Today In B2B: Experian Pairs With C2FO; Bank Of The West Launches AP Platform

Today in B2B payments, Experian collaborates with C2FO, while Bank of the West rolls out an integrated accounts payable platform. Plus, TruckPay embraces bitcoin for logistics payments, Xometry debuts an invoicing platform and the European Central Bank sounds off on digital euro penalties.

Experian Teams With C2FO On Early Payments For Suppliers

Experian has teamed with working capital digital marketplace C2FO to provide the Experian Early Payment Programme. The initiative, which is in the process of launching, helps with the liquidity requirements of Experian vendors during the COVID-19 pandemic, according to a Wednesday (Feb. 10) announcement. “By partnering with C2FO and launching our Early Payment Programme, we are excited to provide enhanced payment/cashflow options to our suppliers. This dynamic, new approach will allow us to offer a simple and straightforward way for them to access early payments and supplement their cashflow,” Experian Global Chief Procurement Officer Mark Langrish said in the announcement.

Bank Of The West Debuts Integrated Payables System With CSI

Corporate Spending Innovations (CSI) has collaborated with BNP Paribas subsidiary Bank of the West to roll out V-PAYO, an integrated payables system that includes virtual card payment optimization, according to a Wednesday (Feb. 10) announcement. Virtual cards simplify operations, letting business customers operate in a more effective manner. This payment method has online B2B payments take the place of hardcopy checks. Moreover, virtual cards enable an increased float period of as many as 55 days, which can assist in bolstering cash flow, according to the announcement.

TruckPay Will Accept Crypto For Logistics Payments

TruckPay will now allow logistics payments with cryptocurrencies, according to a press release. Bitcoin, Ethereum and Stellar Lumens will be available as payment options on the TruckPay Fleet Management and MyTruckScales platforms, the release stated. TruckPay CEO and President Barry Honig said the decision was spurred by the growing acceptance of cryptocurrency in the payments world, especially as Tesla prepares to allow bitcoin as a payment method, according to the release.

Xometry Rolls Out Products To Speed Up Payment Acceptance

Xometry has launched a new suite of products, Xometry Pay, to help companies quickly and easily accept payments, according to a Wednesday (Feb. 10) press release. Xometry Pay comes after the launch of two other products, Xometry Advance Card and FastPay, both of which enhance cash flow flexibility. Now, with Xometry Pay, companies will be able to use those services for any job. The release says that includes 30 percent payment advances at the beginning of a job, the remaining payment NET-30, and the option for accelerated payment if needed.

Digital Euros Might Have Penalties To Curb Financial Chaos, ECB Says

European Central Bank (ECB) member Fabio Panetta says the digital euro could pass negative interests rates to customers, Bloomberg writes. Panetta, speaking at an event on Wednesday (Feb. 10), said officials who wanted to prevent bank runs could make hoarding digital money an unattractive option through penalizing remuneration of holdings more than 3,000 euros.