Today in B2B Payments: Payment-By-Invoice Enablement Tops Agenda

Today in B2B payments, NuovoPay and PaygOps team up to offer smartphone-based financing, while Neat Co. adds new features to its small business-focused bookkeeping platform. Plus, the steel industry is undergoing a digital transformation.

FinTech NuovoPay, B2B Software Firm PaygOps Debut Financing Via Smartphone

Smartphone-locking FinTech platform NuovoPay is partnering with B2B Software as a Service (SaaS) platform PaygOps to boost access for smartphone financing through digital technology procurement along with solar home equipment, according to a press release Thursday (May 5).

PaygOps connects energy and utility appliances and payment methods within an enterprise’s applications suite. It also allows distributors to manage their last-mile operations.

Last-mile distributors can now offer NuovoPay smartphone financing to their end users through this integration, complementing their existing processes with PaygOps to manage finances, sales and inventory.

41% of Businesses Plan to Enable Payment From Invoice

Forty-one percent of businesses will move to enable payments from invoices on their agenda, according to the “Payments Innovation Readiness Playbook,” a PYMNTS and Spreedly collaboration. Push payments and payments to digital wallets are likely to follow, with just under 41% and 40% of businesses, respectively, intending to implement those payment innovations.

More than one in three businesses plan to implement spend management, expense controls and rules-based decisioning to automate payment methods, while more than one in four are looking at automating receivables and payables, receiving real-time payments, straight-through processing, enabling businesses to choose payment, sending real-time payments and application programming interfaces (APIs).

PYMNTS research indicated that payments modernization has become a priority for many businesses because successful decision makers have learned to connect the dots between optimizing their enterprise’s resources and ensuring that consumer and B2B transactions flow unhindered by ill-suited technologies or poor user experience.

Marketplaces, BNPL Give ‘Analog’ Steel Industry a Shot at Optimized Pricing, Supply Chains

The steel industry is complex, global in scope and comprises all manner of offerings: flat steel, rolled steel, steel used in structures. There’s no end of manufacturers who need it, and inefficiencies are hallmarks of sourcing and paying for it.

“There are certain sectors that have a decent amount of stock available, and the pricing may not be all that volatile,” Shep Hickey, CEO of online platform Bryzos, told PYMNTS CEO Karen Webster. “Then there are other sectors that are in the midst of a supply shock, and it’s hard to find what you need.”

Add in the supply chain shocks that have dominated since the COVID-19 pandemic, and the landscape is ripe for a digital transformation.

Nukkleus Rebrands as Blockchain and Digital Payments Company

Nukkleus, which works on acquiring and scaling high-potential blockchain, digital and multi-asset businesses for retail and institutional markets, has debuted its new website and brand, which will put the firm’s subsidiary brands under the same suite of assets. Simultaneously, Nukkleus has proposed to combine with Brilliant Acquisition Corp., a special purpose acquisition company (SPAC).

The company’s goal is to develop blockchain technology for cross-border payments and digital assets.

Neat Co. Adds Features to Bookkeeping Platform for Small Business

The Neat Company, which develops bookkeeping automation and document management tools for small businesses, has upgraded its financial management platform, according to a company press release.

Neat’s new capabilities include more mobile features and a simplified creation and management of invoices, giving a central view of all bank accounts across financial institutions. It will also organize expenses and transactions, the press release said. Clients can also edit account names, add notes and keep up with vendors, customers and bookkeeping tasks.