ORLANDO, Fla. - December 4, 2019 - (Newswire.com) - 2019 was another breakout year for Finexio, an Accounts Payable Payments “FinTech” company, a leader in the business-to-business payments area, the largest remaining paper-based payment segment with $12 trillion spent on paper checks in the U.S. alone. Finexio provides the most comprehensive, the most effective AP payment solution in the U.S. market. Due to the ease of its implementation, corporate customers routinely select the solutions over similar offerings. Differentiators include intelligent supplier enablement, white-glove customer support, and integrated payables to cover the entirety of corporate AP disbursement needs while maximizing paper to electronic payment conversion within accounts payable.
2019 gross dollar volume (GDV) increase is nearly 300% over the prior year. This follows a 375% increase in the year before. Transaction volume in 2019 has increased on average 24% month over month due to customer wins, new payment products, and Finexio’s superior supplier enablement capabilities. Further, in 2019 the total dollars in Finexio’s proprietary b2b payment network have grown on average 31% month over month, as an increased number of suppliers and spend elect to be paid by Finexio via virtual card or ACH instead of paper checks. Follow this story to get email or text alerts from KTVN when there is a future article following this storyline. Follow this story
Finexio’s customers pay upwards of $2.5 billion to over 35,000 suppliers every year. Moreover, Finexio is embedded with channel partners whose customers spend north of $15 billion annually, predominantly on paper, providing a large base of customers and spend for Finexio’s AP payment solution to address in the coming years.