Rethinking Checks’ Role In B2B Payments Friction
Paymerang CEO, Nasser Chanda, recently spoke with PYMNTS about the evolution of B2B payments—in particular, the shift to electronic payments and the continuing role of traditional paper checks. Since our story began in 2010, we’ve had one simple goal in mind: to facilitate electronic supplier payments and make business payments easy, for payors and payees alike.
Paymerang recognizes that vendor relationships are the lifeblood of our clients’ businesses—happy vendors enable successful operations—and we do not want to disrupt that relationship long-term. We are flexible in working with vendors during the enrollment process, offering choice and ensuring that payment settlement is friction-less, whether by electronic payment or check. Typically, these suppliers recognize that their customers want to shift from paper checks to more secure and efficient methods of payment, such as a virtual card or ACH. Flexibility in working with vendors and persistence in settling payments has allowed Paymerang to keep vendors happy while achieving a world-class electronic payment acceptance over the years. Our payment network spans 70,000+ suppliers from coast to coast, with 75% receiving electronic payments over traditional checks.
You can view the full PYMNTS article “Rethinking Check’s Role in B2B Payments Friction”.