B2B payments news: Visa, Mastercard, Amex, Veem
Today in B2B Payments: Visa Collaborates to Open Small Business Bank Data, while Mastercard drives commercial card adoption in the MEA region. Additionally, American Express is targeting social media for small businesses, Veem is launching a national B2B payment tool, and Billtrust is embracing machine learning.
Codat, the financial API provider, works with Visa offer more complete data on small and medium-sized enterprises (SMEs) for European banks, Codat announced on Wednesday, November 18. Press release. Visa will help Codat extend its unique API to help business data flow better between FinTechs, SMEs and other businesses in need. Banks and lenders will be able to access the partnership to achieve more holistic financial profiles in less time.
MasterCard team up with International Network, who works in digital commerce for the Middle East and Africa, to help drive the adoption of commercial payment services in this region, according to a press release. In the fourth quarter, the two companies aim to work with “business and corporate cards, travel cards, fleet cards and acquisition cards, among other corporate payment solutions” to help businesses of various sizes and industries to make cashless payments. The Mastercard suite of payment solutions aims to help businesses save time, reduce costs, and manage business expenses in a more streamlined manner.
As the holidays draw closer, American Express says research has shown promotions and social media engagement could be a big boost for this year Small Business Saturday event, according to a Press release. The American Express Shop Small Impact study found that 78 percent of businesses said a social media campaign helped boost sales, with small and medium-sized business (SMB) supports potentially being worth as much as 197 billion dollars for the Economy of American SMEs.
Global payments start-up Veem is launching a new B2B tool to simplify and automate domestic payments amid growing demand for online payment solutions, the company announced on Wednesday (November 18th). Press release. Co-founder and CEO of Veem Marwan Forzley said the new tool, Veem Check, “strengthens our domestic payment offering” because users can pay anyone in the US, even people who don’t have a Veem account.
New Jersey-based cash invoicing platform Billtrust has upgraded the machine learning (ML) capabilities of its B2B treasury application software, the company announcement Wednesday (November 18). “Business continuity means sustaining operations and becoming more efficient”, President of Billtrust Steve pinado said in the ad.