Digital business payments firm Bill.com has selected Comdata virtual credit cards in order to digitise its business-to-business (B2B) payments.
A survey by AFP revealed that paper checks are used to make more than half of corporate B2B payments. Virtual credit cards payments are believed to be more efficient, while reducing costs and manual labour.
Bill.com portfolio includes cloud-based Payment Management Platform designed to automate, optimise and control the payments process. The company offers digital payment solutions to a variety of clients, including banks and accounting firms.
The latest collaboration will expand Bill.com’s existing payables options range with a virtual credit card backed by Comdata.
Bill.com founder and CEO René Lacerte said: “As businesses and their suppliers continue to embrace digital business payments, virtual credit cards offer another option for removing paper from the supplier back-office.
“We’re excited to have Comdata’s expertise and capabilities in automating more and more of our customers’ supplier payments.”
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Comdata group president of corporate payments division Kurt Adams said: “Comdata and Bill.com couldn’t be more aligned in terms of our broader mission – to make business payments simple and straightforward, so businesses can focus on their core operations.
“We are thrilled to join with Bill.com in helping more companies’ B2B payments function capture the paperless, automated standards of the 21st century through our world-class virtual credit card programme.”