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MineralTree and Visa Partner on Real-Time B2B Payments Solution

Stephanie Dula   Oct 5, 2016      

MineralTree, an Accounts Payable (AP) and payment automation solution provider today announced a new partnership with Visa that has exciting implications for middle market companies looking to automate AP with virtual commercial cards. The integration of the MineralTree platform with Visa Payables Solutions brings a secure real-time payments functionality to business payables.

“We are honored to enter into this strategic alliance with Visa,” said BC Krishna, CEO of MineralTree. “It is the latest example of our commitment to provide middle market businesses with market-leading invoice and payment automation solutions that improve efficiency, optimize cash flow, mitigate risk, and support their growth by enabling them to do more with less. Using credit cards for business payables is something our customers want and need.”

The partnership allows financial institutions to earn interchange revenue by providing a Visa card option their customers can add into their existing set of AP payment methods. Customers achieve rewards and rebates, improved cash flow management, and the ability to time payments to get early pay discounts, transforming AP from a cost center into a revenue generator.

The most common ePayment methods used by today’s mid-market organizations are ACH, wire, and commercial card solutions. While each of these tools improves the data security and cost of payments, commercial card solutions are particularly appealing to today’s “Full Stack CFO.” This term refers to a leader that is at once a steward of its company’s critical assets and a catalyst for change in the company’s financial management strategies.

The MineralTree platform offers a number of key features including:

  • Out-of-the-box integration with Visa Payables Solutions for Visa virtual commercial card payments and supplier enablement
  • Direct integration with bank and credit card accounts for account balances and transaction reporting
  • Out-of-the-box two-way synchronization with common Accounting/ERP applications (e.g., Intacct, Microsoft Dynamics GP, NetSuite, QuickBooks and Sage 50)
  • Automated invoice data capture and online approval workflow
  • Payment authorization security and control: segregation of duties, dual approval, two-factor payment verification, authorization limits, Positive Pay support
  • Support payments by multiple methods: check, ACH, virtual credit card, and wire
  • MineralTree guaranteed protection against online fraud
  • Private-label support for bank branding

See the full press release here.

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