Latest news with #B2Bpayments
Finextra
3 days ago
- Business
- Finextra
OatFi raises $24m to build credit network for B2B payments
Fintech infrastructure startup OatFi has raised $24 million in Series A funding to build a credit network for business-to-business payments. 0 White Star Capital led the round, with participation from existing investors Portage and QED backing OatFi's effort to tackle one of the main pain points in B2B commerce: payment terms. In traditional B2B transactions, buyers and suppliers often operate on opposing cash flow incentives. Suppliers seek fast post-delivery payments to recover working capital, while buyers look to delay payments to preserve operating cash and liquidity. By embedding its underwriting, origination, and funding capabilities directly into B2B payment platforms within their AP, AR, and commercial charge card workflows, OatFi's APIs enable platforms to facilitate B2B transactions with built-in financing at the point where it's needed most. 'B2B payments are not just a money movement challenge—they're a data and workflow challenge,' says Michael Barbosa, CEO, OatFi. 'That's why we've focused on deep API integrations that offer working capital solutions within the platforms that businesses already rely on to pay and get paid.'
Finextra
4 days ago
- Business
- Finextra
Payabl. launches Virtual Business Cards
Leading European financial technology provider, payabl. has launched its Virtual Business Cards service, a digital payment solution designed to give businesses greater control, security, and visibility over their spending. 6 Virtual cards are a digital alternative to physical credit or debit cards, offering real-time issuance, customisable limits, and transparent spending to streamline expense management and enhance financial oversight. Businesses can generate cards instantly, assign them to team members, set spending limits, and freeze/unfreeze access when needed. Built to simplify B2B payments, payabl.'s Virtual Business Cards are ideal for e-commerce companies needing extra transaction security, start-ups and scale-ups managing supplier budgets and global teams with travel and multi-currency expenses. The new proposition further strengthens payabl.'s Business Accounts offering and underpins the company's commitment to helping businesses stay ahead in today's rapidly evolving payments landscape. Ugne Buraciene, Group CEO of payabl., said: 'With the launch of our virtual cards service, we're making it easier for companies to take greater control of their payments. From improved oversight of spending, to the ability to set budgets and ensure the highest level of security, payabl. is removing the friction from payments so businesses can focus on what really matters: growing their businesses and better serving their customers and partners.' payabl.'s virtual cards service has been designed specifically to meet growing merchant demand and usage, with the total volume of virtual card transactions expected to reach 175 billion by 2028, rising from 36 billion in 2023*. The value that virtual cards bring to businesses is evident, with 94% of firms that use them saying their transactions are faster, more detailed, and more secure**. Breno Oliveira, Head of Product at payabl., added: "The virtual cards market is booming, with transactions now in the billions and set to rise significantly. While much focus has been on consumer use cases, the value they can bring to businesses in cutting admin time spent on payments and boosting productivity is evident. And at payabl., we're unlocking those benefits for more businesses.' Card issuance now sits alongside payabl.'s wide range of payment solutions, including card acquiring, local payment methods, and point-of-sale (POS) terminals. Its Business Accounts enable customers to send, receive, and manage multi-currency payments 24/7/365, with access to an all-in-one dashboard and dedicated client relationship managers.
FF News
5 days ago
- Business
- FF News
payabl. Launches Virtual Business Cards to Empower Smarter Business Spending
Leading European financial technology provider, payabl. has launched its Virtual Business Cards service, a digital payment solution designed to give businesses greater control, security, and visibility over their spending. Virtual cards are a digital alternative to physical credit or debit cards, offering real-time issuance, customisable limits, and transparent spending to streamline expense management and enhance financial oversight. Businesses can generate cards instantly, assign them to team members, set spending limits, and freeze/unfreeze access when needed. Built to simplify B2B payments, payabl.'s Virtual Business Cards are ideal for e-commerce companies needing extra transaction security, start-ups and scale-ups managing supplier budgets and global teams with travel and multi-currency expenses. The new proposition further strengthens payabl.'s Business Accounts offering and underpins the company's commitment to helping businesses stay ahead in today's rapidly evolving payments landscape. Ugne Buraciene, Group CEO of payabl., said: 'With the launch of our virtual cards service, we're making it easier for companies to take greater control of their payments. From improved oversight of spending, to the ability to set budgets and ensure the highest level of security, payabl. is removing the friction from payments so businesses can focus on what really matters: growing their businesses and better serving their customers and partners.' payabl.'s virtual cards service has been designed specifically to meet growing merchant demand and usage, with the total volume of virtual card transactions expected to reach 175 billion by 2028, rising from 36 billion in 2023*. The value that virtual cards bring to businesses is evident, with 94% of firms that use them saying their transactions are faster, more detailed, and more secure**. Breno Oliveira, Head of Product at payabl., added: 'The virtual cards market is booming, with transactions now in the billions and set to rise significantly. While much focus has been on consumer use cases, the value they can bring to businesses in cutting admin time spent on payments and boosting productivity is evident. And at payabl., we're unlocking those benefits for more businesses.' Card issuance now sits alongside payabl.'s wide range of payment solutions, including card acquiring, local payment methods, and point-of-sale (POS) terminals. Its Business Accounts enable customers to send, receive, and manage multi-currency payments 24/7/365, with access to an all-in-one dashboard and dedicated client relationship managers. Companies In This Post payabl.
