The payment processors Heartland Payment Systems in Princeton, N.J., and VersaPay in Toronto have partnered to sell a cloud-based accounts receivable product.
The venture combines Heartland's Portico Gateway product and VersaPay's ARC product. Financial terms of the companies' agreement were not disclosed.
The joint effort is designed to help merchants automate manual billing systems, improve cash flows, condense days outstanding, lower cost and improve the overall experience for the bill payment recipient, Joe Wysocki, senior director of e-commerce for Heartland, said in an Aug. 13 news release.
Heartland's Portico Gateway is designed to let merchants process credit, debit and prepaid card transactions manually, or by attaching a PIN pad.
VersaPay's ARC lets businesses connect to enterprise resource planning systems, publish invoices in a secure portal and conduct other functions.