Connecting businesses to make it easier to pay and get paid. For many companies, sending invoices and paying vendors had not changed much in the past hundred years. Companies prepare and email invoices while their customers mail cheques. Even if companies use invoicing software and accept credit card payments, they typically have little visibility into the status of B2B payments.
Reinventing B2B Payments
With nanopay, companies can send payment requests to customers and make payments to vendors with complete transparency throughout the process. By connecting businesses in a secure B2B payment network, companies are better able to control cash flow and make payments without having to exchange sensitive banking information.
In addition, B2B trade is becoming increasingly global, requiring cross-border payments as businesses exchange goods and services with international trading partners.
High Processing Cost
Fastest methods of payment can cost up to 2%
Lack of Metadata
Some platforms lack integrated metadata and invoice data
Settlement could take 2-3 days (or longer for cross-border)
Financial account information stored in unprotected manner
50% of U.S. B2B spend ($12 trillion) remain on paper check
Key Benefits to Businesses
nanopay provides key benefits to businesses when processing B2B payments.