Beirut, March 18, 2019: areeba launched Swipe2B in partnership with Swipezoom, a leading global financial technology provider. This innovative business-to-business payment tool, creates a digital connection between company and supplier, allowing them to settle their invoices via a paperless platform that is fast, secure, and fully automated.
Cash and check handling has long been at the core of business transactions between companies and suppliers and is fraught with manual paper based processes that are both time consuming and prone to errors. areeba wanted to automate this process, turning it into a seamless and paperless process. Swipe2B is a ready-to-use solution with instant implementation and no hardware or software to install. It serves as a hub that facilitates payments and benefits both the company and supplier by unlocking liquidity and simplifying payable and receivable reconciliation; thus improving company-supplier relationships and accelerating the conversion of B2B payments from paper checks to electronic payments.
Ramzi Saboury, Chief Commercial Officer at areeba, said: “We are constantly seeking ways to establish a solid foundation to a cashless society. As we have noticed that a majority of B2B payments are still being handled via check and cash, we detected a need for automated solutions to process invoices and pay suppliers efficiently. Through our partnership with Swipezoom, areeba now has the ideal solution for a seamless payment acceptance experience between corporates and their service providers, as it enables enterprises to optimize their invoice and payment processes with payment automation tools that improve the speed, ease and security of their commercial payments. With a click of a button, companies can use their corporate credit cards to pay their suppliers, while enjoying credit facilities and earning rewards as provided by their issuer bank, while the supplier receives his payment within a shorter period of time.”
“With Swipe2B, the need of companies wanting to pay later and suppliers needing to get paid sooner is no longer a tug-of-war. Companies are able to generate revenue and enjoy extended credit, while suppliers can unlock much needed liquidity, all at the same time,” said Amer Qavi, CEO of Swipezoom. “We’re excited to partner with like-minded fintech in areeba, to bring the region’s only card-to-bank liquidity solution to the Lebanese market. At Swipezoom, we’re committed to launching innovative technology solutions for the financial services sector for our clients and partners across Europe, US and the MENA region.”