FLEETCOR Technologies, a global provider of commercial payment solutions, announced Tuesday (March 5) it signed a definitive agreement to acquire Nvoicepay, a player in full AP automation for businesses. Terms of the deal were not disclosed.
In a press release, FLEETCOR said Nvoicepay’s capabilities coupled with FLEETCOR’s existing card processing services will enable businesses to pay their entire accounts payable expenses including domestic and international payables. Nvoicepay provides automated accounts payable solutions to more than 400 business clients, giving them a user interface that lets them electronically pay off suppliers.
“The addition of Nvoicepay to the FLEETCOR Corporate Payments portfolio enables us to manage full disbursement of accounts payables for businesses,” Kurt Adams, group president, corporate payments, FLEETCOR said in the press release. “Combined with our industry-leading virtual card and corporate card solutions, we believe FLEETCOR Corporate Payments is now the best choice for businesses looking to modernize their AP processes.”