Billtrust has announced that B2B payments processor and commercial card issuer, Comdata, has joined Business Payments Network (BPN), enabling their 30,000 buyer customers to send payments to suppliers on BPN.
With this BPN alliance relationship, Comdata – the largest commercial Mastercard issuer in North America, responsible for paying more than US$55bn to 800,000 suppliers on behalf of its 30,000 buyer customers – gives buyers the ability to automate electronic payments to many suppliers through one network. By doing so, buyers are able to reduce costs, delays, and inefficiencies, promote payment transparency, and meet the unique needs and preferences of their suppliers.
Launched late last year, BPN is designed to address current industry challenges by:
- Publishing a directory that contains a full view of participating suppliers and their payment acceptance preferences.
- Providing financial institutions and corporate buyers with ability to deliver digital payments directly to the suppliers’ acceptance platforms.
- Offering acquirers and accounts receivable providers the opportunity to accept payments directly from payables platforms.
- Enabling complex financial and payment data to seamlessly come together at scale while delivering streamlined reconciliation to suppliers and buyers.