Oro Inc. Unveils Innovative OroPay for Streamlined B2B Payments
OroPay Launch: Revolutionizing B2B Payments
Oro Inc., a renowned leader in open-source B2B digital commerce, has recently made a significant advancement in the payment processing landscape with the launch of OroPay. This innovative platform is meticulously designed to support manufacturers and distributors leveraging OroCommerce. OroPay is set to transform how businesses handle payments by consolidating invoicing, payment processing, ERP links, and B2B commerce into one cohesive system.
Elevating Efficiency in Business Transactions
Current B2B ecosystems often involve disparate systems for managing invoicing and payments, which can lead to inefficiencies and hinder customer experiences. The introduction of OroPay aims to eliminate these hurdles by integrating payment functionalities directly within OroCommerce, ensuring a smoother transaction process for both sellers and buyers.
Enhanced User Experience
With OroPay, sellers can effortlessly manage invoicing, payments, and account information within a single interface. Buyers benefit from the convenience of having multiple payment options, including credit cards and ACH transactions. This integration ensures that everything remains interconnected, providing real-time updates from order placement through to payment reconciliation.
CEO's Vision on OroPay
According to Yoav Kutner, CEO of Oro Inc., "OroPay signifies a pivotal shift in B2B transaction processing. It is designed to be secure, efficient, and an essential component of our digital commerce offerings right from the start. Our goal is to enable clients to operate more swiftly, reconcile transactions smoothly, and enhance their overall customer service capabilities."
Strategic Partnership with Global Payments
OroPay is powered through an expansive partnership with Global Payments, a premier name in payment technology renowned for managing over 73 billion transactions yearly across more than 100 countries. This collaboration allows OroPay to deliver secure, optimized card processing with advanced fraud protection measures and compliance with contemporary regulations.
Benefits of the Global Payments Integration
The association with Global Payments enables OroPay to support both Level 2 and Level 3 credit card processing, thereby significantly reducing transaction costs for larger B2B deals. Users can enjoy various advantages, including sophisticated fraud protection methods, adaptable payment solutions, and compliance with local and international payment standards.
Flexibility for Modern B2B Needs
Understanding the dynamic landscape of B2B commerce, OroPay is engineered for flexibility. It accommodates multiple operational scenarios such as partial payments, handling of credit memos, and the requirements stemming from mergers and acquisitions, all tailored to reduce the operational burden on businesses.
Advantages of OroPay
Some highlighted benefits of OroPay encompass a unified payment ecosystem that syncs seamlessly with ERP and financial systems, notable reductions in manual reconciliation efforts, and improved cash flow management through diverse payment avenues that are always accessible to clients.
Competitive Pricing Structure
Furthermore, OroPay ensures customers encounter transparent transaction fees, which are strategically positioned to meet or exceed current market prices, reinforcing Oro Inc.'s commitment to providing exceptional value in the B2B space.
OroPay: An Essential Feature for Users
All OroCommerce deployments commencing with version 5.1 LTS will include OroPay by default. Businesses can easily opt to activate or decline the feature without incurring penalties. Collaboration with Global Payments also means dedicated support for implementation and training, ensuring that customers have the resources they need for a successful transition.
About Oro Inc.
Founded in 2012, Oro Inc. specializes in creating OroCommerce, the only open-source digital commerce framework purpose-built for B2B entities. The Oro platform supports a variety of global manufacturing, distribution, and wholesale businesses, equipped with integrated CRM, marketplace, and workflow functionalities. Recognized as a Visionary in Gartner's 2024 Magic Quadrant for Digital Commerce, Oro Inc. continues to lead the field with its innovative approaches.
Frequently Asked Questions
What is OroPay?
OroPay is a newly launched payment platform by Oro Inc. designed to unify invoicing, payments, and B2B commerce functionalities within OroCommerce.
How does OroPay benefit B2B businesses?
OroPay enhances operational efficiency by integrating various payment methods, reducing manual tasks, and providing a seamless experience for both buyers and sellers.
Who is powering OroPay?
OroPay is powered by Global Payments, a leading provider of payment technologies, ensuring robust processing capabilities and compliance.
What are the advantages of using OroPay?
OroPay offers features like flexible payment options, reduced transaction fees, and improved cash flow management, tailored for modern B2B needs.
When is OroPay available?
OroPay is available by default with OroCommerce version 5.1 LTS and can be activated without penalties by customers.
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