Quadient, and Flywire Corporation (Flywire) today announced a new strategic collaboration to automate and digitize business-to-business (B2B) payments globally. As a result of the partnership, Quadient’s cloud-based accounts receivable (AR) management and automation solution, YayPay by Quadient, will extend Flywire’s digital payment solutions to its global B2B clients.
As YayPay’s international footprint and customer base has grown, the need to provide seamless cross-border payments has increased. Flywire’s solution for B2B, which combines a next-gen payments platform, proprietary global payment network and vertical-specific software, will embed into the YayPay platform. In turn, Quadient’s customers are expected to benefit from flexible and dynamic payments solutions that enable businesses to accept and settle payments in more than 240 countries and territories and in more than 140 currencies.
YayPay users can use Flywire when transacting internationally and to pay using direct debit or electronic banking. They benefit from Flywire’s foreign exchange market (FX) management and currency exchange, automated reconciliation and local collection and settlement. Flywire also brings enhanced transparency for YayPay users, who can easily track when payments are coming in. For Flywire, the collaboration broadens the company’s reach into the strong B2B segment of the AR market.
“When the opportunity came up to partner with the YayPay by Quadient invoice and billing solution, this was a natural fit,” said Ryan Frere, executive vice president and general manager of B2B for Flywire. “Flywire is committed to driving operational efficiencies for business all around the world, and this partnership enables us to extend the reach of our solution. We’re thrilled to partner with the Quadient team.”
YayPay by Quadient is a software-as-a-service (SaaS) predictive and automated AR management solution. It is part of Quadient’s portfolio of solutions that is bringing together AR, accounts payable (AP), customer communications management (CCM), document automation and customer journey mapping (CJM) into an advanced cloud-based suite that offers companies the benefits of automation and intelligent communication. Quadient’s vision for its software solutions is driven by its recognition that AP, AR, CCM and CJM are evolving and converging, and a common suite of solutions simplifies the life of its customers.
Backed by a proprietary global payments network, next-gen payments platform and vertical-specific software, Flywire's solution for B2B enables businesses to automate their entire AR process, while also providing customers a modern payment experience. With features like tailored invoicing, settlement and reconciliation tools, flexible payment options, custom ERP integrations and more, Flywire enables businesses to achieve operational efficiencies and meet customer demand.
“This is a strategic partnership that brings two market-leading companies together, and Flywire’s incredible network and payment architecture was the obvious choice for YayPay as we continue to expand our international footprint,” said Anthony Venus, chief strategy and product officer, Accounts Receivable Automation, Quadient. “Integrating Quadient’s cloud suite with leading enterprise platforms and partnering with best-in-class technology providers like Flywire is a key aspect of our go-to-market approach.”