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. .”

Checks 67

Checks B2B Payment APIs and Integration Remote Deposit Capture 67

PYMNTS

JANUARY 21, 2019

That might mean discovering a segment of vendors that are ripe for virtual card payments or integrated remittance data. Accelerating payments by adopting electronic payment tools can streamline the integration of remittance data, and provide deeper insights into other areas of the procure-to-pay process that are ripe for improvement.

B2B 75

B2B Remittance Data Payments Process 75

PYMNTS

DECEMBER 20, 2018

The payments industry has been talking about the digitization of B2B transactions for years, maybe decades, with not much of a nudge of that needle. In some ways, the lack of digitization is the result of the financial services industry operating on misconceptions about the best ways to ensure that electronic B2B payments gain traction.

B2B 65

B2B Push-to-Card Payments Checks 65

PYMNTS

SEPTEMBER 21, 2016

In B2B payments, those characteristics could have a significant impact on supplier payments and other B2B payment habits. 20), researchers found a 1 percent increase in the use of paper checks for B2B payments compared to 2013 levels. For the 2016 AFP Electronic Payments Survey, released on Tuesday (Sept.

Same Day ACH 76

Same Day ACH ACH Checks B2B 76

PYMNTS

OCTOBER 23, 2019

It’s the reason why paper checks remain a constant in B2B payments: Although businesses may not particularly like them, organizations already know how to send, receive and reconcile them. B2B innovators have a choice when they decide to search for a better way to move money between corporates. Work With What You’ve Got.

Faster Payments 40

Faster Payments B2B RTP ACH 40

PYMNTS

DECEMBER 21, 2016

The NBA’s Orlando Magic may not be the first franchise that comes to mind when one thinks of B2B payments technology, but Viewpost changed that with its announcement Tuesday (Dec. Viewpost is like Facebook for B2B payments,” said Orlando Magic Vice President of Finance Jeff Bissey in a statement.

B2B 50

B2B Remittance Data Payments Cash Management 50

PYMNTS

NOVEMBER 5, 2018

5) announced the launch of the Billtrust Business Payments Network (BPN), an open buyer/supplier payments platform that Billtrust CEO Flint Lane said will do what other B2B payment platforms have struggled to do: put paper checks on the path to extinction by streamlining and digitizing payments between businesses — and doing it at scale.

B2B 78

B2B Checks Payments Push-to-Card 78

PYMNTS

DECEMBER 29, 2020

Demystifying the matter is PYMNTS December 2020 Digitizing B2B Payments Tracker® done in collaboration with Deluxe , examining the hurdles now set out before healthcare providers. There is a fundamental need to link complex remittance data — explanation of payment — with the payments being made.”. Treating A Payments Toothache.

Digital Payments 84

Digital Payments Remittance Data Payments B2B 84

PYMNTS

FEBRUARY 19, 2019

the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. When NACHA first released its Same Day ACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments.

Faster Payments 75

Faster Payments Accounts Remittance Data Same Day ACH 75

PYMNTS

OCTOBER 23, 2017

TransCard CEO Greg Bloh knows that paper checks are a sticky challenge in B2B payments. It presents major opportunities in the B2B payments space, the executive of the corporate payments company added. That doesn’t mean B2B payers and payees should be complacent in sticking with the paper check, though.

B2B 45

B2B Payee ACH Payer 45

PYMNTS

NOVEMBER 27, 2019

It’s about understanding clients’ needs and problems, and helping to solve for that,” noted Halpin.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

NOVEMBER 16, 2020

As part of the payment process, the Transcard A2A solution allows businesses to “exchange the rich remittance data that a supplier needs for touch-free cash application, and reconcile settled transactions,” the payments automation company said. 16) press release issued by the Chattanooga, Tenn.-based based company.

Accounts 69

Accounts Payment Solutions Payment APIs and Integration Remittance Data 69

PYMNTS

FEBRUARY 26, 2020

More and more, B2B payment solutions are focusing less on single end-points of friction, and more on the overall picture of how money (and data) moves from one business to another. Fintainium Eyes Remittance For AR, AP. There’s nothing more valuable than remittance data. This is what businesses are asking for.

