Remove ACH Remove Payee Remove Positive Pay
article thumbnail

Business Email Scams Spin Even Wider Webs

PYMNTS

According to the AFP, an attacker will target the payment rail that is most commonly used by the victim to pay suppliers, thus, limiting suspicions. This means that, though ACH payments have developed a reputation of greater security compared with checks, BEC scammers are also committing the scam to request fraudulent ACH transfers, too.

Scams 55
article thumbnail

Payment Automation: The Future of Business Transactions

Nanonets

At the business level, payment automation involves using software tools to manage and complete the process of paying vendors. This includes approving payments, sending them through different payment methods such as ACH transfers, checks, wires, and virtual card payments. Categorizing and coding transactions based on business rules.