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