Brex Launches Embedded Payments Solutions for B2B Software Vendors
Brex has launched an embedded payments solution designed to make it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards.
The new Brex Embedded payments solution complements the company’s corporate card and spend management platform for startups and enterprises, Brex said in a Wednesday (Sept. 18) press release.
“Brex’s vertically integrated corporate cards, payment processing and global money movement infrastructure has been used by tens of thousands of companies to help them save and control spend for the past seven years,” Brex CEO Pedro Franceschi said in the release. “We’re excited to democratize access to Brex’s best-in-class payments technology with Brex Embedded payments and unlock global payments everywhere.”
As an application programming interface (API)-driven solution, Brex Embedded enables businesses to embed payments into their products without having to build financial products in-house, according to the release.
The solution leverage APIs and issuing integrations — including Mastercard’s virtual card platform — to enable software vendors to integrate Brex’s global corporate card and payments capabilities directly into their platform, the release said.
Businesses that have done so can then enable their own customers to make fast, secure global payments in virtually any currency, per the release. Vendors using this solution also benefit by automating their existing financial workflows and payment reconciliation.
The emergence of embedded finance has supercharged the digital transformation of B2B payments and commerce, PYMNTS reported in August. Embedded finance can speed the processes involved in B2B transactions — including invoicing, purchases orders and reconciliations — by integrating payment solutions directly into B2B platforms.
In another recent development in this space, Jaggaer and Bottomline said Sept. 5 that they partnered to provide companies with more payment options for B2B transactions.
This collaboration will see the integration of Bottomline’s Paymode business payment network and its Premium ACH offering, virtual card and other payment modalities into Jaggaer’s B2B payment solution, Jaggaer Pay.
In August, Numeral and HSBC Innovation Banking UK teamed up to enable embedded payments for innovative companies like FinTechs, InsurTechs and marketplaces. With this collaboration, companies that are clients of both partners can embed HSBC Innovation Banking UK’s payment and account services via Numeral’s APIs.
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