Finexio, a U.S.-based fintech that offers a comprehensive accounts payable payments-as-a-service solution, announced on Monday it has formed a new partnership with B2B order-to-cash solutions provider Billtrust to provide faster digital payments to its suppliers and support the continued growth of its supplier network.
According to Finexio, Billtrust’s Business Payments Network (BPN) bridges the world of B2B payments by connecting buyers and suppliers on one powerful platform. This partnership expands the coverage of suppliers that may be paid electronically through Finexio’s network.
“By joining BPN, Finexio now provides faster and more accurate payment and reconciliation services to better service its customers. Finexio has access to hundreds of high-value suppliers where Billtrust has accounts receivable integration. Suppliers in this network now have the ability to process Finexio’s virtual card payments, aiding in the expansion of card-enabled merchants that Finexio is able to pay.”
Speaking about the partnership, Ernest Rolfson, Founder and CEO of Finexio, stated:
“The expansion of our supplier network through this partnership with Billtrust enables us to better serve our customers as we continue to scale. We’re excited about Billtrust’s ability to reduce our efforts in making payments to their network of large and complex suppliers as part of our ongoing commitment to provide a complete suite of B2B payment services to our customers.”
Founded in 2015, Finexio claims it simplifies accounts payable payments for medium and large corporates by digitizing manual paper checks.
“Finexio’s intelligent business to business payment network identifies, delivers, and supports ten forms of payment, generating revenue and cost savings for Accounts Payable departments while offering complete transparency and control of the payment process.”