Zawya
28-05-2025
- Business
- Zawya
South Africa: Inside Verto's strategy to streamline African trade with a 2030 vision
Cornelius Coetzee, country director for Verto South Africa, shares insights on the company's strategic expansion across Africa, its role in simplifying global B2B payments, and how its licensing and infrastructure empower businesses to scale. In this Q&A, Coetzee unpacks how Verto is shaping the future of cross-border trade on the continent. Could you speak to Verto's footprint in 49 countries including South Africa and Africa, and how you see Verto expanding to meet the B2B needs on the African continent by 2030? Verto's footprint provides access to 49 currencies globally, leveraged through our strategic licenses in the UK and US which enable crucial banking partnerships. For Africa specifically, our focus was to obtain licensing and set up a market presence in key economic hubs: Nigeria, Kenya, and South Africa, with the UAE serving as a vital link for Middle Eastern and North African (MENA) region trade. This existing infrastructure uniquely positions us to manage local cash pools, and the volatility often associated with African currencies - a complex area many global banks avoid. Looking towards 2030, Verto's African expansion strategy is to broaden our direct licensing across the continent. This will further empower us to meet growing B2B needs by enhancing payment infrastructure, significantly fostering both intra-African trade and streamlining Africa's trade flows with the rest of the world. Verto's business model emphasises B2B transactions, offering a platform for multinational corporations to transact seamlessly with suppliers and business ecosystems across continents and currencies — including US dollar-based conversions and real-time payments. Can you elaborate on how this formula works in practice? Verto's formula helps B2B clients navigate evolving global trade, offering flexibility beyond sole USD reliance to transact seamlessly in diverse, even 'exotic', currencies. Our approach integrates a unified platform providing multi-currency accounts (e.g., NGN, KES, ZAR alongside G10), expert FX and liquidity management to handle African currency volatility and convertibility, efficient payment rails enabling near real-time cross-border transactions, and strategic licensing with banking partnerships for compliant global liquidity. This empowers multinationals to transact with their ecosystems in local currencies or USD, simplifying complex cross-border payments. You mentioned two members of Verto's founding team — one a former banker and the other a fintech aficionado — have addressed the challenges faced by companies exporting to multiple countries. One such challenge is the licensing hurdles in regions like the UK and EU, which can delay imports and result in significant holding costs, sometimes amounting to millions. Could you speak more to that? Verto's co-founders, both bringing experience from the technology and remittances sides of banking, understood that robust compliance is paramount, an insight solidified by Verto's foundational experience trading between the UK and the highly illiquid Nigerian market. Their formula for navigating complex licensing hurdles involves proactively cementing relationships with central banks and regulators. Crucially, they engage these institutions by understanding their primary role as policymakers dedicated to their country's treasury stability, rather than as commercial bankers. This deep regulatory understanding and collaborative, policy-first approach are key to Verto's ability to obtain licensing efficiently, thereby helping businesses mitigate costly delays when exporting to multiple countries. For B2B companies looking to partner with Verto, could you explain how your platform helps solve this issue? For example, how does Verto act as a go-between license holder or sponsor for clients needing import/export licensing approval — and how does this enable companies to scale their operations more efficiently? For B2B companies looking to partner with Verto, we solve our clients' pain points by acting as a licensed intermediary, leveraging our regulatory approvals in key jurisdictions. This means we can operate on behalf of clients; for instance, a South African exporter wishing to trade into the EU or UK can utilise our FCA license in the UK to access local GBP or Euro IBANs, without the client needing their own entity registered in that corridor. Essentially, they can receive funds like a local and repatriate that back to South Africa more efficiently. By Verto serving as this licensed intermediary, companies significantly reduce the typical costs, risks, and administrative delays associated with individual licensing processes. This streamlined market access is crucial, enabling businesses to scale their international operations much more efficiently. So far Trump's tariffs have highlighted how expenses such as currency conversions, import taxes, and sudden currency fluctuations have become critical — even lifeblood — costs for importers and exporters. Could you explain how Verto's platform helps mitigate these expenses and addresses this challenge? Businesses have long grappled with substantial 'costs of doing business' internationally, such as high transaction margins, various fees including SWIFT charges, frustrating payment delays, and significant currency risk exposure. These are no longer just accepted overheads, but critical pain points that Verto directly addresses. We help clients mitigate these financial risks and inefficiencies on two primary fronts: Optimising currency risk and transaction costs: Verto leverages strong partnerships with multiple banking partners globally. This network allows us to streamline the entire payment process, offering more competitive foreign-exchange rates and by default, reducing our clients' exposure to volatile currency fluctuations. Accelerating settlement times and reducing complexity: Our well-developed financial ecosystem and banking relationships enable us to drastically