Conferma Pay has partnered with ConnexPay to allow businesses to simplify their payments processes by issuing virtual cards for improved cash flow management.
The partnership brings together Conferma Pay’s leading virtual card ecosystem and ConnexPay’s world-class virtual card issuing engine and real-time funding processes to create a seamless and secure all-in-one payments experience.
The new solution is ideal for businesses with a high traffic of both incoming and outgoing payments, and that are being held back by cash-flow issues. ConnexPay’s multifunctional platform allows businesses to gain immediate access to incoming customer payments, which they can then use in real time to fund ConnexPay virtual cards through the Conferma Pay platform to pay suppliers. This eliminates the waiting for settlement and funds to clear, as well as prefunding requirements — a process that can take days or weeks, and something many companies are unable to do.
ConnexPay’s Intelligent Purchases Routing technology automatically issues the type of card that will provide the maximum rebate, meaning businesses increase revenue share on every payment — improving both cash flow and growth. The integrated fraud prevention and analytics suite means users also have a greater control and overview of their live finances.
Jason Lalor, CEO at Conferma Pay, said: “The partnership with ConnexPay is another step towards simplifying global payments process for businesses globally. Our end goal is to make it easier to do business. By managing all your payments through virtual cards all on one platform, it’s much easier to connect and do business at a global scale.”
Bob Kaufman, Founder and CEO at ConnexPay, said: “By partnering with Conferma Pay, a company that shares our customer-first approach, we are continuing to eliminate payments pain points for businesses across the travel sector. Improving cash flow and paying suppliers in a fast and secure way boosts purchaser-supplier relationships and expedites business growth.”