PYMNTS

AUGUST 8, 2019

The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. For many businesses, which payment tool is best depends on many factors, from what their vendors prefer to payers’ own cash positions.

Accounts 57

Accounts ACH B2B Payments 57

PYMNTS

AUGUST 19, 2020

This can come in several forms, but what’s important, said Fordyce, is to optimize the costs and fees associated with cards, checks, ACH and other rails for all parties involved — not just the payer. “That’s very attractive to a vendor or payer, depending on what their cash flow needs might be.”

Automation 127

Automation B2B Point-of-Sale (POS) Payer 127

PYMNTS

SEPTEMBER 26, 2019

Push, or credit, transactions see payers instructing their banks to send money from their accounts to recipients’ accounts, whereas pull, or debit, transactions have recipients’ banks extract money from payers’ accounts. Payers provide PINs or signatures, which grant recipients permission to extract funds.

Payer 67

Payer Real Time Payments Push-to-Card Payee 67

PYMNTS

NOVEMBER 20, 2019

The market is seeing increased usage of automated clearing house (ACH) payments in particular, according to Nacha, which reported that more than 306.7 million ACH electronic funds transfer (EFT) payments were made from health plans to health providers in 2018 — an 11.5 This put the value of ACH-based healthcare payments at $1.59

Real Time Payments 44

Real Time Payments Electronic Funds Transfer (EFT) ISO 20022 Payer 44

EBizCharge

JULY 15, 2024

The primary difference hinges on whether the payer remits funds before or after receiving the benefit of a service or product. Scheduled payments: Scheduled payments refer to predetermined and agreed-upon dates when payments for invoices are to be submitted by a payer to a payee.

Disputes 52

Disputes Payer Legal Service Provider 52

Stax

MARCH 14, 2024

ACH payments ACH payments, sometimes known as EFTs (electronic funds transfers) or echecks , are made through an Automated Clearing House that acts as an intermediary between bank accounts to complete bank transfers. ACH payments take up to three days to process and cost around 1% of the transaction with a $10 cap.

B2B 88

B2B Process B2C Credit Cards 88

PYMNTS

NOVEMBER 19, 2019

The partnership will allow WEX to connect its corporate customers to Billtrust’s B2B payments services, which addresses friction for both corporate payers and the suppliers accepting payments. “We’re pleased to partner with Billtrust to solve for the ‘last mile’ of automated settlement and reconciliation. .

B2B 51

B2B Payer Reconciliation NOV 51

PYMNTS

AUGUST 11, 2020

Indeed, solving some of the biggest AP challenges increasingly requires aa strategic focus not just on the payer, but on the supplier accepting that transaction. With the announcement that BPN is expanding to include support for ACH and wire transactions as well as card payments, Visa and Billtrust are casting a wider net of collaborators.

B2B 110

B2B Payments Wires Wire 110

PYMNTS

MAY 4, 2020

While ACH payments can be an efficient way to settle invoices, for the suppliers that can accept them, virtual cards will become a critical and strategic B2B payment method for both buyers and suppliers. For both sides, the transaction data of a virtual card payment means streamlined reconciliation and reporting.

Payer 66

Payer B2B Due Diligence Reconciliation 66

PYMNTS

JUNE 29, 2018

“We want to offer our customers the widest solution, soup to nuts — that means creation of the remittance data, creation of the payment, reconciliation of the payment, treasury management services, the entire spectrum,” he noted, adding that virtual cards can address all of these needs for insurance firms. ”

Faster Payments 40

Faster Payments Same Day ACH ACH Remittance Data 40

PYMNTS

JULY 21, 2020

The result of Amex’s acquisition of acompay last year, One AP supports a range of payment methods including commercial and virtual card, as well as ACH and check, to ease friction on the supplier side of transactions. SAP ERP Integrates With ezyCollect.

Commercial Card 70

Commercial Card B2B Payer Transactions 70

PYMNTS

MARCH 29, 2018

With paper checks, of course, AP and accounts receivable (AR) professionals already have extra work in terms of manual data entry, reconciliation, fraud prevention and more. ACH payments are subject to NACHA rules and require you to store bank information for payees,” he said.

