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Today in B2B Payments: B2B Service Providers Aim to Improve Shipping 

Today in B2B payments, shipping is in the spotlight as service providers discuss their solutions to different aspects of this supply chain challenge. X Delivery CEO Mark Lavelle suggested businesses should think of shipping as a “deal closer,” while TradeLens reported it has brought together more than 1,000 major players involved in the global supply chain. 

Shipping Isn’t Cost Center, It’s Deal Closer 

Businesses, especially small ones, have come to expect the free shipping that has become commonplace in consumer markets, particularly when it comes to low-ticket, lightweight, off-the-shelf products such as office supplies. And B2B sellers have started taking cues from the consumer market. X Delivery CEO Mark Lavelle told PYMNTS’ Karen Webster, “What the product is and how much it costs is important, but just as important is when I get it and how I get it.” 

Shipping DLT TradeLens Touts Q2 Integrations, but Few New Users 

In the time since IBM Blockchain and Maersk created the TradeLens in 2018, aiming to help players in every segment of the shipping industry work together, the pandemic has pushed digital transformation down the priority list for shipping lines, port operators, customs agencies, railroads and trucking firms. That isn’t to say the project hasn’t been a success by many measures, though — it has brought together more than 1,000 major entities involved in the global supply chain. 

Small Businesses Willing to Pay Premium to Eliminate AP/AR Hassles 

Small to mid-sized businesses (SMBs) encounter numerous pain points when making and receiving B2B payments. According to the “AP/AR Quick-Start Guide: Reducing B2B Payments Friction for SMBs,” a PYMNTS and Plastiq collaboration, SMB buyers and suppliers are fed up with inefficient and outdated accounts payable (AP) and accounts receivable (AR) platforms. Many are interested in using — and even paying for—an all-in-one solution. 

Fraud Fears Hold Back Real-Time B2B Payments 

Fraud remains first and foremost among the barriers to adoption of real-time payments (RTP) in the B2B space, according to “Accelerating the Time to Realized Revenue Playbook,” a Mastercard and PYMNTS collaboration. Yet the certitude of receiving funds on a date- or even an hour-specific basis may outweigh that and other obstacles to accelerating B2B payments through RTP. 

ShopX Shutdown Points to B2B Platform Pitfalls 

Like many FinTech companies, Indian eCommerce platform ShopX was once a high flyer. But it hasn’t been able to raise equity funding since April 2020, and now it has shut down and filed for bankruptcy, according to Indian officials. And it offers a cautionary tale for other B2B marketplaces. 

Pemo Adds Smart Cards to Spend Management Platform for UAE SMBs 

Pemo has added physical and virtual Visa payment cards to its all-in-one spend management solution for small to medium-sized businesses (SMBs) in the United Arab Emirates (UAE). Pemo Co-Founder and CEO Ayham Gorani said in a press release, “With the launch of Pemo cards, businesses now have a frictionless end-to-end solution that automatically categorizes employee expenses, captures receipts for every transaction and offers management teams complete visibility on corporate spending.” 

Small Business Financing FinTech Kapitus Adds $95M to Funding Capacity 

Small business financing FinTech Kapitus has increased its funding capacity by $95 million, bringing its total debt facilities to $360 million. Kapitus CEO Andrew Reiser said in a press release, “Today, we are poised and ready to help businesses through their next chapter, whatever stage of growth they might be in.” 

Hazeltree Secures $14M to Grow Treasury, Liquidity Management Tech 

Hazeltree has secured a $14 million strategic investment to grow its treasury and liquidity management technology for the alternative asset and investment management industries. Hazeltree CEO Tushar Amin said in a press release, “This investment will fuel Hazeltree’s growth through expanding customer success and support, scaling our commercial model and innovating across our product suite.” 

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About: The findings in PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed the responses from 9,904 consumers in Australia, Germany, the U.K. and the U.S. and showed strong demand for a single multifunctional super apps rather than using dozens of individuals ones.


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