Today in the Connected Economy: FedEx, Microsoft Roll out Logistics-as-a-Service; Vroom Delivery, Turstly Allow Open Banking Payments

Today in the connected economy, Microsoft and FedEx are collaborating on Logistics-as-a-Service, and Vroom and Trustly are working together to allow for online deliveries that customers can pay for through open banking. Meanwhile, payments processor Paya expands its B2B offering with the help of Transcard.

FedEx, Microsoft Unveil ‘Logistics-as-a-Service’ to Meet Better Shopping and Shipping Demand

To meet the needs of consumers and retailers amid a surge in eCommerce, FedEx and Microsoft are collaborating on what they call a cloud-based, cross-platform solution to boost customer engagement and enhance shipping options. It’s a product the companies call “Logistics-as-a-Service” for retailers, merchants and brands. “More than ever, it’s clear just how critical having a resilient supply chain is for every organization’s success in the modern economy,” Microsoft Chairman and CEO Satya Nadella said.

Vroom Delivery, Trustly Team to Allow Open Banking Payments for Online Customers

Convenience industry eCommerce platform Vroom Delivery is working with online banking company Trustly to allow customers to pay with their bank accounts when they order online, a move the companies said will cut the average processing fees paid to credit card networks by more than half. The partnership gives Vroom customers the option to pay directly with their bank accounts — without account or routing numbers — instead of using a credit or debit card, downloading an app or creating a new account.

Paya to Expand B2B Offering With Transcard Partnership

Payments processor Paya has formed a partnership with Transcard, a company offering payment technology for financial institutions (FIs). The firms said that by integrating Transcard’s technology and banking infrastructure, Paya can “substantially expand” its B2B commerce suite, providing a fully-integrated accounts payable (AP) module and supplier network.

Apollo Partners With BNP Paribas on Inventory Solutions

Global asset manager Apollo Global Management, along with its insurance subsidiary Athene, have formed a partnership with global bank BNP Paribas to create Eliant Inventory Solutions, a platform offering working capital and supply chain assistance. Eliant gives companies “strategic and responsive inventory capital solutions to better optimize their supply chains and balance sheets and buffer inventories,” the companies said.