cut down transaction settlement periods. Instead of businesses waiting three to five days and navigating complex regulatory hurdles, Verto ensures funds are typically delivered within 24 hours, often even sooner. Could you elaborate on your plans to expand your South African retail footprint—for instance, by partnering with businesses that follow models like Shein or Takealot? How does this tie in with your interest in scaling up your wine import/export operations? Recognising that the third-party payment processing (TPPP) market in South Africa is currently too expensive, Verto aims to extend the cost-reduction and efficiency benefits we've delivered to our global B2B customers to the domestic retail and wholesale sectors. Our strategy involves leveraging Verto's existing, proven global system - which provides fast, near-instant settlements for merchants - and adapting it to create a robust solution for local collections, payment aggregation, and domestic settlement. Crucially, many South African retail and wholesale businesses also conduct high-volume monthly imports from regions like the Far East, the Middle East, or the US. By integrating Verto's capabilities, these companies can not only streamline their domestic payment processes but also simultaneously fast-track settlement lead times and reduce their foreign-exchange risk exposure on their import trade activities. This offers them a powerful, integrated solution to enhance overall operational and financial efficiency. You mentioned that you've recently launched operations in Dubai and would ideally like to expand into Egypt. What opportunities might such an expansion present for Verto? Establishing the UAE as a strategic hub is pivotal for Verto, granting us licensed access to the burgeoning Middle Eastern and North African (MENA) trading block, markets of increasing global prominence previously less accessible to us. Our UAE license is the key to effectively serving businesses operating in and with this dynamic region. Many international businesses are now centralising their operations in the UAE, which also boasts strong trade agreements with key players in the GCC and fosters growing connectivity with other regions. Verto is strategically positioned to leverage this. Our UAE license will enable us to 'connect the dots', fostering seamless trade and payment corridors not only within MENA itself but also crucially bridging MENA with African markets and the wider global economy. This significantly expands our ability to support our clients' international trading and growth ambitions. Given the pressure that the Trump administration and rising tariffs are placing on businesses and their profit margins, what advice would you offer to multinational corporations feeling the squeeze? How might partnering with Verto help turn these challenges into opportunities? We understand that multinational corporations, especially those in South Africa, often have deeply rooted, traditional banking relationships and might be cautious about engaging a fintech partner. Verto respects this loyalty; we don't aim to replace your primary bank. Instead, we position ourselves as a specialised, complementary solution designed to optimise the global trade arm of your business. In today's uncertain economic landscape, the critical question for many MNCs is how to best improve international operational costs and strengthen their financial position. Verto provides a direct answer. Our core mission is to reduce these cross-border transaction costs and significantly accelerate global trade. We achieve this by ensuring greater currency availability across numerous corridors and delivering tangible cost savings, allowing your business to focus more on strategic growth and scaling opportunities. By partnering with Verto, you are assured of a measurable reduction in your international cost of doing business. Furthermore, you gain access to a streamlined, interconnected platform that facilitates trade across multiple corridors, some of which may have been previously challenging or less cost-effective to reach. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Arabian Business
19-05-2025
- Business
- Arabian Business
FAB becomes first MENA bank to launch Oracle-Mastercard embedded finance solution
First Abu Dhabi Bank (FAB) said it is the first bank in the Middle East and North Africa (MENA) to pilot an innovative embedded finance and payments solution developed in partnership with Oracle and Mastercard. The collaboration combines the strengths of the two industry leaders to revolutionise business-to-business (B2B) finance and payments processes for FAB clients, enhancing efficiency, security, financial transparency, and supplier relationships. The integration of Mastercard's virtual card platform directly into Oracle Fusion Cloud Enterprise Resource Planning (ERP) software, addresses common challenges in commercial payments, such as fragmented data, systems, and processes by delivering a seamless turnkey payment solution, the bank said. The virtual card solution automates manual tasks, streamlines workflows, and offers real-time insight into cash flow and spending, helping businesses enhance operational efficiency and reduce costs, it said. The initiative is part of FAB's efforts to provide its corporate clients with advanced and efficient tools to meet their evolving business needs. Gina Petersen-Skyrme, SVP and Country Manager, UAE and Oman, Mastercard, said the company is delighted to leverage its innovative virtual card platform to expand the benefits of embedded finance in Oracle Cloud ERP to FAB's commercial customers. Liam Nolan, Vice President of Applications Development at Oracle, said the collaboration introduces a proven consumer payment method to the B2B world, simplifying supplier onboarding, reducing risk, and enhancing working capital management for both buyers and suppliers. According to the 2024 ' Payment Practices Barometer ', nearly 40 per cent of businesses in the UAE highlight inefficient payment processes as the primary cause of delayed payments.
