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Payments General

Lloyds Bank partners with Optal for B2B payments

Thursday 18 July 2019 | 01:46 PM CET

Optal, a compny focused on B2B transactions, has signed a new deal with Lloyds Bank, which will enable it to offer new services to its commercial banking clients.

Optal’s Invapay solution will allow customers and their suppliers to benefit from transparent and streamlined payments. The service aims to strip away the traditional barriers associated with suppliers having to accept card payments.

Invapay allows corporate buyers to use commercial cards to pay suppliers. It does this by converting commercial card transactions into cash to pay non-card accepting suppliers by electronic funds transfer (EFT).

This means suppliers don’t have to go through the time and expense of onboarding processes to receive card payments.

More: Link
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