Technology integration accelerates REPAY’s virtual credit card adoption, enabling B2B customers to easily automate electronic payments to thousands of suppliers on Billtrust’s Business Payments Network
ATLANTA–(BUSINESS WIRE)–Jan. 20, 2021– Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced a technology integration with Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated B2B payments leader. Through REPAY’s participation in Billtrust’s Business Payments Network (BPN), REPAY’s corporate customers will instantly gain the ability to automate electronic payments to Billtrust’s vast network of suppliers, distributors and vendors – both accelerating and simplifying the payment process, while also further scaling adoption of virtual credit cards.
Traditionally, business buyers must work with each supplier individually to collect, verify, and securely store bank data in order to send payments electronically. REPAY’S B2B offerings, which include those from recent acquisitions, cPayPlus and CPS Payment Services, help automate those connections for tens of thousands of vendor relationships. The integration with Billtrust will expand REPAY’s reach to several thousand additional suppliers on the BPN, immediately streamlining the payments process for both buyers and their suppliers and enabling payments to be sent in the companies’ preferred formats, including virtual credit cards.
“Our goal is always to help our customers simplify and optimize their vendor payments by automating payments through a single interface. We believe our partnership with Billtrust will significantly bolster the adoption of electronic payments to suppliers who participate in the BPN,” said Darin Horrocks, Senior Vice President, B2B, at REPAY.
“The service and supplier industry has seen an acceleration in adoption and preference of digital payments to streamline efficiencies and reduce costs related to the invoice-to-cash process,” said Nick Babinsky, Senior Vice President and General Manager, Business Payments Network at Billtrust. “Considering REPAY’s powerful payment automation platform and virtual card capabilities, this partnership was a natural fit. Their B2B customers will now be able to instantly leverage the extensive and continually growing Billtrust network of suppliers.”
Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.
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Source: Repay Holdings Corporation