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Today In B2B Payments News: Tide SMB Funding Runs Dry; Just Cashflow Plans Biz Banking Product

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challenger bank Tide runs dry of SMB loan funds, while Payer launches an ID verification service for B2B eCommerce platforms. The new product will let eCommerce merchants verify new customers as trustworthy to ease some of the difficulties of making new transactions, the release stated. Today In B2B, U.K.

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AP Automation: The Three ā€˜Pā€™sā€™ Of Standing Out In The Crowd

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With B2B payments being an increasingly attractive target for innovators, the landscape is growing crowded as more banks and FinTechs roll out their accounts payable (AP) automation solutions. Again, noted Fordyce, this can take many forms ā€” from automating invoice reconciliation to addressing a user’s resource constraints.

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Brazil Upgrades Real Time Payments Rails, Goes Live With PIX

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Keys can be the user's social security number, mobile phone number, or email address, providing a level of security and identification above the SITRAF rails. A merchant is not so much concerned about having the money at his accountant at the given second. It takes consumer data to make PIX work. The Need For Speed .

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New Yearā€™s Resolution: The Clearing House Urges Banks To Become 24/7 Operations

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Whether it was helping small businesses get their PPP payments or convert to eCommerce, getting cash in the hands of workers delivering food, or accommodating digitized mortgage closing and escrow activity, the coronavirus has foisted a lot of change on the financial services industry in a short amount of time. ā€œA

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In B2B, Embedded Payments Make For Attractive Acquisitions

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As reported earlier in this space, dealmaking to date in 2020 has included eCommerce-as-a-Service firm Mirakl securing a $300 million investment, and payments firm Zoop securing a $10.85 There is also growing demand for better accounts receivable (AR) management, he added. million round, among others.

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Louis Vuitton Does X-Border Payments, Connects To SWIFT Via FIS

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FIS leveraged its Trax corporate payments factory, which provides corporate treasury functions a highly secure platform for consolidating and standardizing their accounts payments workflow, to connect LVMH Groupā€™s partner banks to the SWIFT gpi. Based in Paris, about 65 percent of the multinational companyā€™s payments go across borders.

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How New B2B Payment Models Tackle The Buyer-Supplier Conflict

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Corporates want to delay payment as long as possible in order to better manage cash flow, while suppliers are pressed to accelerate accounts receivable to strengthen their own cash positions. As B2B eCommerce gains traction, the opportunity for consumer-like payment models will continue to grow, too.

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