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E-invoicing, SCF & E-procurement

Visa, J.P. Morgan boost B2B payments with Billtrust's Business Payments Network

Thursday 1 August 2019 | 12:31 PM CET

Visa and payment management company Billtrust have announced that J.P. Morgan will use Billtrust’s Business Payments Network to deliver B2B payments.

The system will be used for J.P. Morgan commercial card clients. Participating clients will now be able to utilize BPN’s connected platform of suppliers to send and receive digital payments more efficiently and quickly. Since launching BPN, Billtrust has automated almost two billion dollars in virtual card payments for suppliers participating in BPN. Traditionally routed through email, automating these payments through BPN eliminate paper waste and over 55,000 hours of manual data entry, processing and invoice matching against suppliers’ outstanding invoices, according to the company.

Visa recently collaborated with Billtrust to launch BPN. The network also enables complex financial and payment data to come together at scale, while delivering reconciliation to suppliers and replenishing buyers’ credit lines. Billtrust automates credit decisioning and monitoring, invoice delivery, payment capture, cash application, and collections. Billtrust provides an integrated cloud-based solution set.

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