B2B Today: TIS Secures $53.5M Debt Funding
Today, in B2B payments, Payoneer and Fiserv are streamlining cross-border payments, while Dave Clark is stepping down as CEO of Amazon Worldwide to lead logistics company Flexport. Additionally, Fiserv is adding digital check payments through Carat, and Modulr is launching a real-time European business payments offering.
Clark, the former CEO of Amazon WW, to lead supply chain company Flexport
Less than a week after stepping down as CEO of Amazon Worldwide, Dave Clark said he will assume the same role at logistics company Flexport in September. Based in San Francisco, Flexport offers services in the areas of transportation, commercial management and logistics management.
Amazon announced last week that Clark would step down as chief executive of Amazon Worldwide Consumer effective July 1, after 23 years with the company.
B-Stock and ReverseLogix Partner to Streamline Returns Management
On Wednesday, June 8, end-to-end returns management platform ReverseLogix partnered with B2B recommerce marketplace B-Stock to streamline the product return process, according to a joint press release.
“In today’s e-commerce driven world, returns management is critical to improving profitability and delivering a superior customer experience,” said Gaurav Saran, CEO of ReverseLogix, in the announcement.
According to Statista, global e-commerce sales are expected to exceed $7 trillion by 2025, making reverse logistics technology a significant opportunity for organizations as part of their customer experience after the initial point of sale.
Fiserv adds digital checks to payment options
Financial services technology company Fiserv said it has expanded the portfolio of payment options for businesses using its Carat operating systems to include digital checks.
Digital payments at Fiserv are part of the company’s Carat operating system, which allows customers to offer their customers the ability to choose their preferred payment methods, including an ACH deposit to their bank account, credit on their credit or debit card, a prepaid card or digital wallet or a check.
With the new offering, recipients requesting a check can opt for a digital check that is delivered by email in minutes. The customer can then print and deposit the check physically or digitally.
German B2B Payments Platform TIS Receives $53.5M Debt Funding
Treasury Intelligence Solutions (TIS), a German B2B payments company, said it has entered into a credit facility with Kreos Capital to provide up to 50 million euros ($53.5 million) in funding, it announced on Tuesday 7 June a press release, which will fund TIS for product innovations, potential acquisitions and expansion.
The debt financing, which closed in early May, comes after TIS raised $40 million in equity financing.
TIS uses a cloud-based platform to streamline outbound payments for global corporations, banks, and trade vendors.
Modulr unveils SEPA Instant Service for real-time European business payments
Integrated payment platform Modulr on Tuesday (June 7th) launched a real-time euro payment service based on the pan-European SEPA Instant platform, which is available 24/7 and settles funds in 10 seconds, according to a company press release.
The new service will allow customers to deploy real-time integrated euro payment proposals via Modulr’s application programming interface (API), allowing them to send and receive payments immediately under their own regulated status or that of Modulr. Businesses can integrate SEPA Instant into existing software via the Modulr API.
Payoneer and Fiserv improve cross-border trade payments
Payments commerce technology platform Payoneer and payments technology and financial services company Fiserv teamed up on Tuesday, June 7 to streamline the way businesses make cross-border payments, according to a joint press release.
Businesses can now access Payoneer’s payment platform through Fiserv’s Carat operating system, reducing costs associated with global payments, depending on the version.
According to McKinsey’s Global Payments Map, payments in international markets account for up to $200-250 billion in volumes, a figure that is expected to grow 20-30% annually in the coming years.