MineralTree Works with Western Union to Add Cross-Border Payments to its Award-Winning AP Automation Solution
MineralTree Invoice-to-Pay Drives Simplicity and Efficiency for Payments to International Vendors
Cambridge, MA, October 31, 2017 – MineralTree, a leading provider of accounts payable (AP) and payment automation solutions for middle market companies, announced today that it has grown its relationship with Western Union to offer integrated support for cross-border vendor payments.
“Businesses today have a globalized supply-chain, and they face the need to streamline relationships with international suppliers. However, most businesses still follow ad hoc, risky, expensive processes to process and pay invoices from their international vendors, “ said BC Krishna, Founder and CEO of MineralTree. “We are extremely pleased to work with Western Union’s business function to bring the power of their global payments network to US middle market companies. “
MineralTree’s Invoice-to-Pay solution offers an integrated service with Western Union to ensure an efficient process for cross-border vendor payments. In addition, the Invoice-to-Pay solution also offers a number of other key features that will streamline the AP process for middle market companies. Over 1,200 business entities using the platform benefit from a solution that offers:
- Out-of-the-box two-way synchronization with common Accounting/ERP applications
- Automated invoice data capture and online approval workflow
- Purchase Order matching
- Direct integration with bank and credit card accounts for payment disbursement, account balances and transaction reporting
- Payment authorization security and control: segregation of duties, dual approval, two-factor payment verification, authorization limits, and Positive Pay support
- Multiple payment methods: check, ACH, virtual credit card, and wire
- Guaranteed protection against online fraud
Jean-Claude Farah, Western Union’s President, Global Payments said: “We’re delighted to announce this alliance with MineralTree which will enable their customers to disburse international business payments to suppliers in over 200 countries and territories. The customer is at the heart of everything we do at Western Union and our goal is to serve them in the best way possible.”
MineralTree’s bi-directional integration with common accounting ERPs and embedded payment options, now including cross-border payment functionality, makes it simple for companies to quickly go live and automate their AP process.
MineralTree provides the easiest to use Accounts Payable (AP) and Payment Automation solutions for finance professionals at middle market enterprises. MineralTree streamlines AP, giving customers’ unparalleled visibility and significant cost savings in an affordable, integrated platform that is guaranteed secure. For more information visit www.mineraltree.com.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2017, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 550,000 agent locations in 200 countries and territories and over 150,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2016, The Western Union Company completed 268 million consumer-to-consumer transactions worldwide, moving $80 billion of principal between consumers, and 523 million business payments. For more information, visit www.westernunion.com.
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