ORLANDO, Fla.--(BUSINESS WIRE)--Viewpost, the secure B2B network for electronic invoicing, payments and cash management, today announced a partnership with Comdata, one of the largest commercial credit card issuers for MasterCard in North America, to give businesses an option to pay their suppliers with virtual credit card transactions.
A virtual card—or ePayable—is a single-use, 16-digit virtual credit card which can be used to securely and quickly make supplier payments with good funds. The unique characteristics benefit both the payer and payee who experience improved cash management, control and security.
“We’re excited to partner with an industry leader in B2B credit card transactions to bring this capability to our enterprise customers on the Viewpost network,” said Pat McMonagle, EVP, Director of Payment Operations at Viewpost. “Comdata’s technology is a natural fit for making virtual credit card payments available to customers seeking to further improve operational efficiency and cost savings.”
“Comdata is proud to be the virtual card provider of choice for a FinTech company as innovative as Viewpost,” said John Molnar, SVP of Business Development at Comdata. “We are solely focused on improving business-to-business payments and helping organizations minimize the pain and hassle of paper checks. Viewpost has built a business transaction network that could change the future of payments, and we’re excited to be a part of its evolution.”
Credit Card Payments are Critical
In a recent Viewpost Online Invoicing and Payments survey, 65 percent of businesses ranked credit cards as a cash management service that is critical to running their business, and 16 percent stated that using credit cards were the preferred method of making payments. With instant access to virtual credit card payments (ePayables) on the Viewpost network, businesses will now have access to check, electronic funds transfer and virtual credit card payments at the touch of a button. With this additional capability, Viewpost further demonstrates its commitment to simplifying and democratizing access to complex corporate transaction services.
This partnership improves operational efficiency for businesses on both sides of the virtual credit card transaction. Customers will be able to make virtual credit card payments with the same speed, simplicity and security that have become the hallmark of Viewpost. What’s more, by providing the use of virtual credit cards to pay normal-course supplier bills, Viewpost is bringing much-loved card rewards to corporate payers across their total spend volume.
Comdata is a leading provider of innovative B2B payment and financial technology. By combining its unique capabilities in technology development, credit card issuing, transaction processing and network ownership, the company helps clients build electronic payment programs that positively impact their bottom line and operate their businesses more efficiently. Comdata is one of the largest commercial issuers of MasterCard, and the largest fuel card issuer, in North America. For more information, visit www.comdata.com.
Viewpost North America is revolutionizing the way businesses transact with each other. Viewpost built the most trusted open business network to empower businesses of all sizes with real-time cash management for anytime operating decisions. On the secure Viewpost network, companies connect and exchange electronic invoices and payments with unprecedented ease and visibility, accessing working capital on demand. Enterprise clients are using Viewpost to cut costs, increase efficiency and improve cash management, including Accenture, Florida Hospital Medical Center, Georgetown University, the Orlando Magic and Whole Foods Market. With enterprise-grade security, including ISO 27001 and SSAE16 audited certifications and the TRUSTe Privacy Seal, Viewpost is partnering with financial institutions to bring cash management tools to business customers at U.S. Bank, Bank of America and Fifth Third Bank. Viewpost innovation has been awarded Best in Show by Barlow Research, Best CISO/CSO by FireEye Cyber Defense Summit, CSO50 Award (three-time honoree) by IDG’s CSO, and Best B2B Payments Platform by Tradestreaming. Since Viewpost was opened to the public in early 2015, the total invoices presented and payments processed has reached $68.3 billion across the network. Founded in 2011, Viewpost is headquartered in the Orlando area with additional teams in Boston, Minneapolis and San Francisco.