Optal has been promoting a new approach to B2B payments for several years now. Our efforts are starting to make a real difference to finance departments all over the world. But there’s always more to do, which is why we like to get out of the office as often as possible, listening to the market and sharing our vision with peers.
One such opportunity came last week at the Commercial Payments International (CPI) Europe Summit in London. As the only event dedicated to commercial cards and payments in Europe, it was an invaluable opportunity to cement relationships and discuss the exciting tech-driven future of an industry Optal stands at the forefront of.
At the show
Innovation in the commercial payments space has been a long time coming. Consumers now have a wealth of exciting new payment options, from wearables to smartphone-based platforms like Apple and Google Pay. Yet in the B2B sector, up until now payments have been seen simply as a cost of doing business.
Optal has played a key role in the development of B2B payments innovation over the past few years. We’re delighted to see our Invapay solution transforming the way companies across multiple sectors treat supplier payments.
Optal’s product, Invapay, revolutionises the traditional card model by making supplier payments frictionless. With our platform there’s no need for the vendor to sign an acquiring agreement, rent a card terminal or double-key invoice information to provide the data required. This has enabled Invapay to flow transactions for the traditional low-value payments associated with commercial cards to suppliers who do not accept card. We’ve also opened the gateway to using a commercial card to pay for low volume, high value spend such as tax, rent and utilities.
This is fast becoming the most effective way to use unutilised credit whilst providing real working capital benefits for corporates. We fully expect 2019 to be the tipping point when finance leaders began to sweep away the old and embrace a newer, more optimised approach to B2B payments. Make sure you’re not left behind. Read our Invapay Solutions Guide here.