Today in B2B payments: American Express Global Business Travel acquires Egencia, and Chaser explores the opportunity in tracking down late payments. Plus, VatPay discusses a new strategy to migrate businesses away from checks, Boost raises $22 million and Sherpa collaborates with Juniper on real-time B2B payments.
Paper checks are expensive, but when businesses see that the hard costs of electronic payment processing fees take a bite out of revenue, the soft costs of checks can be overlooked. VatPay CEO Kelvin Taku discusses why the B2B payments ecosystem needs to change its messaging strategy to incentivize ePayments adoption.
Sherpa Technologies and Juniper Payments are collaborating to provide real-time functionality from The Clearing House’s (TCH) real-time payments (RTP) network and make a corporate payments module for correspondents to provide to their financial institutions, among the first initiatives in their partnership, according to a Tuesday (May 4) announcement. “Through Sherpa’s connectivity to the RTP network, Juniper is able to offer a real-time B2B solution to respondent financial institutions,” Juniper Payments President and Chair Jorge Jimenez said in the announcement. “Enabling payment and cash management solutions for community financial institutions is a core competency for Juniper Payments.”
Boost Payment Solutions has closed a $22 million Series C funding round, the B2B payments optimization firm announced on Tuesday (May 4). Boost, which works with B2B payments players to improve commercial card use and acceptance, will use the funding to drive growth in a variety of industries, such as freight and logistics, real estate, healthcare, telecommunications and manufacturing. The funding round, which was led by Invictus Growth Partners, also included existing investors Mosaik Partners, INGWE Capital and North Atlantic Capital.
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