Boost Launches Industry-First Payment Platform to Feature Dynamic Discounting for Commercial Cards
NEW YORK, Oct. 16, 2018 /PRNewswire/ -- Boost Payment Solutions, the leader in commercial card payment optimization, today announced the launch of Dynamic BoostSM – the first payment platform to apply rules-based, dynamic interchange pricing to commercial card payments. Dynamic Boost offers unlimited flexibility for commercial card stakeholders by introducing pricing constructs that are based on contractual arrangements among buyers, suppliers and card issuers.
Prior to Dynamic Boost, the cost of card acceptance was dictated entirely by rigid, fixed rates established by the card networks, so when buyers and suppliers wanted to exchange value via commercial card products, they were limited to pricing parameters that didn't necessarily fit their commercial relationship. As a result, the expansion of commercial card use and acceptance for accounts payable spend has been disappointing.
Dynamic Boost's pricing configurability can be tailored to transaction size, periodic volume levels, payment terms or other business rules established between trading partners.
Dynamic Boost is also fully integrated with Boost Intercept®, so all commercial card payments are automatically transformed into a passive, straight-through processed payment experience for suppliers.
Key benefits of Dynamic Boost:
- Simplifies pricing models for commercial card use and acceptance
- Expands card acceptance across historically resistant suppliers
- Encourages better payment behavior via time-based interchange adjudication
- Allows buyers to maximize rebates and working capital
- Allows suppliers to accurately budget the cost of card acceptance
"By reinventing pricing constructs for commercial cards, Dynamic Boost is solving long-held pain points associated with B2B card payments," said Dean M. Leavitt, founder and CEO, Boost. "Commercial cards are entering a new era and Dynamic Boost has reshaped the landscape by liberating buyers, suppliers, and the financial institutions that serve them from the inflexible pricing parameters of the past."
About Boost
As the leader in B2B electronic payments, Boost optimizes how commercial card payments are initiated, processed, received and reported. Boost's technical innovations have transformed commercial cards into a cost effective, scalable and secure alternative to traditional checks, wires and ACH. Boost features a global footprint that serves a broad spectrum of industries. Boost was founded in 2009, and is headquartered in New York, NY. Please visit us at www.boostb2b.com.
Media Contact:
Chrissy Pusz
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(917) 438-9179
SOURCE Boost Payment Solutions
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