CPX accounts payable (AP) solution, according to a Monday (April 11) joint press release.

“We are excited to partner with Century Bank to offer a seamless suite of B2B payment solutions to their customers and deliver the benefits of automation, revenue creation and greater treasury value,” said Stephen Tackett, executive vice president and head of the B2B division for Priority, in the company press release.

CPX eliminates manual processes and boosts how much revenue customers get from buyers through their virtual cards. The platform also speeds up payments and manages suppliers’ transaction costs.

“Companies are focused on optimizing their AP process and desire to partner with a community bank that is committed to the communities they both serve,” said Tyler Sisneros, SVP and director of treasury and digital banking for Century.

“Unfortunately, many community banks are technology challenged, and the payables optimization vision evangelized by larger FI’s precludes most companies due to cumbersome IT requirements of their payables tools,” he said. “We are proud of our partnership with Priority because it allows us to provide our commercial clients with a powerful yet user-friendly payment tool.”

Related: Priority Joins Mastercard Track Business Payment Service

In March, Priority joined the Mastercard Track Business Payment Service to improve its B2B payment solutions.

The Mastercard Track Business Payment Service “automates payments-related data exchange between buyers and suppliers,” per a press release, and “helps businesses increase simplicity, flexibility and efficiency” to find the best option to pay or get paid for every invoice across multiple payment rails.