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 2023, 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 195 words used.
Boost launched in January 2009 and has made a significant impact on the adoption and efficiency of commercial card payments, creating solutions that are purpose-built for B2B clients.
Boost has evolved the way businesses utilize commercial cards, opening the door to straight-through processing (STP) and cost-effective alternatives to wires, checks, and ACH. Today, 64 of Fortune 100 companies send or receive payments using Boost’s payment platforms. The company offers patented solutions that are purpose-built for B2B, including Boost Intercept®, Dynamic Boost®, and Boost 100®. Boost’s technology platform serves as a bridge between enterprise buyers and suppliers, optimizing the use and acceptance of commercial cards around the world.
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. The effectiveness of Boost’s technology and network relationships can be found within the company’s esteemed partnerships with Mastercard and Visa, receiving public recognition from the CEOs of both companies. Mastercard currently utilizes Boost to pay their suppliers in 40+ countries and American Express recently began offering Boost Intercept at no additional cost to their suppliers to help simplify virtual card payments.
- 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 2023 that you wish to bring to the judges' attention (up to 250 words):
Total 234 words used.
Boost processed over 8.8 million transactions in 2024 marking a 148% increase compared to 2023. The company also realized a 91% YoY increase in total processing volume, including setting a new company record for largest single card transaction at $65.8 million.
In 2023, Boost launched Boost 100, a solution focused on the specific needs of buyers who want to digitally transform their accounts payable processes (AP) for more flexibility and control while optimizing their working capital. The solution empowers enterprise buyers to pay by card 100% of the time, regardless of how suppliers prefers to get paid.
In 2024, the Boost 100XB® feature was added to the Boost 100 platform, enabling cardholders to pay suppliers around the world without expensive cross-border card assessment fees. An industry first for enterprise-level businesses, Boost 100XB allows enterprise buyers to use their existing U.S.-issued commercial cards to pay suppliers in more than 180 countries.
Additionally, in October 2024, Boost and American Express announced that qualified American Express suppliers will have access to Boost Intercept, Boost’s patented Straight-Through Processing (STP) solution, at no additional cost. This collaboration enables suppliers to streamline acceptance of American Express virtual Cards and minimize the challenges associated with manual processing of virtual Cards. Boost is also a certified as a Business Payments Solution Provider (BPSP) with both Mastercard and Visa to provide this solution across all major commercial card issuers.
- 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 203 words used.
Boost customers have reported saving up to 50% on the B2B processing costs and reducing their Days Sales Outstanding by 40%, returning significant value to the bottom line.
Mastercard, Visa and American Express recognize Boost as a leader in B2B payment solutions, a testament to our vision and innovation solutions.
- Boost received public recognition from the CEOs of Mastercard and Visa.
- Mastercard utilizes Boost to pay their suppliers in 40+ countries.
- American Express offers Boost Intercept at no additional cost to their suppliers to help simplify virtual card payments.
Boost Intercept® drove major operational efficiency and seven-figure savings at Ferguson:
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40% reduction in processing fees on virtual cards resulting in significant cost savings.
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Broke a deadlock in negotiations with a multi-million-dollar year customer by offering payment through Boost, preserving recurring revenue in the process.
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Redeployed the labor hours of three full-time credit team employees who manually processed hundreds of card authorizations daily
Positive reviews from enterprise companies:
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“We've saved significant time by reducing manual processing using Boost. It has saved our team about 10 to 15 hours monthly.
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“Boost has helped to reduce our interchange costs. Intercept's virtual card payment process has reduced fees by about $350,000 to $400,000.
- 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 8 words used.
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