Finexio and PairSoft partner to announce B2B Digital Payments Solution

By Edlyn Cardoza

PairSoft, a provider of procure-to-pay solutions, announced its payment processing partnership with FinTech giant Finexio.

PairSoft Pay and Finexio will further solidify the high performance of AP and procurement teams using PairSoft’s comprehensive solutions. The new payment offering is a crucial element of PairSoft’s vision for a harmonised, non-siloed spend management cycle that will save customers time and money through seamless automation and the elimination of fraud-prone paper checks. Additionally, the PairSoft customer experience will be amplified by one-click payments, increased security and control, high-touch supplier enablement, and multiple payment options for vendors.

Ernest Rolfson, CEO and Founder of Finexio, said, “We are thrilled to begin this partnership with a future-forward organisation like PairSoft, and we’re ready to elevate their user experience through a seamless payments-as-a-service solution. Finexio exists to embed integrated payments into leading AP and Procurement software platforms serving mid-market needs, and PairSoft is a leading example of a platform driving exemplary results in digital business transformation for end users. Putting the ‘Pay’ into ‘Procure to Pay’ is a natural evolution of the service offering.”

This entry into the payments space rounds out PairSoft’s robust automation solutions, into which the Finexio-powered payment platform will be embedded. PairSoft Pay covers various payment types and channels, including payment methods like virtual cards, ACH, wire transfers, and paper checks, as per user needs. Delivering faster electronic payments will boost the cash flows and streamline the workflows of large and small businesses. At the same time, the reduction of manual errors and PairSoft’s end-to-end encryption will bolster fraud protection.

“We are excited and ready to jump into payments. This is the next great step in our mission to lead the procure-to-pay market, and we couldn’t have chosen a better teammate than Finexio,” added Matt Cotter, PairSoft’s CEO. “Innovation and strategy are at the heart of everything we do, and this product is the latest proof point.”

As PairSoft begins rolling out its Finexio-powered payment system, it’s recommended that existing customers interested in this upgraded functionality continue communicating with their account managers.

Recently, IBS Intelligence reported that Finexio had announced the first close of its $30 million funding round at a $100 million pre-money valuation co-led by Mendon Venture Partners and National Bank Holdings Corporation.