Conferma Pay, the leading B2B virtual payment platform, today announced a strategic collaboration with Boost Payment Solutions, Inc. (Boost), the leader in optimizing the use and acceptance of commercial cards, providing Conferma Pay’s network of issuers and card holders with payment flexibility via Boost’s proprietary straight-through processing (STP) solution, Boost Intercept®.
The global B2B payments marketplace is estimated at more than $120 trillion, yet it is still dominated by antiquated payment methods that are time consuming, labour-intensive and produce inconsistent reporting data. In today’s complex economic climate, businesses struggle to onboard new suppliers quickly and do not have the appropriate tools to manage payments made by colleagues working remotely.
“Boost is excited to be working with Conferma Pay to deliver a powerful, STP solution that addresses many of the pain points associated with commercial card use and acceptance,” says Dean M. Leavitt, Founder & CEO of Boost Payment Solutions. “This collaboration will maximize commercial card acceptance by transforming what is often a cumbersome manual process into a completely seamless and touchless experience for the supplier community.”
Boost Intercept provides a secure, cost-effective payment method for commercial trading partners by removing the friction of manual processes and eliminating risk associated with sharing and storing sensitive data instructions. Additionally, important cash flow benefits and operational efficiencies are realized to maximise working capital for both buyers and suppliers.
Simon Barker, Conferma Pay CEO commented, “We are excited to welcome Boost to our expanding payment ecosystem. The move toward digitisation and automation in B2B payments has accelerated demand for innovative technology solutions delivering more flexible payment processes with better visibility of transaction flows. Boost’s capabilities will further expand the options available to our issuer community. “
About Conferma Pay
Conferma Pay is the B2B payments platform that connects business, their suppliers, and employees to realise the full potential of digitised commerce. Businesses leverage Conferma Pay’s ecosystem and next-generation payment stack to launch products quicker into new and existing markets. Conferma Pay is fully integrated with all the major card schemes and serves over 50 banking partners, who issue Conferma Pay-generated virtual cards in 100 currencies.
About Boost
As the leader in B2B electronic payments, Boost optimizes how commercial card payments are initiated, processed, received and reported. Boost’s technical innovations have transformed commercial cards into a cost effective, scalable and secure alternative to traditional payment methods. Boost features a global footprint that serves a broad spectrum of industries across 37 countries in North America, South America, Europe, Asia and Australia. Boost was founded in 2009, and is headquartered in New York, NY. Please visit us at www.boostb2b.com .
Conferma Pay is a global financial technology company. We design and integrate virtual payment systems that provides a more efficient, seamless and secure way to pay for for businesses.
Conferma Pay was born in Manchester in 2005. Since then we have connected over 700 TMCs, and directly integrate with all the major GDSs and OBTs. Our roots lie in corporate travel payment integration.
We enable our payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is our network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks.
Our ecosystem continues to expand to meet the growing requirements of our global customer base.
Conferma Pay and Boost Payment Solutions have committed to developing a “best-in-class” virtual payment solution in an extension of their partnership. The partnership seeks to
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