SECURE PAYMENT SERVICES

SECURE PAYMENT SERVICES



Industry News & Views

Featured Service Providers

PAYONEER

With over 700 employees globally across 12 offices, Payoneer enables millions of businesses and professionals from more than 200 countries, facilitate seamless, cross-border payments in more than a 150 currencies. Additionally, thousands of leading corporations including Airbnb, Getty Images, Google and Upwork rely on Payoneer’s mass payout services. Payoneer’s flexible, secure and low-cost solutions, enables businesses and professionals in both developed and emerging markets to pay and get paid globally and locally. Payoneer offers a rich set of integration options and APIs to integrate payments to fully automate payment initiation, administration and reconciliation with adequate transparency for payees. The platform offers Flexible Integration, Robust and Secure Platform, Comprehensive Set of Services, Scale to unlimited number of payees and volume. Their markets according to their website appears to be mostly service sector oriented. Limited information is available on B2B commercial and industrial sectors.

TRANSPAY

Transpay, is a B2B/B2P cross-border payout platform with one of the largest, independent, direct-to-bank payout network in the world. It is an alternative global bank payout service that operates outside of the SWIFT Wire Network and enables direct-to-bank transfers using local currencies. An alternative to wire transfers, eWallets and prepaid cards, Transpay uses an end-to-end technology to enable real-time transfers across 120+ countries in 60+ local currencies. Transpay is backed by GCP Capital Partners, a $1.8 billion private equity fund led by top investors in the payments industry. Transpay offers global enterprises two convenient products: Mass Pay API and Web Platform. Through Transpay's global proprietary network, funds are processed directly from business-to-business (B2B) or business-to-persons (B2P), without crossing any intermediary or correspondent bank networks. Prefunding is required in USD, GBP, EURO, and CAD, although credit facilities are sometimes available.

VEEM

Veem (previously Align Commerce) is a new platform for business to business payments and now operates in 60 countries. Veem enables businesses to send and receive payments in local currency via a simple and inexpensive multi-rail technology across several global networks, using both traditional and digital means to move money directly from payor’s bank account to that of the recipients’. Veem’s system essentially cuts out the middle man—eliminating wire transfer fees, corresponding bank fees, FX fees and provides exchange rate spreads at 1.9% or lower. Upon entering the payor and payee information plus invoice details, the monies flow directly from one account to the other with the exact payment and receipt amounts known each time. The transfers are insured against breach of physical security, cyber security, or theft and also for errors or omissions in Veem’s operations. The issue of integration with the Business ERP systems for B2B clients, needs further review with the company.

XBS GLOBAL

XBS GLOBAL is an industry leader and innovator in providing consultative B2B merchant services and payment solutions to diverse industries.   They do this through their exclusive relationship and now co-brand with Priority Payment Systems - Atlanta, GA - currently the 20th largest payment processor in the United States. XBS Global helps clients Streamline their transactions and direct payment processing with QuickBooks® integrated POS software and also help to reduce credit card transaction costs by up to 50%, with their B2B merchant services, Level 2 and 3 credit card processing. The XBS Global APIs rapid connectivity of applications, switches and gateways create a new value proposition for manufacturers and distributors. XBS Global also provides Direct Debit and ACH for B2B & B2G transaction processing for larger accounts. Finally, XBS Global also provides American Express Merchant Financing of up to $ 2 million for one or two year with simple terms and easy repayment schedule.

CENTURY BUSINESS SOLUTIONS

In 2004, Century Business Solutions was founded. Century is a software developer, merchant processor, and payment gateway dedicated to streamlining of credit card processing. They process over $3 billion a year for over 10,000 clients and offer over 50 software integrations.Their B2B offerings include accounting, CRM and shopping cart (e.g., Magento) integration, EBizCharge proprietary payment gateway, lower cost merchant processing solutions, mobile payments, broadly compatible point of sale, and online invoicing using their EBizCharge Connect application. They offer a variety of different PCI compliant payment processing solutions for B2B processing, including fully integrated accounting solutions and a proprietary payment gateway. They serve from small businesses to large-scale enterprises in dozens of industries.

