IBOS member RBC acquires fintech startup WayPay

IBOS member RBC announces the acquisition of WayPay, a cloud-based payments fintech that offers business clients a best-in-class solution for accounts payable automation and payment optimisation.

By seamlessly connecting to leading accounting platforms, WayPay specialises in helping companies reduce their payables pain points by improving the reconciliation and approvals process, creating significant time and cost savings.

This acquisition enables RBC to expand the Bank’s digital profile and further strengthens RBC’s position as a leader in the digital market.

WayPay will add new capabilities for RBC to bring all payment types together onto one platform, providing clients with a more comprehensive view of their accounts while facilitating the shift from manual, paper-based processes to digital payments.

Read the full press release via RBC here.