Today in B2B: P97, Viva Energy Team on Contactless Payments; Square Launches Loan Program

Today in B2B payments, P97 and Viva Energy collaborate on contactless payments for the Australian trucking industry, while Square launches a loan program for Canadian business owners. Plus, chief financial officers (CFOs) increase their real-time cash flow visibility because of increased fraud threats, and instant employee payment is working as a business recruiting and retention tool.

P97 Networks, Viva Energy Partner on Contactless Payments App for Australian Trucking

Mobile commerce platform P97 Networks has partnered with Viva Energy Australia to roll out an app for fleet managers and drivers called Shell Card Go, providing fleet managers and drivers with contactless mobile payments. Drivers pay for fuel at Shell, Liberty and Coles Express sites, and users find stations, view site details and earn rewards, also easily accessing their transaction histories. The app also lets Viva Energy interact with customers through digital marketing and offer discounts, promotions and messaging.

Square Loans Simplifies Funds Access for Canadian Business Owners

Square has launched Square Loans in Canada, giving small businesses streamlined access to funds by creating customized offers to eligible sellers and giving them a straightforward application process. The revamped process is free of paperwork and delivers funds as quickly as one business day with an upfront loan fee that’s automatically paid back as a percentage of daily card sales with Square. That allows sellers to pay back more when sales are strong and less during slower times with a constant loan fee.

Fraud Threats Underscore Importance of Real-Time Cash Flow Visibility for CFOs

More businesses have been exposed to payment fraud and cybercrime in the wake of the pandemic, and as a result, ensuring end-to-end visibility of cash flows, bank account transactions and payments has never been more important for today’s treasury and finance professionals. According to Jukka Sallinen, CEO at Finnish corporate payment provider Nomentia, the fact that risks originate from both internal and external sources further complicates the visibility challenge for chief financial officers (CFOs) tasked with minimizing the potential of financial crime.

Companies Use Instant Payments to Recruit, Retain Employees

Faster and more dependable payments can increase employee loyalty, and instant payments can even serve as a recruiting tool in a competitive talent acquisition environment, according to the “Expanding Payments Choice Playbook,” a PYMNTS and Onbe collaboration. As the world continues to go digital, consumers increasingly expect faster transactions in all facets of their lives. As a result, they are seeking digital payouts in their professional lives rather than waiting until payday for their wages. Gig workers are especially interested in receiving their wages instantaneously.