A new partnership has been announced between Weavr, the embedded finance solutions provider and Paperchase, the global accounting firm, as the latter looks to eliminate the pain points associated with account payable (AP) processes while simultaneously boosting efficiency.
Weavr will integrate its Embedded Payment Run (EPR) solution into Paperchase’s platform. Delivered as a developer toolkit, EPR gives AP software providers everything needed to support real payment execution within their own applications. For bulk payments, this includes onboarding business customers, managing approval flows, and initiating payments – entirely within a seamless user experience.
By removing the need for SaaS platforms like Paperchase to integrate with multiple third-party fintech providers, EPR streamlines implementation while also creating new revenue opportunities through features such as payment cards and embedded lending.
On the partnership, Bimal Desai, project manager at Paperchase, commented: “We explored a number of partnerships to reduce rising costs and increase efficiency in the AP process. With Weavr’s open banking solution being compliant with financial regulation, it was a no-brainer to partner with them. Weavr’s faster payment options save us time and prevent errors with AP and vendor payments. The FPS process backed by Weavr open banking APIs eliminates the need for manual payment uploading and prevents human error.”
Speaking on the partnership and solution, Alex Mifsud, CEO and co-founder of Weavr, commented: “Weavr’s EPR solution is the ideal competitive boost for established SaaS products servicing AP activities, such as cloud accounting tools, procurement platforms, and dedicated AP management systems. EPR is a first-of-its-kind solution that enables businesses in this field to execute on an embedded finance strategy as easily as integrating any other software library to its technology stack.
“Open banking has long had a widely-acknowledged limitation when it comes to bulk payments. By going beyond the raw capabilities of open banking and Banking-as-a-Service to deliver a payments execution solution specifically designed for AP, EPR fills a long-standing gap in the B2B financial services space. We’re excited to see how it can change workflows for partners like Paperchase.”
Maintaining vendor relationships with the latest payment tech
With over 30 years of experience in financial management for the hospitality industry, Paperchase becomes Weavr’s first partner to bring EPR to its customers. Paperchase delivers bookkeeping support including Accounts Payable, VAT tax filings, and timely balance sheets and P&Ls that enhances restaurant operations and supports client expansion.
Hospitality is a high-speed business, and as restaurant accounting experts, Paperchase recognised the need to incorporate the latest payment solution technology to maintain vendor relationships and manage client cash flow efficiently.
Traditional AP systems often delay supplier payments by up to three days after invoice approval. EPR changes this by leveraging UK Faster Payments to enable near-instant transfers once payment is instructed. By automating data handling and connecting every step – from invoice approval to payment execution – into a single, embedded workflow, EPR significantly reduces manual work, errors, and the risk of fraud.
EPR launch
The launch of EPR follows Weavr’s recent research into UK AP professionals, which revealed a strong appetite for more integrated financial workflows. According to the findings:
- 94 per cent of AP software users would value the ability to make payments directly within the platforms they already use to process invoices.
- 86 per cent said they would be willing to pay more for this functionality if made available.
EPR was purpose-built to meet this demand – simplifying workflows, unifying the AP and payments process, and saving finance professionals significant time.
