B2B Payments Today: Customers Bank On Forecasting B2B Payment Needs; Paystand And Sage Team On Instant B2B Transactions
Today in B2B payments, Customers Bank discusses how to forecast corporates’ B2B payments needs, and Paystand collaborates with Sage on instant B2B payments. Plus, Prelim discusses small business banking trends, Cashfree pairs up for B2B eCommerce refunds solutions and NorthOne links with Bankcorp Bank on small business banking.
Banks rarely have the resources needed to obtain deep insights about their small business customers — insights like the fact that most small business loan applications come in around lunchtime. Prelim CEO and Co-Founder Heang Chan explains why that finding speaks volumes about what small and medium-sized businesses (SMBs) need from their banking partners.
Cashfree, which lets businesses in India to accept payments and make payouts, is collaborating with eCommerce automation company Shipway to expedite the handling of cash on delivery (COD) order refunds, according to a Tuesday (May 25) announcement emailed to PYMNTS. The integration will significantly accelerate the COD refund workflow. This will lead to a “seamless and quick” COD refund process as well as “an enhanced customer experience, operational efficiency and lower costs,” according to the announcement.
Challenger bank NorthOne has joined forces with The Bancorp Bank to provide banking services to NorthOne customers, and with Galileo Technologies to bring new and improved processing services to customers, as announced in a press release on Tuesday (May 25). NorthOne said the partnership with Bancorp will allow customers to deposit checks with the NorthOne mobile app, access funds within minutes, and receive ACH payments and direct deposits without fees. Users can also withdraw cash from Cirrus ATMs around the globe without additional fees from NorthOne, and can transfer cash to NorthOne accounts at Green Dot locations.