fintech Content

Corcentric acquires payments specialist Vendorin for $100 million

Source-to-pay provider Corcentric today announced a $100 million acquisition of the payments technology specialist Vendorin to add to Corcentric's spend and revenue management solutions and services that help businesses shed paper checks and adopt digital B2B payment methods.

“Corcentric is following the money in B2B,” said Spend Matters Founder Jason Busch, who just wrote an analyst column on where payments vendors fit into the payments technology market. Corcentric’s acquisition of Vendorin represents a market on the move, he says. "This uniquely North American phenomenon (owing to the legacy of checks) is a land grab at the moment that offers the possibility of both SaaS subscription and rebate/transactional income for providers.”