Finexio's platform, the B2B payment network, delivers an electronic commercial payment capability which eliminates the high cost of paper-based check printing and mail expense for accounts payable departments, claims the company.
The Finexio B2B solution converts paper payments to electronic and identifies the direct bank deposit method available for the vendor. This solution integrates into enterprise accounts payables and procurement software platforms to embed electronic payments into the corporate buying and selling experience.
The Finexio network eliminates commercial paper check spend by identifying and routing payments through a unique "network of closed loop networks". Payments on the Finexio rails are pushed into a supplier's bank accounts at fees substantially lower than prevailing commercial payment costs. Finexio integrates into large payment aggregators, accounts payable automation, and procurement software platforms to enable them with a more efficient payment modality.
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