Billtrust Strengthens Business Payments Network (BPN) with WEX Partnership
BPN Enables WEX to Increase Electronic Payment Acceptance Among B2B Suppliers
Billtrust, the leader in B2B order-to-cash solutions, announced that Portland, Maine-based WEX, a leading financial technology service provider, has joined Billtrust’s Business Payments Network (BPN), enabling their buyer customers to automate payment delivery to suppliers through the network. Since its launch in late 2018, nearly 800,000 transactions have been processed through BPN, saving suppliers an estimated 74,000 hours of manual work while offering $275+ billion in available supplier invoice value.
With $35 billion in global B2B processing volume, WEX’s participation expands BPN’s reach to suppliers wishing to receive touchless electronic payments while converting transactions to the buyer’s preferred format.
“We’re proud to have WEX as a part of our growing platform,” said Nick Babinsky, Vice President & General Manager, Business Payments Network at Billtrust. “WEX is a market leader in B2B payments, and we’re thrilled that they’ve chosen to incorporate BPN as a part of their strategy to deliver value to the corporate and financial institution clients they serve.”
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“Our organizations share the view that supplier experience is a vital component to customer satisfaction,” said Dylan Jones, Sr. Director, Supplier Services at WEX. “We’re pleased to partner with Billtrust to solve for the ‘last mile’ of automated settlement and reconciliation. This will enable frictionless payments to the suppliers of WEX customers.”