Payment solutions provider FLEETCOR Technologies has agreed to buy Nvoicepay, a provider of automated accounts payable (AP) solutions.
Financial terms of the deal were not revealed.
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FLEETCOR chairman and CEO Ron Clarke said: “Nvoicepay presents an exciting opportunity to accelerate growth of our Corporate Payments business by offering customers a simple way to pay all their accounts payable with one vendor.
“Through the combination of Comdata, Cambridge and soon Nvoicepay, we believe FLEETCOR will offer one of the most comprehensive domestic and international AP payments solutions available to businesses.”
Nvoicepay’s cloud based technology enables customers to make electronic payments to suppliers. The firm currently serves more than 400 businesses.
FLEETCOR’s card processing solutions coupled with Nvoicepay’s disbursement capabilities will facilitate payments of the entire accounts payable costs for businesses.
These include domestic as well as international payables.
Nvoicepay CEO and co-founder Karla Friede said: “Nvoicepay’s business-to-business payment platform allows our customers to pay 100% of their supplier invoices electronically and we are excited to bring this solution into the broader FLEETCOR family.”
Other acquisitions by Fleetcor:
FLEETCOR snapped up Cambridge Global Payments, a B2B payments provider, in 2017.
In 2014, FLEETCOR announced the acquisition of Comdata, a provider of fleet, virtual and gift card solutions.
