B2B Payments Today: Chewy Launches eCommerce Platform for Vets; Partnership Helps Contractors Afford Construction Materials
Today in B2B payments, Airbase gives businesses real-time information on spending habits, Sonoco and Coupa team on payments and Tazapay debuts a global B2B Escrow-as-a-Service offering. Plus, Biild and Procore team up to help construction contractors afford their materials, and Chewy debuts a vets-only eCommerce portal.
Tazapay Launches Escrow-as-a-Service With Global B2B Marketplaces
Cross-border trade digital escrow startup Tazapay will soon debut escrow-as-a-service (EaaS) in partnership with eight global business-to-business (B2B) marketplaces, with plans to have more than 20 platforms ready in the next several weeks.
Bluerickshaw, Complete Farmer, construcshare, Engineering-edge, Maalexi, Madeinindonesia, OneAgrix, and Refrens are the first B2B platforms to go live with Tazapay.
Rahul Shinghal, CEO of Tazapay, said in a press release on Wednesday (Sept. 15) the company is applying a solution in cross-border B2B transactions that streamlines verification and payments, while creating “trust between businesses and between platforms and their users.” Tazapay holds payments in escrow until confirming shipments.
Chewy Debuts Vets-Only eCommerce Offering
Online pet product retailer Chewy, Inc. recently launched Practice Hub, an eCommerce solution that helps veterinarians simplify pharmacy services and boost clinic revenues.
Practice Hub provides vets with Chewy’s expedited shipping service and Autoship subscription service for pre-arranged delivery of food and medication on a specified schedule. Veterinarians can set prices, create pre-approved medication prescriptions and can generate revenue when pet owners order items either at the clinic or on Chewy’s website.
The platform is an extension of Chewy’s Petscription platform, which is used by 8,000 clinics across the U.S.
Airbase Debuts Real-Time Visibility on Global Spend for US Businesses
Spend management platform Airbase will support domestic and international subsidiaries and currencies for spend management for businesses headquartered in the U.S., meaning companies with locations in different geographies can now use its spend management tools.
Airbase’s tools assist with spend management and combine workflows and payments across corporate cards, bill payments and employee reimbursements into one platform, to better manage global spending. The company automates approval workflows, accounting and payments.
Costly Construction Materials Just Got 4x Easier for Contractors to Afford
Construction material financing specialist Billd and industry software firm Procore are partnering on a new program for commercial subcontractors that quadruples the payback time on supplies to 120 days.
In their official announcement on Sept. 8, Billd and Procore said the program helps contractors by giving them access to upfront funds and enables suppliers to sell more materials with less risk, all in the name of project financing, materials procurement and project management.
Sonoco Taps Coupa to Advance Payments
Packaging solutions company Sonoco has joined forces with business spend management firm Coupa Software to extend Coupa Pay and virtual cards across Sonoco’s platform. Coupa Pay also offers Sonoco a single platform to process payments, invoices and expenses.
The collaboration gives Sonoco’s manufacturing plants improved oversight of pre-approved spending, along with streamlining payment processes.