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CompanyProfile

Add profit, remove

friction with

blockchain-based ISO/MLS contact:

AP solution Tyler Mihalik

Director of Channel Partnerships
oreChain Technologies was launched in 2020
by the company's founder and CEO, Chris tyler.mihalik@corechain.tech
Aguas, a payments industry leader who want- https://corechain.tech
C ed to create the first embedded B2B payments
network built entirely on distributed ledger technology. 475-655-0528

In addition to wanting to help enterprises transition from enable suppliers to improve cash flow by receiving pay-
paper checks, Aguas saw a need to modernize vendor ments before they are due. The company noted that quali-
payment processing and reduce risk of fraud by leverag- fying customers can obtain lines of credit on the platform
ing advanced digital payment methods such as virtual of up to $1 million, based on their payment volumes and
payment cards and enhanced ACH payments. The result- purchase order activities.
ing platform and trust network, CoreChain Technologies,
is designed to streamline B2B payments and help suppli- Easy ERP integrations
ers unlock working capital tied up in approved but un-
paid invoices. While CoreChain Pay is a direct-to-customer solution,
CoreChain pointed out that it partnered with several
The platform uses blockchain technology to reduce relat- leading ERP platforms, including Odoo, Acumatica, Sage
ed costs of processing payments, automate manual pro- and Scanco, expanding its footprint by sharing its em-
cedures and incentivize payers with cash back offers that bedded payment technology with a diversity of business
are generated by payment streams. Additionally, the com- partners, from small and midsize companies to large en-
pany helps small businesses access lines of credit up to $1 terprise organizations.
million, based on their payments volumes and purchase
order activities, the company stated. Numerous B2C businesses have embedded payments into
online and mobile offerings to drive profitability, custom-
Automated payment streams er loyalty and gain deeper customer insights, CoreChain
representatives stated, noting that B2B companies are just
Tyler Mihalik, director of channel sales at CoreChain, de- beginning to leverage embedded payment capabilities.
scribed the company's flagship product, CoreChain Pay, For ERPs looking to fill that void, they added, CoreChain
as a direct-to-customer payments automation product. is a timely solution, and its blockchain framework is de-
signed to facilitate secure and efficient B2B payments.
"Since the launch of CoreChain in 2020, the company's
technology has been engineered as a white-label platform, Poised for client, partner growth
making it available to ERPs, banks or other payment net-
works looking to offer a B2B payment solution built with Noting that 65 percent of North America's $40 trillion B2B
enterprise blockchain," he said. "CoreChain Pay is the payments market still relies on paper checks, CoreChain
company's first direct-to-customer payment automation said it is bringing blockchain-built solutions to this mas-
product, allowing companies to simplify business pro- sive market, and its supply chain finance solutions are
cesses, eliminate expenses, and mitigate payments fraud." simple and easy to integrate. By integrating the CoreChain
B2B payments and supply chain finance solutions into
Removing AP friction their product mix, ERPs, marketplaces, software solution
providers, banks, neobanks and financial institutions can
Mihalik further noted that CoreChain Pay eliminates deliver an integrated payments solution to enterprise cli-
challenges that have long plagued finance and accounts ents, the company stated, adding that CoreChain partners
payable managers. Managing payables is time consum- earn significant new revenue streams.
ing, and paper checks are messy and fraught with fraud
and inefficiencies. CoreChain Pay, he said, offers a single, To date, CoreChain noted, it has processed over $1 billion
simple automated payments solution that uses your exist- through its CoreChain Pay platform, helping partners
ing accounting system to pay your vendors digitally and mitigate risk of fraud and improve efficiencies. Going for-
earn an incentive at the same time—transitioning the ac- ward, the company plans to continue providing a tamper-
counts payable team from a cost center to a profit center. proof record for every buyer-supplier transaction, and an
Additionally, CoreChain Pay is designed to help acceler- immutable source of truth for transactions with perfect
ate payments for invoices up to 120 days in advance to visibility to both parties.

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