CPX Powers Next Generation B2B Payments Integration for QSRs
ALPHARETTA, Ga., Nov. 8, 2021 /PRNewswire/ — Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company helping customers collect, store, and send money, has announced a strategic partnership with OneDataSource, which specializes in business process automation solutions that support the world’s best quick-service restaurant (QSR) brands.
Under the partnership, the integration of Priority Commercial Payments Xchange (CPX) into OneDataSource’s onePAY, will deliver the next-level solution to fully automate, integrate and monetize accounts payable (AP) for multi-unit QSRs. “At their core, our solutions deliver significant operational efficiencies and cost savings,’ said OneDataSource Founder and President Bruce Belvin. “With CPX’s technology, we’re doubling down in both of those areas. Our customers can further modernize their back-office processes while actually having money put back in their pockets.”
“CPX exceeds OneDataSource’s exacting standards for visibility, control, simplicity and supplier adoption far beyond other AP automation solutions, which typically operate disparate payment and reconciliation processes,” said Stephen Tackett, Executive Vice President and head of the commercial payments division of Priority Technology Holdings. “The onePAY solution powered by CPX will seamlessly optimize seven payment types, five of which generate revenue share.”
North America is expected to contribute 43% of the QSR industry’s projected $119.20 billion sales growth between 2021 and 2025, according to Technavio. The integration will accelerate scalable growth and improve profitability for QSR operators by streamlining their AP process and monetizing their supplier spend.
Priority engineered CPX 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.
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.
Founded by former restaurant executive and franchise operator Bruce Belvin in 2002, OneDataSource specializes in business intelligence and process automation solutions to support the world’s best quick-service restaurant (QSR) brands. For more information, visit www.onedatasource.com.
SOURCE Priority Technology Holdings, Inc.
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