B2B order-to-cash and digital payments provider Billtrust has announced its partnership with Visa in order to extend the Business Payments Network collaboration. Following this announcement, Visa is expected to continue to offer Business Payments Network (BPN) to its customers and partners, which will optimise the way businesses streamline the overall B2B digital payments processes.

In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement The Business Payments Network (BPN) was launched in 2018 in collaboration with Visa, and it was developed in order to link suppliers to their buyers through connectivity to their preferred bank and payable providers, which aimed to radically simplify the payment acceptance process. This took place via straight-through processing of virtual card transactions and the capture of all available remittance data.

At the same time, suppliers were given the possibility to benefit from eliminating manual virtual card processing and improved acceptance costs, while buyers were enabled to transact by leveraging their preferred payment methods. Alongside this, banks, financial institutions, and accounts payable (AP) providers were allowed to benefit from transparency and security regarding supplier virtual card acceptance and preferences. The network’s expansion and the launch of optimised features represent an important step in the companies’ commitment to offering financial institutions and fintech partners the possibility to access essential capabilities focused on reduced friction.

At the same time, the focus is set on driving payment volume through this mutually beneficial B2B payment method. The Business Payments Network is expected to continue its strategy of delivering ergonomic and economic support for virtual card acceptance, as well as driving frictionless and more cost-effective acceptance. .