Partner Hub, an online invoicing service, and Answer Pay, a platform for payments-as-a-service, have teamed together to make it simpler for banks to deliver request-to-pay and eInvoicing services to their customers.
According to a blog post by Answer Pay, the collaboration combines Partner Hub’s capacity to reformat invoice data from enterprise resource planning (ERP) systems for invoice presentation and automatically generate payment requests over Answer Pay’s request-to-pay networks with Answer Pay’s request-to-pay service, which is available in the UK and the Single European Payments Area (SEPA).
The two groups collaborate, according to the report, to make it simpler for banks to include these services in their portfolios.
Partner Hub co-founder Katalin Kauzli said in the statement that “the two largest banks in Hungary were able to quickly and safely get up and running with our [eInvoice] solution.” We’re eager to work with Answer Pay to help banks in the rest of Europe utilize these two powerful technologies to their full potential.
The usage of request-to-pay is expanding, the article claims, since it enables companies to obtain recurring payments from clients, which is crucial given the present cost of living problem in Europe, and eInvoicing is growing because many European states want to make it mandatory.
Ralf Ohlhausen, the executive adviser at Answer Pay, said: “The cost of living issue will affect how we handle our bill payments.” You can see why we’re so happy to work with Partner Hub to bring this new innovation to market when you consider the need for [eInvoicing] throughout Europe.