Checks 43

Checks B2B ACH Payments 43

PYMNTS

OCTOBER 31, 2019

It’s great to get a check, or wire, or ACH, but if you don’t know what it’s to be applied to, you have a huge cash application and reconciliation challenge.”. It enables payment information to travel with the payment so that the payment can be properly applied to the appropriate invoice,” he said. “In The Path to Integration.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

MAY 6, 2019

Payers’ banks review transactions when push payments are initiated, and if there is not enough money available, transactions are declined immediately. Borrowers typically would have to wait for funds to be delivered by automated clearing house (ACH) transactions or paper checks, which could take a week to arrive. .

Push-to-Card 44

Push-to-Card Risk Debit Card B2C 44

PYMNTS

FEBRUARY 18, 2020

“Unlike traditional B2B areas, where the supplier and customer have agreed upon pricing, and it is the exception when the payment amount does not equal the billed amount, “ he told PYMNTS, “it is standard practice in healthcare for a provider to bill one amount only to have the payer decide to pay a completely different amount.”.

B2B 52

B2B Faster Payments Payments ACH 52

Nanonets

SEPTEMBER 21, 2023

Here is a brief overview of the process: Initiation: The payment process begins with the creation of an electronic payment request by the payer. Transmission: The payment confirmation is transmitted back to the payer's system via EDI. The payer may also send an electronic message to confirm receipt of the payment confirmation.

Payment Solutions 52

Payment Solutions Payee Payments Payer 52

PYMNTS

JUNE 11, 2020

Supporting the digitization of B2B payments via virtual card or Automated Clearing House Network (ACH), for example, introduces the new challenge of ensuring that vendors can accept those payments. A growing point of B2B payments friction in the cross-border transaction space lies in the management of payment instructions. ”

B2B 52

B2B Payee Cross-Border Small Business 52

Stax

JULY 9, 2024

Going digital reduces paperwork and manual processing for businesses by automating payment reconciliation, invoicing, and record-keeping processes. Peer-to-peer electronic payment methods link to the payer and payee’s bank account to withdraw and deposit funds, providing a way for users to easily perform a funds transfer.

Digital Payments 163

Digital Payments Online and Mobile Banking Contactless Payments Payments 163

PYMNTS

NOVEMBER 15, 2019

Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department. “But in the cross-border space, it’s a different ball game.”

B2B 65

B2B Cross-Border Commercial Card Cross-Border Payments 65

PYMNTS

MARCH 24, 2017

Their integration comes at a time when the world of FinTech is pleading for B2B payments to ditch paper (that includes checks) and get on board with, at the very least, cards and ACH. For one, many SMEs have still not been onboarded to electronic payment rails like ACH. That can be for a variety of reasons, he explained.

Checks 40

Checks FinTech AFP B2B 40

Nanonets

NOVEMBER 30, 2023

Fraudsters have expanded the frequency of stealing paper checks in the mail and washing checks to fraudulently revise payees and amounts and steal money from the payers. Reconciliation is best performed as an automated process instead of using manually prepared spreadsheets. 

Best Practices 52

Best Practices Accounts Automation Electronic Funds Transfer (EFT) 52

Fintech Finance

APRIL 22, 2024

Coupa can now connect to Paymode-X, Bottomline’s business payments network that offers Premium ACH, to automate payments from buyers to suppliers. Premium ACH is a powerful extension of the Coupa platform and requires no data or technology integration, or additional storage.

Business Payments 52

Business Payments ACH Reconciliation Payments 52

PYMNTS

OCTOBER 22, 2019

Bank introduced a new eBilling tool also designed both for billers and payers. Designed to take the guesswork out of AP, Bank of America’s new Accounts Payable Optimization solution is certainly marketed as a tool that reduces friction for corporate payers. Bank Targets Both Billers and Payers.

Payer 40

Payer B2B Commercial Card Faster Payments 40

PYMNTS

JUNE 5, 2018

Working with PayPal, the company said, could ease friction for both payers and payees in the B2B payment process, encouraging firms to pay their vendors more quickly. ” For corporate buyers, that yields “the ability to view the full reconciliation of payment” in a bird’s eye view of spend and expenses.

B2B 46

B2B PayPal Payments Payee 46

EBizCharge

APRIL 25, 2024

The 10 most commonly accepted types of payment methods are: Cash Debit cards Credit cards Mobile wallets ACH transfers Paper checks and eChecks Bank transfers Contactless payments Online payment gateways Payment apps 1. Therefore, businesses are increasingly adopting methods that meet customer needs.

Online and Mobile Banking 52

Online and Mobile Banking Debit Card Credit Cards Contactless Payments 52

PYMNTS

JANUARY 10, 2019

. “The beauty of the virtual card is that it’s the only payment modality today that solves the four biggest challenges in [the] payment process: speed, good funds, reconciliation [and] fraud risk,” explained Blair Jeffery, chief operating officer at payments processing company Noventis.

