Today in B2B payments, Coast talks fleet card innovation, and CAARY embeds small business insurance from APOLLO. Plus, Züm Rails discusses mixing payment rails for B2B payments, Investec launches a business account service and Klasha eases cross-border funds acceptance.
From EFTs to Visa Direct, having a choice in how B2B payments are made is key to a better experience for businesses. Yet optimizing B2B transactions through a variety of payment rails and services isn’t just about how technology moves funds. Züm Rails Co-founder Miles Schwartz discusses how data and security must factor into the payment rail mix, too.
The banking and wealth management group Investec has launched its first day-to-day business banking account in what a Wednesday (July 14) Reuters article calls “a push to attract customers among South Africa’s more than 100,000 mid-sized firms.” The company said it is offering this account to firms that are at least three years old and see an annual turnover of 30 million rand, or $2.1 million. These firms might see themselves as “too small for a specialist lender like Investec” in a market dominated by South Africa’s four biggest banks, the Reuters report said.
Financial technology firm Klasha has rolled out a no-code method for B2B and B2C merchants, among others, to accept payments. The Klasha Payment Link lets clients in Africa pay international companies, which don’t need to have an app, website or any coding knowledge to accept those payments, according to a Wednesday (July 14) announcement. “We’re excited to launch this feature for offline and online businesses and sole traders alike to accept payments from Africa without having to worry about integration processes, writing code or even owning a website,” Klasha CEO Jess Anuna said in the announcement.