Today in B2B: Independent Contractors Want Their Wages Sooner; Visa Partners With Tribal for Latam Expansion

Today in B2B payments, 90% of independent contractors want to be paid daily, on-demand or at least weekly, while Visa’s partnership with Tribal means increased service for Latin American and Caribbean customers. Plus, 4thWave rolls out a B2B platform in the United Arab Emirates, and IndiaMART makes another acquisition to expand its capabilities.

45% of Independent Contractors Want to Be Paid Daily or on Demand

Forty-five percent of independent contractors say they would like to be paid daily or on demand, and another 45% would like to be paid at least weekly, according to the “Expanding Payments Choice Playbook,” a PYMNTS and Onbe collaboration. This growing demand has been accompanied by innovations in how workers are paid, from the use of Visa Direct and Mastercard Send by payroll departments to the increased number of vendors offering earned wage access.

B2B Financing Firm Tribal Forms Partnership With Visa

Visa has partnered with B2B financing firm Tribal to expand its services for small- to medium-sized businesses (SMBs) in the Caribbean and Latin America, focusing on expanding credit lines, improving card distribution and enhancing safety and encryption measures. Tribal offers credit cards and payment options to SMBs across Latin America. The company’s platform lets SMBs make payments to employees, suppliers or merchants — online or in-store. Tribal also offers a one-stop shop where companies can manage their expenses, integrate with their enterprise resource planning (ERP) systems and move information.

4thWave Launches UAE Capital Financing/B2B Payment Tool

Canadian FinTech 4thWave has unveiled an integrated working capital financing and B2B payment solution in the United Arab Emirates (UAE) as part of a partnership with Mastercard Track Business Payment Service. The collaboration lets 4thWave Inc. offer flexible working capital programs to businesses across the region and addresses “the fundamental challenges of costs and inefficiencies currently affecting the B2B payments ecosystem.” Buyers get early payment discounts and suppliers get their payments without any manual processes.

IndiaMART Purchases Stake in Realbooks

Indian B2B marketplace IndiaMART will invest $1.8 million in cloud-based accounting software platform Realbooks, giving it 26.01% of the company that lets businesses create customized invoices, attach files to vouchers, and manage their inventory and allows them to manage multiple business units on one dashboard. Anurag Mohta, CEO of Realbooks, said his company helps businesses that have offices in multiple cities, working in sectors such as logistics, auto sales and eCommerce.