Payment processing firm Noventis has partnered with accounts payable (AP) automation provider Nexus.
The pair will work together to offer virtual credit card payments for real estate suppliers.
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Under the arrangement, Noventis will utilise its processing platform to automate manual payments.
The platform converts checks into virtual credit card payments and delivers them to the company’s payment network of national and regional suppliers within hours.
This will bring electronic payments to suppliers who cannot accept conventional virtual credit card payments.
Nexus president and founder Jennifer Coolidge said: “With the Noventis partnership, Nexus can offer its utilities, insurance, and telecom suppliers an easy and automated virtual card payment process.
“Suppliers will be able to receive virtual credit card payments effortlessly and securely with no adoption requirements.”
Nexus offers Procure-to-Pay software to real estate companies for the management of the accounts payable process. The platform will automate manual AP tasks and offer complete visibility into suppliers, budgets and spend.
Noventis COO Blair Jeffery said: “Like Nexus, Noventis is committed to increasing efficiency and automating manual process for B2B payments.
“Our payment network and expertise in virtual credit card delivery, combined with Nexus’ industry-leading AP platform, show that even industries with inherent, longstanding barriers can reap the benefits of payment automation when fintechs work together.”
