Conversation with Marc Divay, General Manager of Corporate Payments at Edenred Pay

Conversation with Marc Divay, General Manager of Corporate Payments at Edenred Pay

Pascal Burg
October 3, 2023
1. Can you describe what Edenred Pay does and the types of clients you serve?

Edenred Pay results from the combination of CSI (Corporate Spending Innovations), the leader in B2B payments automation acquired by Edenred in January 2019, and IPS, a leader in invoice automation acquired last October.

Edenred Pay is the market leader in B2B payments automation. Our integrated platform connects buyers with trading partners, ERPs, banks, Fintechs, and payment rails to optimize invoice processing, supplier enablement and supplier payments, and create a frictionless process for secure digital B2B transactions.

Edenred Pay's flexible technology, open architecture, advanced automation, and integrations empower optimization of invoice-to-pay and order-to-cash processes. The result is an innovative approach to B2B transactions that delivers value and provides a better experience for all parties across the B2B payments ecosystem.

Our core focus is North America, where we serve mid-to-large market customers with market-leading expertise in Media & Advertising, Hospitality, Property Management, Golf & Country Clubs, Utilities/Telco, Healthcare and Education. Edenred Pay also powers white-label or fully embedded payments automation programs for banks and software players.

2. How do you see the B2B payments ecosystem evolving? How does Edenred Pay stay ahead of the curve?

Driven by the growing demand for efficiency and seamless experiences, the B2B payments ecosystem is undergoing a remarkable transformation. Both payers and payees are increasingly seeking solutions that streamline their payment processes and enhance overall operational efficiency, which require more integrations between all parties.

At Edenred Pay, we are committed to staying ahead of the curve in this evolving landscape. We are continuously expanding our own ecosystem to better orchestrate all B2B transactions, by routing both money and data flows. This involves collaborating and integrating with a diverse range of partners, including ERP and software players, financial institutions, payment acquirers, and AR specialists like Mastercard Track, Boost, or Billtrust.

Our focus is on developing innovative technology, combined with strong human capital around payment and vendor support, to deliver industry leading results. Our platform empowers real-time payment decisioning, optimized payment delivery and data exchange, through automation and integrations. Speed and accuracy are paramount in the B2B payments world, and we are dedicated to providing solutions that ensure payments are made efficiently and securely.

When we integrate with bank and software partners through our robust set of APIs and webhooks, our fully embedded solution offers a seamless experience to the customers, fully powered by Edenred Pay.

Beyond payment issuing, processing, and delivery, Edenred Pay is expanding its platform to offer an end-to-end invoice-to-pay solution. This holistic approach enriches the value we provide to all parties involved in the payment process, from the payer to the payee. By offering a comprehensive suite of services, we aim to simplify and enhance the entire payment ecosystem, making it more efficient and user-friendly.

3. From your perspective, are there different payment needs between corporates in the US vs. other regions like Europe?

One notable distinction is the unique prevalence of paper checks in the US B2B payment landscape, still accounting for almost 40% of B2B transactions. This presents a large opportunity for digitalization, particularly in the realm of virtual cards.

Virtual cards, in this context, offer a compelling solution. They enable seamless payment processes, reducing the administrative burdens associated with paper checks or ACH. Moreover, they serve as a powerful tool in preventing fraud, by generating unique, one-time-use card numbers for each transaction. This added layer is especially valuable in an environment where fraud concerns are rising.

Additionally, virtual cards simplify reconciliation efforts for businesses by providing detailed transaction data and real-time reporting. This streamlines financial operations and enhances transparency, a critical aspect of modern corporate payments.

In essence, while payment needs across regions share common goals of efficiency and security, the US is at a turning point in terms of payment and processes digitalization. There is a need for integrated, end-to-end, invoice-to-pay solutions, like the Edenred Pay platform.

4. What do you do in your spare time? What are your hobbies?

In my spare time, I'm an avid traveller and adventurer. I have a deep passion for exploring new places and cultures. Whether it's sailing along coastal routes or embarking on scuba diving adventures, I find immense joy in the freedom of the open sea and the wonders of the underwater world. These activities not only provide relaxation but also offer a unique perspective on life beyond the corporate landscape. It is also a unique opportunity to share unique experiences with my family, as a father of two.

As a passionate sailor, I am proud of the Edenred Dream Team. We are 12,000 employees supporting talented skippers in fantastic adventures around the world.  

5. What book are you reading?

I am currently reading Noise: A Flaw in Human Judgment by Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein. It is a fascinating book about how randomness and noise can affect our decision-making in all areas of life, from medicine to law to business. I am finding it to be very thought-provoking and relevant to my work by also my day-to-day life.

The other book currently by my bedside is Leading Growth: The Proven Formula for Consistently Increasing Revenue by Anthony Iannarino, which I already shared with my entire Executive team to accelerate our revenue growth.

The content of this article does not reflect the official opinion of Edgar, Dunn & Company. The information and views expressed in this publication belong solely to the author(s).

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