The Syncada B2B payment and invoice processing network, a joint venture of electronic payments network operator Visa and financial services provider US Bank, allows corporations and governments to process and track invoices, make and receive payments and have payables or receivables financed through local and global financial institutions.
Under the agreement, Commerce Bank is set to leverage Syncada in order to help customers replace paper-based B2B processes with automated invoice processing and payment.
The Syncada network specializes in processing invoices, making payments and facilitating the financing of payables or receivables through a network of financial institutions. It removes paper from invoicing and payment processes by converting all invoices into electronic data and routing those invoices through an electronic workflow.
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