News

Optal Transforms Supplier Payments for Lloyds Bank Commercial Banking via Invapay

London, Tuesday, 16th July 2019

Optal, a global leader in optimising B2B transactions, has signed a new deal with Lloyds Bank which will enable one of the UK’s largest banks to offer innovative services to its Commercial Banking clients. The service will strip away the traditional barriers associated with suppliers having to accept card payments.

Optal’s innovative Invapay solution will allow Lloyds Bank Commercial Banking clients and their suppliers to benefit from transparent and streamlined payments.

Invapay allows corporate buyers to use commercial cards to pay suppliers. It does this by converting commercial card transactions into cash to pay non-card accepting suppliers by Electronic Funds Transfer (EFT). This means suppliers don’t have to go through the time and expense of onboarding processes to receive card payments.

Lloyds Bank Commercial Banking clients will be able to use the highly secure payments system to improve supplier relations through the option to offer earlier payment.

The partnership will help Lloyds Bank offer an innovative market leading B2B payment solution to its clients, designed to simplify paying their suppliers, using its commercial cards.

“We’re delighted to be teaming up with Lloyds Bank to optimise B2B payments for even more businesses around the world,” says Andrew Watson, Global Head of Working Capital Solutions. “Our Invapay platform really does offer a win-win for all concerned: fast, friction-free payments to facilitate seamless, transparent business processes.”

 “We are excited by the new capabilities we are now able to offer to our Commercial Banking customers. This offers them a great opportunity to simplify their payment landscape, whilst optimising the working capital benefits of their card facility, and expanding the range of suppliers they can pay with cards” says James Sykes, Head of Commercial Cards at Lloyds Bank. “I am pleased that we will be working with Optal and will be able to leverage their expertise in this expanding area of payments.”

Contact details:

Bradley Eccleshare
Optal Director of Marketing

M +44 0 7525 929198
T +44 0 20 3892 4928
bradley.eccleshare@optal.com

About Optal Ltd

Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, Optal helps companies boost profitability across a growing number of sectors around the world.

Optal issues Mastercard branded payment products, driving its focus on developing and bringing to market, game-changing payment solutions. Optal’s working capital solution, Invapay, turns underutilised credit lines into a dynamic resource to manage cashflow.

“Invapay” and “Invapay solution” means Invapay Payment Solutions Limited, a private limited company in England and Wales, authorised and regulated as an Authorised Payment Institution by the Financial Conduct Authority under the Payment Services Regulations 2017 which is a wholly-owned subsidiary of Optal Limited.

Talk to us to discover how Optal can add value to your organisation.

General enquiries: +44 (0)333 230 1316
Business Development: +44 (0)333 230 1842
Invapay Technical Support: +44 (0)3308 387 490
Press & Media: +44 (0)203 772 8842

info@optal.com


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