B2B payments today: Onit, Linear, Yooz

Today, in B2B payments, Onit explores the tightening of corporate legal spend management and Linear reflects on the changing landscape of small business lending. In addition, Veem expands its local payment service to small businesses in Canada, Yooz launches its accounts payable software in Ireland and Chaser introduces a B2B installment payment tool.

Bringing down the hammer on excessive corporate legal spending

When legal departments receive stacks of complex legal invoices that are five feet high, approving these invoices for Accounts Payable (PA) services becomes much easier than reviewing fees for compliance and accuracy. Onit CEO Eric M. Elfman explains the growing problem of excessive and misguided legal spending, which will increase as corporate legal budgets increase.

Small Business Lenders Find New Paths to Funding Bounce

The expectations of small business borrowers in a post-COVID environment can be difficult for banks and alternative lenders. Fortunately, FinTech innovation has opened up new avenues for small businesses seeking capital. Linear CEO Sam Graziano says the current climate has opened up new avenues for lenders to reach borrowers.

Veem expands its local payment service for SMEs in Canada

Online payment provider Veem announced Wednesday, June 2, that it has extended its national toll-free payment service to Canada. Known as Veem Local for Canada, this tool includes electronic funds transfers and offers Canadian businesses, including Quebec, a simple and comprehensive solution for payments between provinces and territories. Features include no funds cap, payment workflow solutions, integrations with QuickBooks and Xero, and free features like invoice capture and multi-level approval flow.

Yooz deploys new AP software in Ireland

Yooz has launched its automated accounts payable (AP) Yooz Rising offering in Ireland, according to an announcement. The software, used by more than 1,000 organizations, has also been deployed in France, the United Kingdom and the United States. Yooz Rising is a comprehensive offering that meets the three essential requirements of modern organizations, according to the announcement. It is supposed to provide live automation from any location and anytime, with the aim of providing resiliency and continuity with full traceability and security.

Chaser launches installment plan options for B2B customers

Accounts receivable (AR) automation software company Chaser has deployed a payment plan feature that allows users to offer payment plans to their customers and automatically search for payments on those installments during the periods they want. may set, according to an announcement on Wednesday, June 2. “The pandemic and the current global economy have made it increasingly difficult for companies to pay each other. Our team felt that offering this feature would help remove barriers that could make payment for businesses more difficult. By giving our customers the ability to offer payment plans, they help their own customers be able to repay them more easily, ”Chaser CEO Sonia Dorais said in the announcement.

Learn more about B2B payments:

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NEW PYMNTS DATA: STUDY ON CRYPTO-CURRENCY PAYMENTS – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use – and how merchant acceptance can influence merchant choice and consumer spending.





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