Today In Payments: Billtrust Plans To Go Public Through SPAC; Paya Makes Public Debut On Nasdaq

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In today’s top news, Billtrust and South Mountain Merger Corporation have entered into a “definitive business combination agreement,” while Paya became the latest FinTech to join the ranks of publicly traded companies. Plus, i2C has become part of Visa’s FinTech Fast Track program.

Billtrust to Go Public via SPAC at $1.3B Valuation

Billtrust, the B2B order-to-cash solutions provider, and special purpose acquisition company (SPAC) South Mountain Merger Corporation said they have entered into a “definitive business combination agreement.” The combined company will continue as a publicly listed group.

Paya Debuts on Nasdaq, Shares Close up 10 Pct

Paya became the newest FinTech to join the ranks of publicly traded firms, as it made its market debut on Monday (Oct. 19). The rollout comes after a vote by investors of a SPAC, FinTech Acquisition Corp. III, to approve a business combination with Paya and modify its name to Paya Holdings.

i2c Joins Visa’s FinTech Fast Track Program

i2c has joined with Visa’s FinTech Fast Track Program in the United States, Canada and the CEMEA region as a new enablement partner, allowing for quicker connections with the payment giant’s many programs.

Mastercard’s Priceless Planet Coalition Adds Members to Fight Climate Change

Mastercard has announced the growth of the Priceless Planet Coalition to continue fighting climate change with many new contributors. The group was started in January 2020, aiming to restore trees via a mix of efforts from companies, individuals, cities and financial institutions.

Apple Pay at Six: How Consumers Are Using It at the Physical Point of Sale

The rollout of the Apple Pay digital wallet has long been viewed as Apple’s attempt at replacing consumers’ utilization of plastic cards for purchases in physical stores as their main payment method. Oct. 20 also happens to be Apple Pay’s six-year anniversary. PYMNTS explores where Apple Pay stands today.

To Modernize B2B Payments, Break Down the Silos Between AP and AR 

Accounts payable (AP) and accounts receivable (AR) need to work better in the effort to modernize B2B payments. One aim is to integrate payments, simplifying discrete functions of paying suppliers and getting payments from buyers. It’s also pivotal to go about breaking down silos within firms, where AR and AP once functioned as distinct departments sans clear lines of communication.

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