Select a page

Banking News

RBC boosts accounts payable capabilities with fintech purchase

RBC boosts accounts payable capabilities with fintech purchase

(9 July 2019 – Canada) Royal Bank of Canada (RBC) has acquired WayPay, a local startup that provides businesses with cloud-based accounts payable automation technology.

Ontario-based WayPay connects to accounting platforms, helping companies reduce their payables pain points by improving the reconciliation and approvals process for time and cost savings.

RBC says the acquisition gives it valuable new capabilities to help customers transitioning away from paper cheques to digital payments.

Greg Grice, EVP, business financial services, RBC, says: "By integrating WayPay’s innovative payment solution, we’re able to provide clients with a secure, simple and automated payables and payments solution as part of RBC’s comprehensive suite of business offerings to help them manage and grow their business with greater ease and efficiency."

WayPay will continue to be agnostic, meaning firms can use it even if they are not RBC clients.

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.