Accounts 72

Accounts Innovation Remittance Data Debit Card 72

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. The concept of a B2B payments directory isn’t new. However, in its “ Strategies for Improving the U.S.

B2B 40

B2B Federal Reserve Payee FedWire 40

PYMNTS

JUNE 29, 2018

B2B payments in the insurance industry suffer from many of the same challenges that other markets do: namely, check-based payments. But the market’s B2B payments practices present a tougher sell to make the switch from faster, electronic payment technologies, Peters told PYMNTS.

Faster Payments 40

Faster Payments Same Day ACH ACH Remittance Data 40

PYMNTS

NOVEMBER 5, 2018

According to the firm, B2B transactions were a key driver of ACH transaction growth in the third quarter of the year, leading NACHA Chief Operating Officer Jane Larimer to describe the ACH Network as “thriving.”. ACH may be the most popular ePayments rail option for B2B transactions in the U.S. today, but it’s not the only one.

Small Business 68

Small Business Same Day ACH Wire Transfer NACHA 68

PYMNTS

SEPTEMBER 7, 2020

In B2B payments, the commercial card has experienced a dramatic spike in adoption this year as organizations accelerated their digital transformations and, unable to physically enter the office, began to rely on electronic payments to conduct their business. The year 2020 began inconspicuously — but in a few short weeks, everything changed.

Commercial Card 98

Commercial Card Push-to-Card Small Business Card Issuer 98

PYMNTS

OCTOBER 31, 2019

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. Although the traditional lockbox can support access to this information, the fact that B2B payments are digitizing cannot be ignored. Take the lockbox, for example.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

SEPTEMBER 12, 2019

The paper check continues to be a prominent — and, in many cases, dominant — payment method in B2B transactions. PYMNTS research released last October in the “ Bringing Corporate Payments Out of the Dark Ages ” webinar revealed 64 percent of B2B payments are made with checks, despite consumer payments’ acceleration toward electronic tools.

AFP 51

AFP Checks ISO 20022 Cross-Border 51

PYMNTS

JULY 1, 2019

According to the new Smarter Payments Tracker , cross-border business-to-business (B2B) payments generated approximately $125 billion in revenue last year, a figure that continues to grow as the economy becomes more global.

Cross-Border Payments 84

Cross-Border Payments Cross-Border Blockchain SWIFT 84

PYMNTS

DECEMBER 3, 2020

The B2B payments space has been slow to adopt digital innovations in the past, and cross-border payments are no exception. Some studies suggest that 68 percent of cross-border B2B payments were made via wire transfers as recently as 2019. . Factors Driving Cross-Border Innovation . IntegrationBoosts Speed, Transparency And Security .

Cross-Border 52

Cross-Border Cross-Border Payments Wire Transfer Wires 52

PYMNTS

OCTOBER 2, 2019

As payments giants like Visa and Mastercard shift the innovation spotlight onto B2B transactions, developers of new accounts payable solutions are ushering in a growing trend: designing payment tools not just for the payer, but for the B2B supplier as well. Vroozi Pay Eyes Vendor Relations. Boost Payment Solutions Expands Globally.

Commercial Card 52

Commercial Card Innovation Payer B2B 52

PYMNTS

OCTOBER 1, 2019

Payments company Discover has entered a new partnership with source-to-pay solution provider JAGGAER to power B2B payments on the JAGGAER ONE procurement platform. The vendors, meanwhile, can have access to more detailed remittance data. In a press release issued Tuesday (Oct.

Commercial Card 51

Commercial Card Remittance Data Payments Reconciliation 51

PYMNTS

FEBRUARY 4, 2020

Once reserved for only the largest and most sophisticated firms, automated enterprise resource planning (ERP) and accounting platforms are now accessible for even the smallest of businesses, and data from those systems is the new currency of operational efficiency. Data’s Favorite Payment Rails.

Commercial Card 61

Commercial Card Lockbox Reconciliation ACH 61

PYMNTS

NOVEMBER 13, 2019

The strategic collaboration aims to improve cash flow and automate the exchange of remittance data while improving operational efficiency for both buyers and suppliers. Morgan commercial card clients and their suppliers can now benefit from automated payment processing and remittance posting,” said J.P. It will serve J.P.

