LAWRENCEVILLE, N.J., June 12, 2019 /PRNewswire/ -- As more businesses turn to digital payments to streamline efficiencies and reduce costs related to the invoice-to-cash process, Billtrust today announced that leading B2B payments processor and commercial card issuer, Comdata, has joined Business Payments Network (BPN), enabling their 30,000 buyer customers to send payments to suppliers on BPN.
With this new BPN alliance relationship, Comdata -- the largest commercial Mastercard issuer in North America, responsible for paying more than $55 Billion to 800,000 suppliers on behalf of its 30,000 buyer customers -- gives buyers the ability to automate electronic payments to many suppliers through one network. By doing so, buyers are able to reduce costs, delays, and inefficiencies, promote payment transparency, and meet the unique needs and preferences of their suppliers.
"We're thrilled to have Comdata join BPN as we continue to see an extremely positive response to the platform," said Nick Babinsky, Vice President & General Manager, Business Payments Network at Billtrust. "This alliance provides all Suppliers accepting payments through BPN the ability to receive truly touchless transactions in their own preferred format from Comdata's massive base of business buyers."
"We believe that partnering with Billtrust on BPN allows buyers and suppliers the opportunity to focus on the relationships that they have cultivated over years of doing business together," said Jack Sevier, Director of Product Strategy at Comdata. "As BPN ensures that payment for goods and services seamlessly aligns with companies' preferred processes, it's a win-win for all."
Launched late last year, BPN is designed to address current industry challenges by:
- Publishing a directory that contains a full view of participating suppliers and their payment acceptance preferences
- Providing financial institutions and corporate buyers with ability to deliver digital payments directly to the suppliers' acceptance platforms
- Offering acquirers and accounts receivable providers the opportunity to accept payments directly from payables platforms
- Enabling complex financial and payment data to seamlessly come together at scale while delivering streamlined reconciliation to suppliers and buyers
For further information about BPN, visit paywithbpn.com.
Billtrust accelerates cash flow by automating credit decisioning and monitoring, invoice delivery, payment capture, cash application, and collections. Billtrust customers improve operational efficiency across the credit-to-cash spectrum via a flexible and integrated cloud-based solution set. Finance executives and A/R specialists love and recommend Billtrust for the remarkable cost savings, ease-of-use, process efficiency, and improved customer satisfaction rates. For more information, visit, www.Billtrust.com.
Comdata Inc., a FLEETCOR company, is a leading provider of innovative payment and operating technology that drives actionable insights from spending data, builds enhanced controls and positively impacts its clients' bottom lines. The company partners with more than 30,000 businesses to better manage $55B in annual fleet, corporate purchasing, payroll and healthcare spending, making it one of the largest fuel card issuers and the second largest commercial MasterCard provider in the United States and Canada. Founded in 1969 and headquartered in Brentwood, Tennessee, Comdata employs more than 1,300 professionals across North America. To learn more about Comdata, Inc., visit www.comdata.com.