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- Helped by a collaboration with Visa Inc., Billtrust’s Business Payments Network recorded a 118% increase in payments volume in the first half of 2020 compared to the same period last year. BPN enables banks and corporate buyers to send digital payments to suppliers’ acceptance platforms.
- Capital Bank N.A. said it has upgraded its digital platform to offer better service to small businesses, creating one location for payments and transfers, including automated clearing house payments, wires, payroll, and bill payments.
- Routable, a startup specializing in business-to-business payments, said it has emerged from stealth mode with $16 million in funding, including $12 million in a Series A round.
- Challenger bank Social Finance Inc. (SoFi) announced a “pandemic relief package” that includes cash back on so-called quarantine-essential purchases, including 10% on groceries, food delivery, streaming video, and live sports channels. In June, SoFi joined the Allpoint ATM network.
- Payments provider ACI Worldwide Inc. appointed Alvaro Monserrat chief revenue officer. Most recently, Monserrat served as president of the imaging division at Nuance Communications.
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