Reconciliation 61

Reconciliation B2B ACH Addressing 61

PYMNTS

DECEMBER 30, 2020

Yes, many organizations shifted the needle away from the paper check toward ePayment tools like commercial cards and ACH as a result of necessity. According to Markus Jansson , chief product officer of Payer , for instance, real-time onboarding of new customers on eCommerce platforms will become vital to the success of B2B vendors.

B2B 119

B2B Payer Payments BNPL 119

PYMNTS

JUNE 15, 2018

But the reconciliation, security, payment terms and buyer-supplier relationship do not mean one size fits all for B2B transactions initiated on an eCommerce platform. “When you’re a B2B seller, you want to combine the traditional way of being paid — which is ACH for the U.S., “But these are complex to reconcile.

B2C 40

B2C B2B Reconciliation Payment APIs and Integration 40

Nanonets

MAY 30, 2023

Looking to automate the mundane & mechanical Payment Reconciliation process? Try Nanonets ™ AI-based OCR solution to automate Payment Reconciliation in your organization!  Both payer and payee receive notifications of funds transfer, which makes it a dependable process. per check avoided.  

Payment APIs and Integration 52

Payment APIs and Integration Credit Cards Payment Reconciliation Online and Mobile Banking 52

PYMNTS

NOVEMBER 23, 2020

As Lapusneanu noted, the ability to marry the data within a FinTech platform like Fiskl with the bank data of the small business user provides a more holistic view of finances and promotes automation in transaction categorization and reconciliation to ensure small businesses are in a healthy cash flow position.

Finance 106

Finance Payment Gateways Gateways Small Business 106

PYMNTS

OCTOBER 23, 2019

Handling paper checks, bills and coins requires manual processing and creates significant reconciliation challenges, he said. Until that connectivity is in place, he said, Bill Pay Exchange will continue to facilitate ACH or ACH-like payments. So that’s something that’s new for U.S. online bank bill pay.”.

Visa 41

Visa Real Time Payments Online and Mobile Banking Payments 41

PYMNTS

OCTOBER 31, 2017

One of the biggest pro-check arguments in B2B payments today is that the payment rail lets corporate payers get a few extra days off to float cash. This is a problem for any business, and Cawthorne said the challenge of reconciliation and matching ePayments to eInvoices can be found across verticals.

Treasury Management 41

Treasury Management Treasury Remote Deposit Capture Disputes 41

PYMNTS

SEPTEMBER 10, 2018

Digital payments, faster transaction times, streamlined reconciliation, and greater visibility and control are all key components to an improved corporate payments offering, noted Uma Wilson, director of bank products at UMB Financial Corporation. “In corporate America, people are not just eight-to-five,” she said.

Commercial Card 40

Commercial Card Payer Reconciliation B2B 40

PYMNTS

JUNE 9, 2017

Beanworks is fighting through the headwinds in an effort to make such a frictionless experience possible for corporate payers. The company deploys third-party processors to integrate virtual card, wire and EFT/ACH payments into a single platform. ” she asked.

Accounts 43

Accounts Technology B2B Cash Management 43

Nanonets

FEBRUARY 7, 2024

of the total, up to $50 Same-day ACH transfer: 1% of the total, up to $30 Check within three business days: $20 International payments in USD: $20 flat fee for bank transfer or card; card payments incur an additional 2.9% 4 ERP Integrations 4 4.5 Payment Processing 4 4 Vendor Onboarding 4 4 Reporting and Analytics 3.5 4 User Experience 4.5

Payment APIs and Integration 52

Payment APIs and Integration Automation Online and Mobile Banking Accounts 52

Nanonets

FEBRUARY 13, 2024

Coupa is a comprehensive spend management platform that includes centralized request and approval workflows, invoice and expense automation tools, vendor onboarding and integration solutions, and a one-stop global payment platform for rapid-fire reconciliation.

Payment APIs and Integration 52

Payment APIs and Integration Cross-Border Automation AI 52

M2P Fintech

MARCH 28, 2024

Automated Clearing House (ACH) The ACH is a central system for electronic fund transfers, facilitating swift, secure, and cost-effective movement of funds between financial institutions. This approach empowers the payer to control the timing and amount of the payment, unlike pull payments, where the payee initiates the withdrawal.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59