Flywire has partnered with Billtrust, which specializes in B2B payments, to improve processing of cross-border payments.
The integration will enable Flywire and Billtrust to share account and invoice information, automatically matching payments reconciliation details, and eliminating the need for manual processes, the companies said in a Thursday press release.
For Billtrust’s customers that already receive international wire transfers, Flywire’s technology will provide advance knowledge of transaction fees and foreign exchange fees, according to the release. The two companies will also work together to develop research and improve their marketing and sales for B2B customers with global receivables, the release said.
“Working together, Flywire and Billtrust can streamline the international receivables process and make it easier for Billtrust’s customers to lower their administrative costs while expanding globally,” said Mike Massaro, Flywire’s CEO, in the release.