Finexio Announces Strategic Partnership With Mastercard
ORLANDO, Fla., March 12, 2019 (Newswire.com) - Finexio, the smart B2B payment network, announced today that it has entered a strategic partnership with global financial services leader Mastercard. This partnership allows Finexio's clients to pay suppliers via Mastercard branded virtual cards, which offer best-in-class security, worldwide acceptance, and speed. The two companies will collaborate on efforts to advance the adoption of electronic payments within the U.S. business-to-business market. Finexio is a venture-backed payments company that has experienced significant growth in facilitating payments for a variety of large businesses across the country.
"The electronic payments space is growing at an accelerated rate, however, traditional paper checks remain the primary vehicle used for business payments. In partnering with Mastercard, we are now able to introduce more businesses to the efficiencies of electronic payments," said Ernest Rolfson, CEO of Finexio. "We are also excited that our existing clients will realize immediate benefits from Finexio's new access to MasterCard's leading payment technology."
Established to save middle-market firms time and money by eliminating paper checks from accounts payable payments, Finexio is currently working with companies like The General Insurance and Morgan&Morgan LP. The company is led by the knowledge that thousands of American businesses can and will benefit greatly from the savings, ease and security that electronic payment methods provide.
"Around 60 percent of businesses are still cutting checks to pay their suppliers, an inefficient process that is fraught with delays and paperwork," said Marie Elizabeth Aloisi, senior vice president, Business Development, North America, Mastercard. "Using our products and solutions, businesses can now design efficient and secure payment processes and deliver the choice, transparency and immediacy that their partners demand."
Added Rolfson, "Partnerships like this one with Mastercard are integral to Finexio sustaining its growth. Their innovations such as Mastercard Track and the B2B Hub are in total alignment with our goal of creating impactful efficiencies within the business payments space."
About Finexio
Finexio simplifies B2B payments for middle and large market companies by eliminating paper checks from accounts payable payments. Finexio's comprehensive Accounts Payable "Payments as a Service" solution identifies the optimal payment acceptance method for all suppliers and leverages proprietary analytics to generate maximum conversion rates of suppliers to electronic payments. Finexio's intelligent payment network identifies, delivers, and supports ten forms of payment, generating revenue and cost savings for AP departments while offering complete transparency and control of the payment process. To learn more, visit Finexio's website at https://finexio.com.
Source: Finexio