To automate B2B payments, TD engineers a network effect
One of the many factors holding back corporate payments is the requirement to negotiate payment terms with disparate suppliers, a process that does not match easily with a scalable automated gateway. But it gets much easier if those suppliers have a common vendor relationship of their own. By using a network of vendors with existing payment and financial terms, TD Bank hopes to expedite the paper processing for supply chain transactions and treasury management. TD on Tuesday announced a collaboration with Bottomline Technologies to offer Paymode-X with Visa Payables.
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