BASWARE

Founded in Finland in 1985, Basware is now a fully integrated financial supply chain solution to simplify and speed-up paying and getting paid using end-to-end source-to-pay solutions and services and remove the need for paper invoicing with e-invoicing and help streamline the procurement process. On the procurement side, Basware offers Purchase to Pay Analytics, AP Automation, e-Procurement, Strategic Sourcing. Travel & Expense Management, Business Consulting, and Invoice Automation for Small & Medium Businesses. It also offers Supplier Engagement, Supplier Data Verification, and an eMarketplace. On the revenue side it offers , invoice Sending, e-invoicing, PDF e-Invoicing, Paper Invoices and Invoice Archiving. Its dynamic discount provisions allow terms like “2% 10 days” to be implemented. Its e-payments facilities provide, through its collaboration with Mastercard, trade finance whereby sellers can be paid immediately while buyers can enjoy extended credit terms.

VIEWPOST

Viewpost, a Florida based secure business payment network having associations with Banks such as Bank of America, Fifth Third and US Bank, provides invoicing and payments services. Its offering allow B2B, including ecommerce, businesses to create, send and track online invoices, send electronic payments to suppliers without sharing sensitive bank information and receive electronic payments securely in your business bank account through the Viewpost network. Its services also include services related to factoring where a business can view the real-time status of invoices and payments and access working capital if needed, earn cash back on payments and customize workflow for the business. Viewpost integrates easily with existing ERP and accounting systems including Oracle, SAP, Microsoft Dynamics and Quickbooks, and though these accounting systems with B2B ecommerce platforms. For direct integration with B2B ecommerce platforms the Company should be contacted.

AVAILABLE

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More B2B eCommerce Payment Systems

Bill.Com

Bill.com is a leading digital business payments software application providing simple A/P and A/R solutions. It does not intermediate the payments but links to partner banks through which normal ACH or credit card payments are processed. Founded in 2006, Bill.com has over 1,000,000 network members who process over $25 billion in payments per year through securely automated end-to-end processes. Bill.com partners with more than 10 banks including Bank of America, Capital-one, PNC and others. Bill.com integrates with accounting systems such as XERO, Quickbooks, intact, NetSuite and others (see Video). This payment gateway is well suited to SMEs with simple accounting and ERP systems. They also have a cloud version biil.com connect which can further reduce in-house operational burden for the SME. Website

Some Country Options Worth Noting

B2BPAY

Founded in 2015, B2BPay partners with Barclays Bank and Nordea Bank of Sweden, with funding from Finnish Government and investors from Finland and the united states to offer B2B exporters to or importer from Europe, a novel virtual banking payment method by setting up a Virtual Bank account in Europe in collaboration with its partner banks so that payments to and from European suppliers and customers can be made via local SEPA payments to the virtual bank from which the monies are transferred By B2Bpay. The B2BPay integrates easily with common Banking APIs as well as Accounting software packages. Their current volume of transactions can be updated by contacting the company. Website

Ebury

Ebury is a UK based payment services company regulated as an Authorised Payments Institution by the Financial Conduct Authority of the UK. It serves more than 12000 businesses and organizations conducting transactions in more than 140 currencies. They provide international payments, foreign exchange risk management, import lending, and collection services. Their “Fusion” service for example can collect offshore payments in several currencies and process payments from those collections in several other currencies seamlessly. They serve import export shipping insurance and travel industries among others. Website

RED DOT Payments

Founded by a group of visionary financial technology payment experts in 2011, and headquartered in Singapore, Red Dot Payment has grown into a trusted online payment company providing premium payment solutions and expertise to the brightest merchants across Asia Pacific. In 2016, Red Dot Payment grew to handle millions of transactions across the globe, managed by a dedicated 40-person strong operation. As a trusted FinTech partner of banks, merchants, credit card associations, online payment gateways, non-banking financial institutions, security and fraud management system providers they have become a PCI DSS Compliant Service Provider with the highest level of PCI DSS accreditation (Level 1). Red Dot’s services Online Payments, Rapid e-commerce, Online invoicing, Alternative payments, One-click payments and Recurring payments. Customers can select the products or services and make payment using global and local payment modes such as Visa, Mastercard, UnionPay, eNETS (SG) and Alipay. Website