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NewProduct

• Dedicated virtual cards: Merchants can assign a
payment card to a specific vendor to improve effi-
ciencies and mitigate risk.
• Tokenized and vaulted: The solution enables mer-
Company: Billtrust chants to remove payment card data from scope by
tokenizing and remotely storing the data in a vault
Product: Virtual Card Capture instead of on their servers.
Website: www.billtrust.com • Push card notifications: Fully automated vendor
Contact: partners@billtrust.com payment files can be uploaded directly to a payment
card issuer's website, eliminating the need to send
Modernizing AR with virtual • Email integration: Billtrust Virtual Card Capture
payment files to an intermediary or printer.

credit card payments software interfaces with email sorting, efficiently
mapping to thousands of invoices across an enter-
prise. These emails can be sorted and mapped to in-
voices, with full or partial card numbers, and sent to
illtrust, a payment technology service provider, suppliers.
created Virtual Card Capture, a modernized
business-to-business (B2B) accounts receivable Visa STP integration
B solution. The cloud-based service enables mer-
chants to pay vendors with stored, tokenized credit cards Billtrust partnered with Visa Inc. to add Virtual Card
and one-time use virtual cards. Designed to improve effi- Capture capabilities to Visa's Straight Through Processing
ciencies, the system replaces paper-based remittances and (STP). The companies said the integration has further
manual back-office processes with an advanced, Payment enhanced Visa's accounts receivable solution. Visa STP
Card Industry (PCI) Data Security Standard (DSS)- merchants initiate commercial card transactions from their
compliant framework, Billtrust representatives stated. accounting systems. Visa can now route payments made to
Billtrust suppliers directly to Billtrust. Billtrust processes
"With the increasing popularity of virtual cards in the B2B the transactions and deposits funds into vendors' bank
market, we're solving what is quickly becoming a very accounts on the next business day, company representatives
critical pain point for [accounts receivable] teams – one noted.
that impacts their cash flow, customer satisfaction and
operational efficiency," stated Flint Lane, Chief Executive Taira Hall, Vice President, US Partnerships and New
Officer at Billtrust. Initiatives at Visa, said partnering with Billtrust has
solved key pain points in the B2B sector. "Collaboration
Nick Babinsky, the company's Director, Business with leading partners like Billtrust helps our financial
Development, said, "Billtrust replaces manual entry of institution clients streamline the B2B payments process for
credit card data with a touchless process that embeds their commercial customers, better support supplier needs,
payments within remittance files, optimizing Level II and and simplify the process suppliers have to go through in
Level III interchange and ensuring PCI DSS compliance." order to accept a payment," she stated.
Interchange optimization Lane added, "The integration of Visa's Straight Through
Processing and our Virtual Card Capture enables suppliers
Merchants in the B2B sector can reduce interchange rates to more expediently manage a traditionally manual,
by capturing additional data fields within a credit card cumbersome payment process." Babinsky said he expects
transaction. Billtrust Virtual Card Capture was created to the program to rapidly scale in the B2B sector, due to its
automatically populate this transactional data, eliminating two-pronged value proposition, described as follows:
manual keying and accelerating payment acceptance. In
addition to enabling B2B merchants to qualify for Level • Lower interchange rates: In addition to automatically
II and Level III interchange rates, these PCI-compliant routing and consolidating remittances, the
solutions replace previously manual reconciliation partnership enables B2B merchants to qualify for
processes, Babinsky noted. Visa's exclusive STP rates. "Any merchant who signs
up will have access to Visa's STP rates," Babinsky said.
Company representatives also listed the following "Merchants can enroll their buyers and bring STP to
additional features and benefits of Billtrust's Virtual Card the masses."
Capture: • Enable push payments: The solution has the ability
• One-time use cards: The solution supports one-time to push payments to merchants, so banks no longer
cards created by issuers. These payment methods are have to send emails. "A bank can add Virtual Card
designed for specific invoices, events and transac- Capture to an STP-enabled merchant and automate
tions. settlement," Babinsky stated.

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