Accounts payable

Bora facilitates card payments in AP


Bora payment systems, which works in business-to-business (B2B) payments, provides a new tool that will allow Western Alliance Bank‘s Visa Commercial Card customers make supplier payments efficiently, according to a ad Wednesday (June 16).

Bora owns and operates the Payer Direct Hub (PDH), which operates established credit card networks to ‘push’ payments to vendors – the system can process one-off payments or take a batch file from accounts payable software ( AP) – according to Bora. to place.

michelle lance, senior vice president, head of product management, Western Alliance Bank, said in the announcement that the bank’s customers want the ability to make vendor payments with their Western Alliance Bank VISA commercial cards with a “Easy and intuitive installation system”.

Lance says Bora Payment Systems’ PDH addresses this need without needing to be directly integrated with their enterprise resource planning (ERP) systems.

“This is another way to help our customers see real breakthroughs in their business and ensure they are always benefiting from effective technology,” Lance said in the announcement.

Western Alliance Bank commercial card customers will have the option of making bill payments through a web portal. This configuration reduces complexity and cost, while increasing efficiency, according to the announcement.

Plus, the inclusion of Visa pseudo-account technology ensures that transactions are processed securely and with the least amount of effort, according to the announcement.

“Bora’s relationship with Western Alliance Bank reinforces the leadership role in commercial payments of both companies, providing customers with a way to improve efficiency through the automation of commercial card payables. ” Paul Musselman, vice president of sales, Bora Payment Systems, said in the announcement.

As PYMNTS noted previously, commercial card technology is still a key part of the digitalization of B2B payments – and as more financial institutions (FIs) aim to help their corporate customers adopt digital payments, their corporate card offerings have had to scale up to add value in new ways.

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NEW PYMNTS DATA: FOCUS ON AI: THE BANK’S TECHNOLOGICAL ROADMAP

About the study: The AI ​​In Focus: The Bank Technology Roadmap is a research and interview report examining how banks are using artificial intelligence and other advanced IT systems to improve credit risk management and other aspects of their operations. The Playbook is based on a survey of 100 banking executives and is part of a larger series assessing the potential of AI in finance, healthcare and others.







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