Boost Payment Solutions, a global firm specializing in optimizing virtual card usage and acceptance, announced a partnership with FIS, a provider of global financial technology solutions.
The collab will bring Boost’s straight-through processing (STP) technology Boost Intercept “into FIS’s Automated Finance suite— transforming accounts receivable (AR) and accounts payable (AP) automation for enterprise customers.”
Boost Intercept streamlines virtual card acceptance by “removing the costly, manual workflows typically tied to email-based processing.”
Through its connectivity with FIS’s Automated Finance solution, new and existing GETPAID and BillerIQ customers can “access the benefits of Boost Intercept—giving AR teams a way to accept virtual cards” while gaining:
- Lowest-cost acceptance (Level 3 and Large-Ticket interchange)
- Enhanced remittance reporting
- Reduced fraud risk with the safest payment option available
- Streamlined reconciliation
The partnership also strengthens FIS’s accounts payables offering “by leveraging Boost’s supplier enablement services, supplier network, and STP acquiring technology.”
FIS customers can expand their virtual card programs “at no cost while offering their suppliers a secure, automated virtual card acceptance experience through Boost Intercept, deepening buyer-supplier relationships and maximizing program value.”
Dean M. Leavitt, Founder and CEO of Boost Payment Solutions:
“With digitization becoming more of a priority for the Office of the CFO, finance leaders are looking to modernize every aspect of the receivables process. By integrating Boost Intercept into the FIS ecosystem, suppliers now have access to a … solution for commercial card acceptance”
Since 2009, Boost claims that it has been reinventing how card payments are initiated, “accepted and processed for companies worldwide.”
This partnership marks a milestone for Boost and FIS in the business-to-business space by “offering organizations a solution to streamline virtual card processing and unlock new levels of financial optimization.”
Chrissy Wagner, SVP of GTM, FIS Automated Finance:
“Virtual card adoption continues to rise as payables departments realize the working capital benefits and reduced fraud risk typically associated with check payments. However, it’s no secret that virtual card acceptance introduces complexity for receivables departments. FIS is positioned to solve this dynamic for the office of the CFO.”
This partnership between two global B2B payment firms sets the stage for deeper alignment and joint initiatives.
By uniting FIS’s automation capabilities with Boost’s straight-through processing (STP) technology, the collab “drives greater efficiency, enhanced cash flow, and a seamless payment experience for buyers and suppliers.”