Automation 43

Automation Commercial Card Enrollments FinTech 43

PYMNTS

OCTOBER 26, 2018

In an earlier interview with PYMNTS, Ben Peters, chief operating officer at insurance payments solutions company VPay, said a lack of remittance data may be partially to blame for ACH’s lack of ubiquity. In corporate banking and payments, the challenges that arise can be vast. But even as regulators like the Fed in the U.S.,

Remittance Data 60

Remittance Data ACH Request for Information RTP 60

PYMNTS

NOVEMBER 13, 2019

The strategic collaboration aims to improve cash flow and automate the exchange of remittance data while improving operational efficiency for both buyers and suppliers. Morgan commercial card clients and their suppliers can now benefit from automated payment processing and remittance posting,” said J.P. It will serve J.P.

Automation 43

Automation Commercial Card Enrollments FinTech 43

PYMNTS

MARCH 3, 2020

In a B2B relationship , establishing a new customer comes with a trove of complexities, from underwriting the client for credit, to establishing payment terms, to mitigating fraud risk. “You A Trusted Relationship. The Outsourcing Decision.

Accounts 74

Accounts Reconciliation Underwriting Credit Limit 74

PYMNTS

AUGUST 3, 2017

But cards are a rarity in B2B payments, and even rarer in accounts payable (AP) compared with other segments of the space like corporate travel. The model by which card payments are made, too, as push payments, doesn’t align well with B2B payments, either, BC Krishna explained. B2B payments today, in the U.S.,

Cash Management 43

Cash Management Commercial Card Push-to-Card B2B 43

PYMNTS

MARCH 28, 2017

Adoption of virtual cards in B2B payments is gradually increasing as companies take to the greater security and convenience of the tool. Today (March 28), B2B payments and invoicing platform Viewpost announced a partnership with Visa to allow businesses using the portal to pay suppliers with virtual cards.

Push-to-Card 51

Push-to-Card B2B Payments Commercial Card 51

PYMNTS

DECEMBER 5, 2019

The creation of credit card infrastructure 60 years ago initially had the consumer in mind, but recent history has shown that investments in card technology are capturing a greater share of the B2B payments market. Tackling Supplier Misconceptions.

Faster Payments 53

Faster Payments Commercial Card ACH Payments 53

PYMNTS

JUNE 13, 2019

Popular use cases that have emerged in recent years include blockchain’s potential to securely transmit remittance data along with payments in cross-border B2B transactions, enable companies to use smart contracts to enforce business agreements in B2B trade and mitigate the risk of fraud in supply chain transactions.

Blockchain 73

Blockchain Distributed Ledger Technology (DLT) Participant Use Case 73

PYMNTS

JULY 27, 2017

The report found that while paper check remains the most common B2B payment rail, according to AR professionals, by the end of the decade it’s slated to take up 45 percent of payments received in the AR department, with paper checks sliding to take up 34 percent. Plus, the VP added, ACH payments don’t always come with remittance data. “A

ACH 40

ACH Payments Checks B2B 40

EBizCharge

JULY 16, 2024

Cash concentration or disbursement (CCD): CCD entries are primarily used for business-to-business (B2B) payments. Corporate trade exchange (CTX): CTX entries are used for B2B payments, including extensive addenda records with detailed payment information such as invoice numbers, payment amounts, and other remittance data.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

PYMNTS

JANUARY 24, 2018

Third, the government is focusing on data enrichment and the ability to provide remittance data connected to the transaction; and finally, Australia is deploying a PayID system that enables recipients to use their phone number, Australian Business Number or email address to facilitate transfers.

Real Time Payments 49

Real Time Payments Faster Payments Cross-Border Payments Remittance Data 49

PYMNTS

JANUARY 25, 2019

Companies must not only integrate solutions that can connect to their customers’ operations (for instance, a B2B supplier could gain a competitive edge if they were able to automatically provide a customer with remittance data following payment), but work to ensure financial technologies are interconnected.

API 69

API Payment APIs and Integration Finance Facilitators 69

PYMNTS

JUNE 22, 2016

In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But a new report from Corcentric , written by the Institute of Finance & Management (IOFM), details the hurdles on the other side of the payment.

Automation 42

Automation Accounts Payments Disputes 42