Accounting technology group Sage has partnered with payments fintech Modulr to help clients improve their management of accounting and payroll payments.
The deal means businesses will be able to process salary and supplier payments within Sage accounting and payroll products Sage’s.
Seamus Smith, executive vice president of global payments and banking at Sage, said improving the automated payment options will save Sage users time and improve their corporate administration.
“Enabling our SME customers and accountant partners to automate vital financial processes directly from our products… will help them to save time on administrative processes, take control of the flow of money through the software, improve data security and reduce costs.”
Smith said that Modular was recognised for its “significant industry expertise,” and he recognised further potential in the two businesses working together. “Customers and accountants will further benefit from real-time visibility of payments, seamless reconciliation of payment data into Sage’s accounting and payroll products and role-based access controls.”
The changes mean customers will be able to create a full audit trail of payment activities.
Myles Stephenson, chief executive of Modulr, added: “Our innovative partnership with Sage will enable SMEs to address the significant burden created by existing inefficient payment processes.
“Our fully integrated service provides a fast, easy and reliable alternative to processing payments via traditional business and corporate banking.”
- Moneybox app announces Open Banking merger with Santander
- TrueLayer launches new Open Banking powered payment method for replacing cards
- SYNETIQ introduces new HSBC Open Banking payments platform
- Tesco Pay+ surpasses £1 billion in payments since launch
- 2020: A transformational year for Banking as a Service