Noventis, Nexus partner for card-based real estate supplier payments

Payments processor Noventis has teamed with Nexus, a real estate industry accounts-payable specialist, to streamline B2B payments between building operators and their suppliers.

The integration will enable checks written for real estate company services like utilities, telecommunications and insurance to be immediately converted to virtual credit card payments, shortening payment time, according to a Wednesday press release.

Nexus, based in Houston, provides procure-to-pay software customized for real estate companies’ accounts-payable processes. The move allows Nexus to expand the range of options for its customers, particularly in timing the arrival of payments.

“Suppliers will be able to receive virtual credit card payments effortlessly and securely with no adoption requirements,” said Jennifer Coolidge, Nexus’ president and founder, in the release.

Falls Church, Va.-based Noventis provides a proprietary technology to send virtual credit card payments to suppliers that are not equipped to accept standard virtual credit card payments, the release said. Once a check is received, the virtual card payment is sent within hours to Noventis’ national network of B2B suppliers.

“Even industries with inherent, longstanding barriers can reap the benefits of payment automation when fintechs work together,” said Blair Jeffery, chief operating officer of Noventis, in the release.