Nexus Teams Up With WePay to Create New Payments Solution That Allows Small Businesses to Accept Payments Through a Virtual Card

Nexus, a U.S.-based AP automation and payments for the real estate industry provider, announced earlier this week it has teamed up with JPMorgan Chase & Co’s integrated payments business WePay to create a new payments solution that will allow small businesses to accept payment through a virtual card. Nexus reported that the payments solution, called NexusDirect powered by Chase, allows sole proprietors and small business suppliers to get payments directly into their bank accounts using a single-use virtual card.

“With the NexusDirect solution, the supplier receives a highly secure virtual card, which is sent digitally to fund a single transaction. All the manual work to process the card is done by Nexus and WePay for the supplier. Once the buyer pays for the purchase and authorizes the card, the supplier sees the money in their bank account, minus the predictable card transaction fees.”

While sharing more details about the solution, Jennifer Coolidge, President of Nexus, stated:

“NexusDirect is a quick and secure way for small suppliers to receive all the benefits of electronic payments that have been so critical during the COVID-19 pandemic – security, visibility, easy reconciliation, and fast payments – without any hassle or equipment to rent. They can even get paid as soon as the same day, for no additional cost, if they have a Chase account.”

Angela Martin, Head of U.S. Strategic Partnerships Group, at WePay, added:

“Together, we’re bringing the benefits of virtual cards to drive efficiencies, while delivering security and control, to help suppliers meet their businesses’ bottom line. With NexusDirect, suppliers that choose a virtual card can begin accepting card payments quickly. This leads to faster and easier access to cash flow.”

Nexus provides the fastest way for real estate companies to ditch paper checks and send secure payments to their suppliers. With its roots in AP automation, the company has built the largest, validated community of suppliers serving multifamily, CRE, and other real estate segments.

 

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