Deluxe and Echo Health have joined up to offer digital payment solutions to businesses that use paper.
The two payment processors joined together to create DPX Payments on May 2, with the intention of bringing “advanced payables offerings to the large and underserved middle market.”
The companies said in a news release that DPX is aimed at businesses that send payments to vendors and suppliers on paper. It was published at a time when it appears that the U.S. is gradually moving toward electronic invoicing.
According to Deluxe’s head of payments, Michael Reed, “DPX Payments is the next step in the omnichannel payment strategy of Deluxe, offering an even broader range of digital payment solutions to the middle market.”
Regardless of desired payment form, “DPX Payments reduces the burden on AP [accounts payable] teams to worry about whether their payee can accept their preferred payment method.”
Since the launch of their Medical Payment Exchange in 2019, which handles more than $20 billion in payments annually, Echo and Deluxe have collaborated.
The new firm “expands the partnership to offer these advanced payment capabilities to all businesses, with support for multiple payment types, including ACH, virtual card, paper check, push to the debit card, and e-check, among others,” according to a press statement.
