Nexus launches solution that allows SMBs to accept payments through a virtual card

According to the press release, the payments solution is called NexusDirect and allows sole proprietors and small business suppliers – such as those in lawn care, pest management, marketing services, facility management, and others – to get payments directly into their bank accounts by using a single-use virtual card. The suppliers won’t have to provide banking details to each customer or acquire a point-of-sale system that is currently needed to process virtual cards.

With the NexusDirect solution, the supplier receives a highly secure virtual card, which is sent digitally to fund a single transaction. All the manual work to process the card is done by Nexus and WePay for the supplier. Once the buyer pays for the purchase and authorizes the card, the supplier sees the money in their bank account, minus the predictable card transaction fees.

Overall, the solution has benefits for buyers or Nexus customers who use the Nexus AP automation and payments platform, as instead of writing checks to these small suppliers these buyers can pay them with the NexusDirect virtual solution. They can track each of these payments right within their Nexus platform, which is designed to work with many financial solutions and can integrate easily through APIs.