CoreChain Technologies, a blockchain-powered digital B2B payments system, and BillGO, a bill payment solution, have collaborated to improve the processing of payments and the administration of vendor onboarding. BillGO will incorporate CoreChain’s virtual card payments service, enabling any firm to provide an encrypted, safe payments platform to corporate customers, according to a news statement issued by the firms on Monday, October 24.
CoreChain Technologies Co-founder and CEO Chris Aguas stated “A digital card platform powered by distributed ledger technology and the protection of blockchain, such as CoreChain, provides futuristic transparency and forgery prevention for the virtual card systems that BillGO is integrating. CoreChain is the most demanded value-add in the digital card industry.”
As per the media release, CoreChain enables any enterprise resource planning (ERP) or business process automation solution provider, bank, or any other payment networks to provide their corporate customers an integrated B2B payments platform. Its distributed ledger technology offers a tamper-proof and transparent history of buyer-supplier interactions, as well as options to fund accounts receivable (AR) stored in unpaid bills, according to a press statement.
Cindy O’Neill, president and general manager of BillGO’s Biller Solutions, said “Along with CoreChain, we can assist and allow suppliers to mechanize their conventional payment procedures, therefore liberating precious time, working capital, and options. It is a solution that will facilitate the adoption of digital card transactions in sectors that may have rejected these kinds of applications in the past.”
Aguas said PYMNTS in an October 2021 discussion that businesses are adopting blockchain in order to accomplish things in a unique and different manner than using conventional technology and paper-based methods.
“Improving the industry’s understanding of which facets of cryptocurrency are important to them and how they may participate is essential to fostering greater usage over time,” Aguas added.
