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Unimarket Enhances Spend Management Platform with AP Payments as a Service

Introduction of 'Unimarket Payments' Provides US Customers with Secure, Low-Cost Solution to Outsource AP Payment Operations

Annapolis, MD, April 29, 2024 -- Unimarket, a global provider of spend management and source-to-pay solutions, today announced the US market expansion of 'Unimarket Payments,' a fully managed accounts payable (AP) payments service that optimizes, monetizes, and secures the entire payment lifecycle.

Unimarket Payments’ is an AP Payments as a Service solution, combining service and technology to enable AP teams to effortlessly leverage modern, safe, and secure, revenue-generating electronic payments. With ‘Unimarket Payments,’ Unimarket customers realize a streamlined AP payment experience, delivering greater ROI by eliminating fraud-prone paper checks and manual processes and lowering payment costs. This fully integrated, streamlined AP payment experience covers various payment types and channels, including ACH, wire, virtual card, and paper checks. ‘Unimarket Payments’ is now available to Unimarket customers with national or regional offices in the United States.

"The benefits of AP Payments as a Service translate into greater efficiency and revenue opportunities for our US customers, leading to significant financial gains," said Phillip Kenney, CEO of Unimarket. Eliminating the time-consuming, antiquated practice of issuing paper checks is essential to our customers' successful transition to digital payments and, for many colleges and universities, enables them to achieve their sustainability initiatives." 

‘Unimarket Payments’ is powered by Finexio, the leading embedded payments infrastructure and service provider for the world's most prominent AP and Procurement platforms, enabling seamless and secure B2B transactions between buyers and suppliers.

"We are thrilled to join forces with Unimarket to revolutionize their accounts payable processes," said Ernest Rolfson, Founder and CEO of Finexio. "Our strong partnership with ‘Unimarket Payments’ helps Unimarket customers experience significant improvements in efficiency, cost savings, and fraud prevention related to their AP payments."

Concerning the payment lifecycle, ‘Unimarket Payment's’ integrated AP payment solution offers Unimarket's US customers high-touch supplier enablement, fraud, and risk detection, payment-specific strategic account relationship management, payment operations, and settlement support, and payments and banking data security capabilities.

To learn more about how ‘Unimarket Payments’ can optimize your organization's invoice processing, visit Unimarket.com.

About Finexio

Finexio is the leading AP Payments-as-a-Service company focused on embedding end-to-end business-to-business payment capabilities within Procurement, AP Software Platforms and Financial Institutions. This embedded payments-as-a-service solution represents a powerful disruption to traditional, disjointed manual-based AP processes. Finexio's modern, efficient service model, robust API, SSO capabilities, and differentiated service capabilities translate to valuable recurring revenue streams and a strong competitive position for our customers and partners. For more information, visit Finexio.com.

About Unimarket

Unimarket is a global provider of spend management and e-procurement software solutions. Turning chaos into clarity, Unimarket's comprehensive spend management suite significantly improves visibility, enables compliance, and eliminates maverick spending, transforming the source-to-pay processes of global organizations.

Recognized for its industry-leading customer support, Unimarket's easy-to-use cloud-based solution connects an extensive catalog-driven supplier marketplace with sourcing, purchasing, contracts, invoice management and payments — all in one integrated spend management platform.

Founded in 2005, Unimarket is trusted by organizations from a diverse range of industries, including higher education, healthcare, government, research, and financial services. For more information, visit Unimarket.com or follow us on LinkedInFacebook and X (formerly Twitter).