Canadian payment platform nanopay has introduced a new solution to facilitate secure processing of B2B payments between bank accounts.
The new platform will enable users to link their current accounting system to make a payment request and receive payment with ISO 20022 metadata for straight-through processing.
Users of the B2B platform will also gain full visibility of the forex costs when making invoice payments in a currency that is not local.
Currently operating in private beta, the new platform is scheduled to be launched to the public in February 2018 to support cross-border payments between the US and Canada. Plans are on to roll out the service in India and China in the second quarter of next year.
The platform will be launched as a web-based application and an API, facilitating its integration with third-party applications.
nanopay founder and CEO Laurence Cooke said: “Business relationships are founded on trust and the nanopay platform eliminates payment risk as an impediment to working together. With UPS-like tracking you always know the status of your payment request.”