- HighRadius is launching a B2B payments platform.
- The new platform will have three main components to help businesses lower costs: Payment Gateway, Surcharge Management, and Interchange Fee Optimizer.
- HighRadius has more than 800 clients, including 3M, Unilever, Anheuser-Busch InBev, and others.
Treasury Management software company HighRadius announced plans late last week to launch a B2B payments platform. The new tool will help HighRadius clients facilitate global payments for their end users.
HighRadius’ B2B payments platform, which aims to improve payment processes across 100+ global payment methods, is comprised of three main products. Each product is available in HighRadius’ single, standalone platform that will help companies make it easier for their customers to disburse payments globally.
The first product, Payment Gateway, supports more than 150 currencies from eCommerce, order management, and other digital commerce channels, creating a more cost-effective B2B payment solution. Surcharge Management helps companies validate surcharge applicability and pass on interchange fees to their buyers. The solution simplifies things for clients by automatically abiding by regional regulations, which vary by state and card brand. Finally, Interchange Fee Optimizer will automatically populate any missing data and will ensure the payment adheres to pre-configured rules in order to verify that the customer receives the lowest possible interchange fees.
“Payments are a critical part of a customer’s digital experience, and 70% of organizations are not satisfied with the customer experience they offer,” said HighRadius Chief Product Officer Sayid Shabeer. “Our goal is to reduce credit card processing costs through PCI-compliant payment solutions across all digital channels. The Interchange Fee Optimizer will ensure customers offer this at the lowest possible cost.”
Texas-based HighRadius was founded in 2006 and counts 800+ clients, including 3M, Unilever, Anheuser-Busch InBev, Sanofi, Engie GBS Solutions, Kellogg Company, Danone, and Hershey’s. The company earned unicorn status in 2020 when it raised $125 million in Series B funding. Sashi Narahari is CEO.