Transcard, a payment technology solution for financial institutions, Fintechs, and businesses, recenlty announced its partnership with Paya (PAYA), an integrated payments and commerce solution provider. Through the integration of Transcard’s technology and banking infrastructure, Paya will substantially expand its B2B commerce solution suite, adding a best-in-class, fully integrated accounts payable (AP) module and supplier network.
This new partnership will enable Paya’s customers to seamlessly send payments, coupled with rich data, to their suppliers via ACH and virtual cards, reducing the back-office burden caused by paper checks. Further, by offering comprehensive AP automation and payments combined with its leading accounts receivable (AR) and cash application capabilities, Paya becomes a “one-stop-shop” for payments, workflow, and working capital management capabilities that can be seamlessly integrated into CRM and accounting software used by sophisticated B2B merchants. The integrated AR and AP solutions will be offered through a single API and a single portal, enabling businesses to interact with their customers and vendors in a simplified and efficient manner, while providing scale and operational efficiency to the back-office.
“We are incredibly excited to offer Transcard’s market-leading AP automation capabilities to both our large existing AR customer base and software partners, as well as prospective partners serving our core verticals,” said Ben Weiner, Paya’s Chief Strategy Officer. “With a best-in-class, fully-integrated AR/AP solution, and with Paya’s dedicated focus on partner enablement, Paya continues to strengthen its value proposition to software partners and their end-customers by offering differentiated commerce solutions.”
“We are thrilled to partner with Paya to extend our technology to their substantial distribution network,” said Transcard CEO Greg Bloh. “Paya’s reputation for dynamic AR solutions, deep knowledge of the integrated payments space, and leadership across B2B commerce serve as an important endorsement of Transcard and the value we deliver.”