The way businesses pay each other is transforming dramatically. While some 40 percent of businesses still regularly pay by paper check, COVID accelerated a shift toward digital business-to-business (B2B) payments that’s offering greater transparency, greater functionality, and greater speed than ever before.
That’s why we’re so excited to announce our partnership with Speedchain, a cloud-native platform designed from the ground up to offer a comprehensive set of payment services. Through this partnership, Speedchain will leverage Highnote’s card issuance API platform to build a virtual card payments solution for accounts payable as well as a physical purchase card solution for employee expenses. Highnote’s cloud-native platform allows Speedchain to deliver its members numerous advantages, such as advanced spend and velocity controls, enriched transaction data, a drastic reduction in onboarding times for businesses, and elimination of repetitive manual tasks during financial reconciliation.
“Our members are focused on innovative, forward-thinking solutions that modernize their accounts payable and corporate expense workflows,” says Daniel Cage, CEO of Speedchain. “Our partnership with Highnote compounds our value proposition by building on top of Highnote’s powerful card issuance and payments platform. We are thrilled to join with a partner that aligns with our mission and serves our members in such an impactful way.”
Highnote and Speedchain are both purpose-built from the ground up to work with the tools of today, not reformatted tools borrowed from earlier technology paradigms. Because of this, they’re both uniquely positioned to serve Speedchain’s fast-growing market of enterprise members who want speed and transparency to ensure their vendor relationships are well-maintained, get greater control over team spend, as well as garner unique benefits from their spend in the form of targeted offerings and recommendations they can use.
Now, when members go to compile invoices onto the Speedchain platform, work to streamline their accounts payable, resolve corporate expenses, or issue purchase cards to employees, they will have the added benefit of doing so through the most modern card issuer-processor and program management platform in the industry today. This means that they:
“Speedchain truly understands the need modern enterprises have for managing their vendor and supplier relationships,” says John Macilwaine, CEO of Highnote. “We are excited about our partnership with Speedchain as it highlights the differentiating capabilities we’ve built to accelerate the digital transformation of B2B payments. This partnership fuels our shared mission to unlock financial experiences built for tomorrow, not yesterday.”
If you’d like to see how we can do the same for your company, get in touch here.
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