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Billtrust , which works in accounts receivable automation and integrated B2B payments, has completed a special purpose acquisition company (SPAC) merger with South Mountain Merger Corp. Billtrust works to provide cloud-based software and integrated payment solutions to help streamline and automate B2B commerce.
This week's look at the latest in partnerships finds players in the SMB financial services landscape embracing a range of avenues to collaboration — including mergers and acquisitions (M&A) — to connect SMBs to financing, digital banking services and more. Lloyds Pilots Satago Technology.
Today in B2B Payments, commercial payments technology firm FLEETCOR reveals $1 billion plans for M&A activity. FLEETCOR Looks To Invest $1B Despite Pandemic M&A Slowdown. FLEETCOR is looking to invest $1 billion this year, despite an M&A slowdown in the payments sector due to the ongoing pandemic.
In B2B payments and corporate finance, it wasn’t only bank-FinTech collaboration that made headlines in 2018. Partnerships, joint ventures, as well as merger and acquisition (M&A) activity between banks, startups, payments firms, technology conglomerates and everyone in between became a popular strategy for tackling friction.
Corporate mergers and acquisitions (M&A) activity has broken a new record this year, according to the latest data from Jeff Golman, vice chairman of Mesirow Financial. 21), Golman noted that not only is corporate M&A at its highest level ever, it also accounts for the largest-ever portion of total M&A activity.
Citing three unnamed sources, reports said Citi is advising on the deal, which could fetch $600 million for the B2B payments operations. The prediction followed Bloomberg reports that Western Union was moving to sell the operations, which provides cross-border B2B payments services. ” .” ” . …
“We’re continually investing in further improving our technology and solutions, benefiting our customers as we help them to transform procurement, accounts payable and billing.” and abroad,” though the company did not elaborate on its mergers and acquisitions (M&A) plans. .
However recent analysis from Iron Pillar , as reported recently in the Times of India, suggests that such a slowdown may not be detrimental to the B2B FinTech startup arena. Talk of a decelerating FinTech venture capital market continued to mount this week with reports that digital banking startup Aspiration is struggling to raise money.
Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts. According to Lansdowne-Higgins, among the biggest challenges in accounts payable today is the data silos.
Payhawk is able to operate in unison with businesses’ existing bank accounts, however, thanks to Europe’s PSD2 and open banking regulations. Brex Goes on Acquisition Spree. This week, corporate card startup Brex announced the acquisition of three companies to strengthen its card offering.
Expense management and accounts payable (AP) automation solution provider Emburse is rolling out new card solutions designed to help organizations manage their travel spend. FLEETCOR Preps For M&A Spree. From a mobile app to beefed-up rewards, the latest solutions are embracing the shift of spend to the card.
Shares in Australia-based small business cloud accounting software company MYOB jumped as much as 20 percent Monday (Oct. The acquisition attempt comes just months after the Australian Competition and Consumer Commission (ACCC) prevented a merger attempt between MYOB and another software company, Reckon.
As noted in this space , the entity fashioned by the merger would take its place as the fifth largest retail bank in the country, and with a presence that spans 24 states, and with a combined asset base of about $560 billion. And, generally speaking, the strategy that exists in M&A boils down to a binary choice: build vs. buy.
During the firm’s earnings call, Clarke pointed to initiatives across Fleetcor’s four core business units — fuel, corporate payments, tolls and lodging — via collaborations, mergers and acquisitions (M&A) to drive incremental growth in each area. Total revenues were up 7 percent year over year to $619.6
Mergers and acquisitions have become a popular way for traditional financial institutions to acquire the technologies developed by smaller FinTechs, not only allowing FIs to build out their offerings, but eliminating the reliance on an API strategy to connect their platforms to third parties.
Six corporate travel expense management and accounts payable (AP) solution providers are combining into a single company to form Emburse , according to a press release Thursday (Jan. Earlier this month, Coupa announced the acquisition of Yapta in another initiative aimed at streamlining corporate T&E management operations.
Combined, more than $337 million in funding will fuel growth for an array of B2B startups that revealed their latest funding rounds this week. Texas’ SpyCloud delivers protection against account takeover for its corporate clients. PYMNTS breaks down the latest deals below. Cybersecurity.
