Oro Adds Integrated Payment Solution to B2B eCommerce Platform

Oro has launched a payment platform that is integrated with the company’s B2B eCommerce platform, OroCommerce, and purpose-built for the manufacturers and distributors who use it.

With the addition of OroPay, the platform now includes invoicing, payments, enterprise resource planning (ERP) connectivity and commerce, the company said in a Thursday (July 10) press release.

Bringing these capabilities together in one seamless ecosystem eliminates the need for separate tools, extra steps and manual work, and helps businesses scale faster, reduce overhead and simplify cash flow management, according to the release.

The solution can manage the complexities of B2B commerce, such as partial payments, credit memos, multi-brand operations and post-merger-and-acquisition consolidation, per the release.

For buyers, the addition of OroPay provides a self-service way to pay using a credit card, ACH or other digital methods and gain real-time visibility throughout the transaction, the release said.

OroPay is now included by default with OroCommerce deployments, allowing users to activate it or opt out, per the release.

“OroPay represents the next evolution in how B2B payments should work: streamlined, secure and part of your digital commerce platform from day one,” Oro CEO Yoav Kutner said in the release. “We built OroPay to help our customers move faster, reconcile easier and deliver a better experience to their buyers.”

The PYMNTS Intelligence and WEX collaboration “Virtual Mobility: How Mobile Virtual Cards Elevate B2B Payments” found that a digital transformation is reshaping the landscape of B2B payments.

Businesses are moving away from legacy payment systems, such as paper checks, and adopting solutions like virtual cards and mobile wallets, according to the report. As they do so, they find that the new solutions enhance security, automate reconciliation and safeguard financial data.

In an earlier update to its OroCommerce B2B eCommerce platform, Oro said in April that it added an AI SmartOrder tool that reads orders placed via PDFs, emails or faxes and turns them into structured orders; an AI SmartAgent virtual assistant that helps buyers check product availability and pricing and submit orders; and a Conversations in-portal messaging system that connects buyers and sales or support teams and keeps these exchanges tied to the relevant transaction.

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