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Today In B2B Payments: Hospitality Bridges AP Expense Gap; Architect Capital Launches Asset-Based Lending

Today In B2B Payments: Hospitality Bridges AP Expense Gap; Architect Capital Launches Asset-Based Lending

June 08, 2021 at 12:34AM
by PYMNTS

Today in B2B payments, Goldman Sachs teams with Visa on cross-border B2B payments, and Plate IQ explores how the hospitality industry is blurring the line between accounts payable (AP) and expense management. Plus, Architect Capital launches, Fintainium partners with Visa, and Albertsons taps C2FO for supplier financing.

Goldman Sachs Teams With Visa to Streamline Cross-Border Payments for Clients

Today, Goldman Sachs and Visa announce a strategic partnership that will allow Goldman’s corporate clients to make cross-border payments of any size and frequency across 16 card networks, 65 ACH networks, seven real-time payment schemes and five payment gateways — all through a single connection — and reach all relevant RTGS networks across 97 markets. This partnership — as Alan Koenigsberg, global head of new payments flows for Visa, told Karen Webster — will simplify cross-border payments flows for Goldman’s transaction banking clients.

Hospitality Builds a Bridge Connecting AP and Expense Management

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Tech-Focused Architect Capital to Provide Asset-Based Financing

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Fintainium, Visa Team on Real-Time B2B Payments

The payments and finance platform Fintainium announced on Friday (June 4) that it was working with Visa to add real-time payment technology to its suite of solutions. The company said in a news release that this collaboration builds on Fintainium’s existing partnership with CIT’s treasury and payments services, and leverages CIT’s payments capabilities and the Fintainium cloud-based platform to help small and medium-sized businesses with improved workflow, payment execution and cash-flow support.

Albertsons, C2FO Team on Diverse Supplier Payment Program

Albertsons announced last week that it would work with the FinTech C2FO to give diverse suppliers access to early payments. “At this juncture, this special C2FO initiative is only available to diverse suppliers,” Jonathan Mayes, senior vice president and chief diversity and inclusion officer at Albertsons Companies, told Supply Chain Dive. The website notes that while supplier diversity issues aren’t new in the grocery world, Albertsons is part of a new group of retailers tackling diversity through better processes.

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