A court hearing late last week gave the all-clear for CYBG to complete its acquisition of Virgin Money for $2.24 billion, finalizing one of the largest bank mergers since the financial crisis, according to reports in Independent.ie The merger creates the U.K.’s on Monday (Oct. ” said Duffy in a statement. .
Others reported being unable to even log in to their accounts. “We Partnerships, mergers and acquisitions (M&A) are key strategies for WEX to fuel global growth. Partnerships, mergers and acquisitions (M&A) are key strategies for WEX to fuel global growth.
The healthcare and construction industries are among the strong points of FLEETCOR’s corporate payment operations, particularly with 2018 being the first full year with Cambridge Global Payments under the FLEETCOR belt after closing the acquisition in 2017 — a business that showed a “rocking” performance in 2018, said Clarke.
In a press release issued Monday (July 1), WEX said its acquisition of Go Fuel Card, the fleet card business of EG Group, is complete, expanding WEX’s presence across the Netherlands, France, Belgium and Luxembourg. Partnerships, mergers and acquisitions (M&A) are key strategies for WEX to fuel global growth.
Earlier this month, the Federal Reserve released new data that found the average merger review time for deals in the banking sector declined to 3.8 The average merger review time at the Office of the Comptroller of the Currency (OCC) declined between 2016 and 2018, too, reports in The Wall Street Journal said.
And while the enterprise has troves of sources of data from which to collect — from their various bank accounts to the growing number of platforms in operation — they lack the IT resources that can help them manage this information. Seeking Investment Opportunities. Corporates' investment opportunities are shifting dramatically, however.
Whether that means establishing subsidiaries abroad, acquiring customers in new geographic markets, or stepping into a new space via mergers and acquisitions (M&A), even small companies are often global ones. This used to be a big-company problem, back in the day," he told PYMNTS in an interview.
Reval offers treasury management solutions that have now become the target of an acquisition. “The acquisition of Reval substantially increases our footprint in treasury cloud services and enriches our product portfolio with leading functionality in risk and hedge accounting,” said ION CEO and Founder Andrea Pignataro.
And this week, the theme wasn’t just working hard – it was working together, as the major news mostly came from the world of mergers and acquisitions. The assets gained in the acquisition help banks control or suspend tokenized bank account numbers, limit token use to specific channels and even set spending limits.
He called out, in addition to the Goldman and Apple initiatives, the fact that Mastercard is the preferred vendor for T-Mobile’s new mobile-first checking account, T-Mobile Money. On Commercial and B2B Efforts. Separately, the acquisitions of Transfast and Ethoca remain in place. billion, better than the $3.8 percent in Europe.
The report found 36 percent of mid-market firms — those with annual revenue between $10 million and $150 million — as looking to grow via mergers and acquisitions. The report found 36 percent of mid-market firms — those with annual revenue between $10 million and $150 million — as looking to grow via mergers and acquisitions.
However, the number of banks has steadily declined over the years, partly driven by merger and acquisition (M&A) activity — with much of that consolidation occurring in the community bank market. Community banks are pushing for a stronger role with their small business (SMB) customers. A Consolidating Industry.
Australia-based corporate accounting firm MYOB reached a deal to acquire corporate payments company Paycorp, reports said Thursday (Feb. MYOB will buy up the company for just over $37 million, the firms revealed, and the merger is expected to be completed by April 1 of this year.
Instead, businesses — particularly larger firms — are turning to mergers and acquisitions to source new technologies. Most companies said they are already using new technologies in their accounting, billing and transfer operations. Where does the middle market fit in this spectrum? ” Surveying 300 U.S.
According to the analytics firm, there is a trade finance-related corporate accounting loophole that may be widespread in the U.S. Supply chain financing programs offered by banks and alternative lenders do not necessarily require disclosure of the debts under corporate accounting standards. Defunct U.K. Defunct U.K.
But when a multinational organization has dozens, or even hundreds of bank accounts at multiple institutions around the world, managing funds via proprietary web portals becomes less of a realistic task, and more of an overwhelming burden of manual task work. Tripping Up Cash Management. The Regulatory Impact.
The pullback of banks from the small business lending space left a gap filled by alternative lenders who are exploring new ways to connect entrepreneurs with capital, a journey that includes innovation and a bit of experimentation. “Lenders’ primary goal is to assess a consumer’s stability, ability and willingness to pay.
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