Priority has joined BPN to offer merchants with technology and support to streamline reconciliation of commercial payments captured through the platform.
The collaboration will allow Priority to extend BPN’s capability further to serve merchants expecting to secure touchless electronic payments remitted via accounts payable (A/P) platforms.
Merchants securing payments through BPN via Priority can decrease costs and improve efficiencies by receiving automated payments, which post straight through to their accounting system or preferred ERP.
Billtrust BPN general manager and vice president Nick Babinsky said: “We’ve long admired Priority for the work they’ve done to enable merchants to benefit from the acceptance of new forms of payment, such as virtual card.
“As like-minded FinTechs focused on converting paper check to digital forms of commerce, we are well-positioned to drive even greater value to merchants and banks as partners through BPN.”
BPN, which was introduced at the end of 2018, streamlines the delivery of electronic B2B payments to businesses.
The platform allows financial institutions and A/P platforms to deliver digital payments directly to merchants participating in the network and supports acquirers and accounts receivable (A/R) providers to acquire transaction volume via the network on behalf of merchants.
BPN will also enable complex financial and payment data to seamlessly integrate at scale while delivering streamlined reconciliation to suppliers and buyers.
Priority Commercial Payments president Cindy O’Neill said: “As one of the fastest growing payments companies in the U.S., we are continuously innovating best-in-class solutions that meet the unique and evolving needs of businesses.”
“We are excited to partner with an industry leader like Billtrust, to offer new tools to the BPN customer base, further enabling seamless acceptance of digital payments for all merchants.”
Billtrust enhances cash flow by automating credit decisioning and monitoring, invoice delivery, payment capture, cash application, and collections, while Priority Commercial Payments offers an integrated solution for automating commercial accounts payable and a full suite of targeted supplier acceptance solutions.
