RightPath Payments, Inc. announced today that it has signed an alliance agreement with IdenTrust, Inc., the global leader in trusted identity solutions, whereby the companies will enhance Business Payment Connection, RightPathâs flagship product, with comprehensive identity authentication capabilities.
Business Payment Connection (BPC) is an innovative, web-based, business-to-business payments facility that replaces a sellerâs trade credit with a lenderâs credit. BPC links lenders with both sellers and their buyers, and all parties have complete end-to-end visibility of every transaction. The solution speeds up sellersâ cash flow while extending buyersâ payment terms and placing the lender at the nexus of the relationship.
âIdenTrust provides a global framework for banks to authenticate their customers for secure commerce,â stated Dennis Lynch, CEO and Chairman of RightPath Payments. âThis alliance combines IdenTrustâs legally and technologically interoperable environment for authenticating and using identities worldwide with our end-to-end process flow. It will streamline the entire buyer-seller experience, regardless of where in the world the two parties operate.â
âGlobal corporations are seeking a secure, interoperable, non-repudiable yet straightforward process for their trade credit transactions. Many parts of this process remain very paper intensive. Together, IdenTrust and RightPath are undertaking the transition of this paper to electronic, digitally signed forms in which all parties in the supply chain are authenticated throughout the end-to-end process. This enables both buyers and sellers to have a complete audit trail with individual accountability at each stage,â stated Andrea Klein, Chief Marketing Officer of IdenTrust.
In conducting the research that led to the development of Business Payment Connection, RightPath found that the absence of customized payment solutions forces the majority of sellers to extend trade credit. BPC was designed specifically to replace trade credit, which slows down cash flow and places limits on sales growth. RightPathâs technology speeds up seller cash flow while allowing for extended buyer payment terms. It strengthens the relationship between buyer and seller; it gives both parties full online access to order or contract information, and can be tailored precisely to fit each individual situation.
The combined capabilities of IdenTrust and RightPath are increasingly important in the era of global Internet commerce. RightPathâs technology-based solution meets the pressing needs of growing businesses â for credit, payment speed, flexible terms, and streamlined ordering and invoicing. IdenTrustâs provides identity authentication solutions that are comprehensive and flexible enough to evolve with emerging threats, while ensuring the global interoperability required for e-commerce initiatives that increasingly span the world.