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Plastiq, Ramp Collaborate On Supplier Payments By Card

Plastiq and Ramp are collaborating to help companies pay for almost every kind of corporate cost with the Ramp card. Clients can monitor, manage and control all of their spending in one location — even larger costs that don’t usually fit on a credit card, according to a Thursday (Feb. 25) announcement. Plastiq President and Chief Operating Officer Sameer Gulati said in the announcement that access to credit and the capacity to...

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Western Union Boosts Business FX Payments

Western Union Business Services, the payments arm of Western Union, is looking at expanding its cross-border payment services for business customers, a press release says. According to the release, Western Union Business Services has integrated SWIFT Global Payments Initiative and also boosted its international currency options. "We are continuously advancing our capabilities to give our clients the tools to access the growing...

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Barclays Introduces Support Package To Help UK SMBs

To assist with Britain’s economic recovery on a local level, Barclays is offering a customized support program to local companies. The package is initially geared toward Barclays’ Rebuilding Thriving Local Economies (RTLE) pilot regions, which include Great Yarmouth, Taunton Deane, Kilmarnock and Bury, according to an announcement. Barclays says the RTLE program will offer a spectrum of support to communities and companies, as the...

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Advanced Fraud Solutions Debuts Tool To Fight Vendor Fraud

Advanced Fraud Solutions (AFS), which works in deposit fraud detection software, has rolled out AFS Positive Pay, which will help financial institutions (FIs) and enterprise customers look at changes in payments information to prevent fraud, according to a press release. AFS Positive Pay will allow FIs and businesses to monitor payments and receive immediate notices when payment information from vendors, including routing numbers,...

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Bookipi Teams With Fat Zebra On SMB Invoice Payments

Bookipi, a company that generates invoices for small companies and freelancers, is poised to roll out its new BookiPay invoice payments system in Australia through a new collaboration with the financial technology firm Fat Zebra, according to an announcement. “We look forward to partnering with Fat Zebra to launch our invoice payments platform. Australian small businesses rely on their invoices getting paid and getting paid on time...

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MUFG Debuts Green Deposits For B2B Customers

MUFG Union Bank N.A. has announced a new green deposits feature to help corporate and commercial clients invest in environmentally sustainable projects, according to a press release. MUFG will use the program to invest deposits from corporate customers in environmental, social and governance (ESG) projects, such as renewable energy, energy efficiency, green transport, sustainable food, agriculture and forestry, waste management and...

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OnDeck Teams With HomeAdvisor On SMB Financing

OnDeck, an Enova International brand, has collaborated with HomeAdvisor to help businesses and tradespeople on the HomeAdvisor platform to access financing, according to a Monday (Feb. 22) announcement. “Through this partnership, HomeAdvisor professionals will have timely access to OnDeck's suite of small business financing options, allowing them to remain focused on managing their businesses and the projects they're taking on,”...

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SMBs Seeking PPP Loans Frustrated By Typos, Glitches

The U.S. Paycheck Protection Program (PPP), renewed this year after Congress finally enacted a stimulus package, has been hobbled by a range of problems, The New York Times reported. Martha Theirl, in trying to get a PPP loan for her Massachusetts physical therapy business, spent hours battling three levels of customer-service support at her bank. “It’s been a nightmare,” she said. The sources of businesses’ problems in...

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Biden Administration Puts New PPP Focus On Smaller, Minority-Owned Firms

President Biden plans to rework the U.S. Paycheck Protection Program (PPP) so that smaller companies, those in underserved communities and those owned by minorities gain increased access to the program. The widely reported changes will kick off Wednesday (Feb. 24) with a two-week span when the program will only accept applications from those kinds of companies. During that 14-day period, the Small Business Administration (SBA) will...

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FinTech Brex Applies For Bank Charter

San Francisco-based Brex, which makes financial management software for businesses, announced Friday (Feb. 19) it has filed to open an industrial bank in Utah, according to a press release. Industrial banks are distinct from other forms of banks in the U.S. in that they don’t need to be owned by bank holding companies. Brex’s bank, if approved, would be based in Draper, Utah, and would be called Brex Bank, according to the...

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BCB Group To Help B2B Treasuries Adopt Crypto

BCB Group, which works in global digital finance, has rolled out a new program to help get corporate treasury departments to embrace digital assets, a press release says. BCB works to provide business accounts and trading services for the digital asset economy. Companies have begun realizing the value of having bitcoin or other digital coins on their balance sheets as bitcoin's price is still bullish. BCB's solution will help treasury...

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Walmart Canada: Digital Shoppers Cause For New Supplier Fees

The CEO of Walmart Canada and another top executive are publicly defending the chain’s new assessment on suppliers of a 1.25 percent fee on all goods, and an additional 5 percent fee on eCommerce sales, Canada’s Financial Post reported. The fees have generated pushback from groups representing businesses such as farms that supply Walmart Canada, according to the report. The executives made the remarks quoted by the Financial Post...