CPX Powers the Future of B2B Payments, Delivering Buyer and Supplier Value
ALPHARETTA, Ga.–(BUSINESS WIRE)–Dec. 1, 2021–
Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company helping customers collect, store, and send money, has been named as a Top 10 Accounts Payable Solution Provider.
CFO Tech Outlook recognizes Priority for maximizing virtual B2B payment adoption by combining the simple and elegant Commercial Payments Xchange (CPX) technology interface with best-in-class supplier enablement expertise. Priority has one of the most extensive supplier networks to identify those already accepting card, as well as skilled payments specialists who maximize supplier adoption of electronic forms of payment.
“Priority powers the future of B2B payments with unmatched payments technology and the largest, most experienced supplier enablement team in the industry,” said Stephen Tackett, Executive Vice President and Head of the commercial payments division of Priority Technology Holdings. “As we pave the path to virtual payments, we deliver a smoother ride and greater value for buyers and suppliers.”
CPX is engineered to help buyers and suppliers find the intersection of value. The platform eliminates inefficient manual processes and optimizes revenue share from virtual card for buyers, while accelerating payments and managing transaction costs for suppliers.
CPX outperforms other solutions on all five key criteria that tech-savvy CFOs require from a payments automation platform
- Ease of Use: A single payment instruction file pays every supplier and returns robust reconciliation reports
- Platform Agnostic: Independent, not owned by a bank or third-party processor
- Full Integration: Works with all accounting software and eliminates disparate processes
- Speed-to-Spend: Minutes to onboard buyers with minimal internal IT resources
- Supplier Acceptance: Maximizing supplier acceptance is Priority’s core competency
Priority CPX represents the next-generation digital Accounts Payable (AP) automation solution for businesses and organizations of all sizes and types, as well as financial institutions and fintechs. In addition to CPX technology and supplier enablement, Priority’s commercial payment solutions and services include ACH services, commercial acquiring, managed services and credit card services.
About CFO Tech Outlook
Following a peer-to-peer learning approach, CFO Tech Outlook highlights the latest trends and technologies to assist CFOs in driving corporate performance with real-time access to organizational and market data, better assess and manage risk with increased visibility through a single, integrated view into their organization and grow their business with greater agility and efficiency. The articles portrayed in the magazine are contributing toward transforming a CFO’s industry outlook by featuring solutions and services of firms that are unique and enhance traditional financial systems.
About Priority Technology Holdings, Inc.
Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value, payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.
Source: Priority Technology Holdings, Inc.