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Shopify has added Melios B2B embedded finance offering to its commerce platform.This collaboration has created an integrated accounts payable AP solution called Shopify Bill Pay that enables merchants to pay and manage bills from vendors and contractors through the same Shopify admin they use to run their business, the companies said in a Monday April 24 press release. Shopify is committed to making commerce better for everyone, which is why we teamed up with Melio to power Shopify Bill Pay and free up our merchants time and resou stanley cup rces, so they can foc stanley termos us on growing their business, Shruti Patel, global head of merchant services partnerships and monetization stanley termos at Shopify, said in the release.PYMNTS research has found that businesses increasingly care about offering online payment methods, tools and channels in the B2B space that embedded finance can easily enable.This move has been driven in part by the growing number of millennials and members of Generation Z who are involved in their companies buying decisions and have brought their payment preferences into the B2B payments ecosystem, according to the Embedded Finance Tracker庐, a PYMNTS and Galileo Financial Technologies collaboration.Consequently, merchants are looking to consumerize their B2B ecosystems 鈥?shaping greater opportunities for embedded finance in the B2B payments space.With the new Shopify Bill Pay, merchants can specify both the method they use to pay bills and the way the vendor receives the payment. The Dpcs No Matter The Outcome, Swag Makers Won This American Election Season
Blockchain may get the lions share of its attention in reference to bitcoin. And, indeed, the prospect of a new digital currency that has no central authority may engender heated debate.But blockchain, the recordkeeping technology that helps track the currency itself, has the added advantage of being flexible enough to be adapted across a variety of uses. One company, AlphaPoint, recently announced the availability of StreamCore, a blockchain-powered database that can be built, according to Joe Ventura, AlphaPoints chief executive kubki stanley officer, from the stanley kubek ground up. StreamCore is geared specifically for financial institutions and can be configured to serve a number of applications, ranging from accounting to risk management.Applications built on top of and based on blockchain have significant benefits for FIs, said Ventura, who pointed to a recent study by Sa stanley cup ntander InnoVentures, which estimated that blockchain technologies will help FIs cut infrastructure costs by between $15 billion and $20 billion annually by 2022, as the distributed ledger system can help speed payments but also eliminate the need for oversight via central authorities. Perhaps it should be no surprise that an increasing number of banks have been joining initiatives bent on mapping frameworks for the blockchain use.For cross-border transactions, and for B2B, said Ventura, current transaction flows need infrastructure, especially as interaction occurs across several companies. But with StreamCore, across so many |
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