PYMNTS

OCTOBER 31, 2019

Take the lockbox, for example. It’s a service designed around the ubiquity of the paper check, and with checks still a popular payment tool in B2B transactions, lockbox services remain in high-demand. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

MAY 7, 2020

Although a recent uptick in B2B payments innovation has accelerated corporates’ migration away from the paper check, old habits die hard, and the legacy payment tool remains a mainstay in the accounts payable (AP) department. “Checks will be around for a while. “It really minimizes the disruption.”

Checks 67

Checks B2B Payment APIs and Integration Remote Deposit Capture 67

PYMNTS

OCTOBER 29, 2020

Much innovation in B2B has been focused on getting rid of paper checks. But as Barry McCarthy , president and CEO of Deluxe , said in an interview with Karen Webster as part of the ongoing series on B2B payments, it’s going to take a while. In B2B, said McCarthy, “we’ve started on a rapid journey to the new frontier of digital.

Checks 78

Checks B2B Payments C2B 78

PYMNTS

MARCH 18, 2020

Lockbox Data Headaches. The B2B arena certainly continues to see a high prevalence of paper checks in the U.S. While working from home can present a major challenge for AR teams receiving checks in the mail, Biegel noted that more often, businesses are accepting these payments via banks’ lockbox services.

Lockbox 80

Lockbox Reconciliation Checks Automation 80

PYMNTS

AUGUST 7, 2018

Formerly known as the Remittance Coalition, the Federal Reserve Bank of Minneapolis’ Business Payments Coalition is relying on corporate collaboration to promote the adoption of electronic B2B payments. Providing payers with this information could make it easier for them to quickly and efficiently pay their suppliers.

B2B 40

B2B Federal Reserve Payee FedWire 40

PYMNTS

JANUARY 13, 2021

Within the B2B space, especially, technology can improve payments processes that are time-consuming and error-prone. Companies may push back on the cost of new tech deployments but eventually can begin to ramp up the transition (conversion, really) to electronic payment methods from lockboxes and checks.

Process 94

Process AI Accounts Lockbox 94

PYMNTS

JULY 22, 2019

percent of survey respondents reporting that they are “very” or “extremely” satisfied with paper checks, it seems like B2B payers really don’t find them to be all that bad. Yes, checks were nearly bottom-of-the-barrel in terms of satisfaction levels, but with 63.5 Keeping the Supplier In Mind.

B2B 57

B2B Reconciliation Checks Lockbox 57