Company: Boost Payment Solutions
Nomination Submitted by: Three Rings Inc.
Company Description: Boost Payment Solutions was founded in 2009 and operates in 45+ countries. Headquartered in New York, NY, Boost's patented technology solutions bridge the needs of B2B buyers and suppliers worldwide, eliminating friction and delivering process efficiency, payment security, data insights, and revenue optimization.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Financial Services - Medium
 Nomination Title: Boost Payment Solutions
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2022, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 199 words used.
Boost Payment Solutions is a global leader in B2B payments with a platform purpose-built to meet the complex and evolving needs of large enterprises. The company’s solutions – Boost 100®, Boost Intercept® and Dynamic Boost® – are part of the Boost Technology platform that bridges the payment needs of buyers and suppliers. Founded in 2009, Boost operates in more than 45 countries with over half of the 2023 Fortune 100 companies having made or received payments with Boost. The company is certified as a Business Payments Solution Provider (BPSP) with Visa, granting them additional options for hybrid payment modalities.
Boost received three utility patents for Boost Intercept® and Dynamic Boost®. Boost Intercept a straight-through processing (STP) payment technology that eliminates the need for human intervention in payment and reconciliation. Dynamic Boost® offers buyers and suppliers payment flexibility based on business rules that fit their mutual needs. The latest solution, Boost 100®, brings together all the solutions and services needed to enable up to 100% of AP spend on commercial cards.
By integrating commercial cards, Boost helped businesses across industries reduce their dependency on traditional payment methods and utilize the growing need for digital payment options, automation, and payment security.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2022 that you wish to bring to the judges' attention (up to 250 words):
Total 249 words used.
Boost Payment Solutions achieved remarkable growth in 2023, with a 195% YoY increase in transactions with over $12 billion processed, including a record-setting $50 million commercial card payment. This reflects the company's expanding presence in healthcare, construction, and manufacturing. Notably, over 50 percent of the 2023 Fortune 100 companies have made or received payments through Boost.
Boost secured three utility patents for Boost Intercept® and Dynamic Boost®. Boost Intercept®, now patented in the U.S. and Canada, streamlines payments and reconciliation by eliminating the need for human intervention. Dynamic Boost® the industry's first platform to apply dynamic authorization and pricing to commercial card payments, offering flexibility based on mutually beneficial business rules.
Boost partnered with industry leaders Conferma Pay, OneSource Virtual (OSV), and Esker. The Boost and Conferma Pay alliance is dedicated to developing a "best-in-class" virtual payment solution to expedite the adoption of virtual cards for B2B payments. Boost and OneSource Virtual (OSV) partnered by integrating OSV's Invoice Pay solution with Boost Intercept®’ multi-patented straight-through processing (STP) solution. The partnership stands out as the exclusive in-tenant solution within the Workday ecosystem, introducing additional digital payment options for OSV customers. Boost's partnership with Esker has pioneered the transformation of virtual card processing for accounts receivable (AR) departments. This collaboration eliminates manual efforts, streamlining payment reconciliation and marking a leap forward in enhancing efficiency.
Boost launched the Boost 100® platform that enables buyers to pay by card 100% of the time, regardless of how their suppliers choose to be paid.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 250 words used.
During the pandemic, businesses couldn’t send traditional checks or wire transfers and had to use other ways to conduct business without being in a central location. By utilizing Boost Intercept, Boost’s patented STP solution, businesses could send and receive secure payments without the need for a manual intervention to confirm, process, and distribute funds.
Since, Boost has been a key partner for many companies, utilizing their patented payments technology to introduce end-to-end automation, reduce processing expenses, protect sensitive data, and prevent fraud. Each partnership brings distinctive value, addressing specific pain points in the B2B payment journey and contributing to the overall advancement of financial processes. Over the past three years Boost grew their total active relationships by over 80%, processing payments for over 4 million invoices and helping traditional businesses overcome the challenges of legacy payment structures. Over the last two years, Boost has successfully processed billions worth of payments with no fraud losses.
In 2022 and 2023 macroeconomic uncertainty and increases in borrowing rates made working capital a top priority for all businesses. Boost’s solutions created a win-win by extending days payable for buyers while accelerating payment terms for suppliers. On average, Boost is able to help accelerate payments to suppliers by 18 days.
Boost has received public recognition from the CEOs of both Mastercard and Visa for their impact on the industry. Mastercard utilizes Boost to pay their suppliers in 30+ countries and more than half of Fortune 100 companies send or receive payments using Boost’s payment platforms.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 191 words used.
Boost has recently released a business momentum highlighting the key business highlights from 2023. The company took home Business Intelligence Group BIG Innovation awards in 2023 and 2024 for its work in moving the payment industry forward. Boost was also presented with four Stevie American Business awards for Achievement in Finance (Gold), Company of the Year, Financial Services (Silver), Technical Innovation of the Year (Bronze) and Most Innovative Company of the Year (Bronze). The company was a finalist for the UK Fintech Awards and was also included on the INC 5000 for the fourth time and Great Places to Work lists for 2023.
Even in 2024, many industry sectors operate in payments “dark ages.”
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