ConnexPay Adds Variable-Rate Virtual Card to B2B Payment Capabilities

ConnexPay has launched a variable-rate virtual card designed to facilitate strategic supplier spend at pre-negotiated rates.

The new ConnexPay Flex offers clients a broad spectrum of rate categories when paying suppliers in the United States, the company said in a Tuesday (Feb. 13) press release.

“With ConnexPay Flex, our clients now have over 30 payment rate options for any unique supplier payment challenge, providing them with the maximum flexibility for driving supplier acceptance while also increasing profitability,” Bob Kaufman, founder and CEO of ConnexPay, said in the release.

This new dynamic payment capability joins the company’s suite of payment options called ConnexPay Exclusives, according to the release.

ConnexPay also offers an all-in-one platform for managing B2B payments, including both taking in sales and paying suppliers, the release said.

While the company is still focused on the travel and tourism space, the solutions it offers can be applied to a broad spectrum of corporate payment use cases, per the release.

“Over the past year, ConnexPay has more than doubled its customer base, expanded its global footprint, and continued to launch new products and features that transform the B2B payments space,” the press release said.

In another recent product launch, ConnexPay debuted a global travel card on Feb. 6, saying this new virtual card is designed to help the firm’s travel company clients boost payment acceptance and minimize or eliminate foreign exchange (FX) fees.

The global travel card, which is also part of the new ConnexPay Exclusives program, can eliminate cross-border and FX fees on international payments made to travel suppliers, provide a higher rebate than the user would otherwise receive when paying suppliers in other countries, and boost supplier acceptance.

In January, the firm partnered with Conferma Pay to enable travel businesses to issue virtual cards. By combining ConnexPay’s virtual card issuing engine and real-time funding processes with Conferma Pay’s virtual card ecosystem, this collaboration offers a comprehensive and secure all-in-one payments solution.

When announcing the partnership with Conferma Pay, Kaufman said: “Improving cash flow and paying suppliers in a fast and secure way boosts purchaser-supplier relationships and expedites business growth.”