Bank partnerships

Invapay offers banks the chance to unlock new markets and grow transaction volumes by offering their clients an innovative solution to a persistent problem.

The challenge
Purchasing cards have delivered important cost and efficiency benefits for many corporate clients. However, they haven’t engaged as many smaller-volume suppliers as their users might have hoped. Most corporate clients still have to deal with a ‘long tail’ of low-volume, occasional or one-time-only suppliers who don’t accept card payment.

The aggregated costs of dealing with these suppliers, who can easily number in the thousands, can be significant. Rekeying paper invoices, setting up new suppliers, resolving queries and despatching payment all take valuable time and resources.

Why don’t suppliers take cards? Understandably, they’re deterred by setup costs, ongoing fees and the inconvenience of changing their systems – all for the sake of customers who buy from them rarely or just once. Although they’d like to help their customers, the costs and benefits simply don’t stack up from their point of view.  

As a result, most banks have struggled to enable the market represented by low-volume, occasional or one-time-only suppliers. And this largely untapped sector is significant: the average ticket value of a one-time-only vendor transaction is over five times that of a typical purchasing card transaction.

The opportunity
Invapay is an online money transfer system that automates the payment process. In many ways, Invapay is similar to PayPal, but tailored for the business-to-business arena.

Invapay offers corporates the chance to reduce paperwork in their accounts-payable processes and save money. Their suppliers, meanwhile, can become credit-card enabled without any upfront cost or extra hassle. (You can read more about the benefits to each user group in the corporate and vendor sections.)

At Invapay, we actively seek dialogue and partnership with banks aimed at realising the market potential of the Invapay solution. By proposing the solution to their clients in partnership with Invapay, banks can grow transaction volumes while offering their customers a win-win proposition. 

Key benefits

• Grow transaction volumes through your payment network
• Deliver dramatic efficiency gains for your corporate clients and build their loyalty
• Open up a previously inaccessible market sector: occasional and one-time-only vendors
• Work alongside our corporate management team to introduce the Invapay concept to your clients

Take the next step
To discuss how Invapay can benefit your corporate clients and open up new opportunities, call Invapay now on +44 (0)207 868 1667 or email us at enquiries@invapay.com.