HighRadius has launched a B2B payments platform designed to improve payment processes across more than 100 payment methods globally.
The platform is designed to meet the demand for cost-effective B2B payment solutions and for easier ways for customers to make payments, the company said in a Friday (April 12) press release.
“Payments are a critical part of a customer’s digital experience, and 70% of organizations are not satisfied with the customer experience they offer,” Sayid Shabeer, chief product officer at HighRadius, said in the release.
One of the products included in the new B2B payments platform is Payment Gateway, which supports more than 150 currencies from eCommerce, order management and other digital commerce channels, according to the release.
The platform also includes Surcharge Management, a module that enables companies to validate the applicability of surcharges and pass on interchange fees to their buyers. This module aligns with the regulations of different regions and card brands, the release said.
An Interchange Fee Optimizer is also included in the platform. When accepting payments made via credit card, this module automatically populates any missing data, adheres to pre-configured rules and ensures the attainment of the lowest possible interchange fees, per the release.
“Our goal is to reduce credit card processing costs through PCI-compliant payment solutions across all digital channels,” Shabeer said in the release. “The Interchange Fee Optimizer will ensure customers offer this at the lowest possible cost.”
The new B2B payments platform joins HighRadius’ growing range of cloud-based autonomous software for the office of the chief financial officer, according to the release.
The company’s solutions for order-into-cash, treasury and record-to-report processes are used by more than 800 customers, the release said.
This product launch comes on the heels of some other additions the company has made.
In March, HighRadius launched a generative artificial intelligence-powered solution designed to automate the payer-supplier payment process. The Accounts Payable Automation tool automates invoice processing and supplier communications.
In February, the company expanded its capabilities and added more than 100 customers globally by acquiring Cforia Software, a supplier of billing and collections automation software.
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