Finexio, Payscout Join AP, AR Payment Services

Accounts payable solution provider Finexio is collaborating with payment processing firm Payscout to enhance B2B payments services.

In a press release Wednesday (Aug. 14) Finexio said it will combine its B2B supplier network with Payscout payment processing services and financial institution partner network, joining accounts payable (AP) payments with accounts receivable (AR) payment processing for joint customers.

“This collaboration combines the best in global AR payments processing and AP payments execution capabilities for medium, large and enterprise customers,” said Finexio CEO Ernest Rolfson in a statement. “Payscout is a company that understands the importance of providing the best service possible, shares our customer-first mentality and brings an entrepreneurial approach to solving customer needs.”

In another statement, Payscout Co-Founder and President Manpreet Singh said that collaborating with Finexio was a “logical step” for he company to expand its corporate payment services.

“We are aligned in our efforts to deliver payments innovation and customer happiness, so Payscout and Finexio are a perfect fit to maximize efficiency and drive meaningful business solutions,” he said.

Earlier this year Finexio enhanced its existing partnership with Mastercard, allowing Finexio users to pay suppliers with Mastercard virtual cards. That collaboration, Finexio said at the time, continued the company’s efforts to migrate business payers away from paper checks. Last year Finexio debuted CredX, a solution that enables businesses to pay invoices via commercial credit card while optimizing payment acceptance for the supplier, even if they don’t accept cards.

“For us, it’s all about creating alternatives to printing and mailing checks by making it even easier to adopt electronic payments,” Finexio CEO Rolfson said in a statement at the time.

Payscout, meanwhile, announced a partnership only weeks ago with UnionPay International, connecting merchants to a streamlined on-boarding process to accelerate processing of UnionPay transactions using Payscout’s API technology.