U.S. Bank is offering embedded payments capabilities to accounts payable automation software solution PaperTrl.

The bank launched Instant Card in 2020 — a payment method for its business clients to use within the U.S. Bank app — but its clients were asking for a way to embed the capability into their own apps, Bradley Matthews, head of digital payments innovation and partners at U.S. Bank, told Bank Automation News.

“Card-as-a-Service takes all of that same capability [as Instant Card] — the tokenization, card management controls — and provides it as a service to any of our partners, so they can embed it into their experience,” Matthews said.

For example, PaperTrl wanted to build a mobile app that had a virtual card embedded in it. That’s where U.S. Bank came in, PaperTrl Chief Executive Steve Weber told BAN. One of PaperTrl’s clients had more than 100 individual corporate cards in hand that were to be used for ad hoc expenses; however, keeping track of receipts and coding projects at the end of each month is taxing.

With U.S. Bank’s open APIs, PaperTrl offers pre-reconciled virtual cards to its clients that have controls, project codes, timelines and costs pre-programmed down to the penny — all through an embedded experience, Matthews said.

The embedded payment offering will be available to PaperTrl clients in June, Weber said.

Farmers & Merchants extends partnership with Jack Henry

Farmers & Merchants Bank will use Jack Henry’s Banno Business technology to help the bank grow agricultural and business accounts.

As the Virginia-based bank expands, it is also working with Jack Henry to deploy a treasury management service for business clients, according to a March Jack Henry release.

“We have partnered with [Jack Henry] to drive the continual improvement of features, functionalities and security that will help ensure that our account holders have faster and better modern services,” Farmers & Merchants Bank Chief Executive Mark Hanna said in the release.

During the tech provider’s fiscal third quarter, Jack Henry signed 39 new clients to its Banno Retail platform, Jack Henry Chief Executive David Foss said during today’s earnings call.

Additionally, in April, First Community Bank, Sunrise Bank and Today Bank selected Jack Henry as their core provider, according to a Jack Henry release.