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Another, continued tailwind should come from the fact that the maximum paymentamounts, as allowed under the scheme, have been increased as of last year, and now stand at 100,000 euros, up from 15,000 euros previously, as banks fine-tuned their AML and anti-fraud systems.
Often, an organization will simply submit a check with their company name and paymentamount on the physical document. Though that data can be digitized via lockbox services, there is no obvious way to link that information to an outstanding invoice, especially if there is any discrepancy or dispute in the paymentamount.
Other SME-serving FinTech companies are offering the digital payments and cashmanagement solutions many traditional FIs consider too costly to offer small businesses. Bill.com is one of those firms that emerged to fill in gaps left by banks — in this instance, for small business B2B payment needs.
That local branch would post funds to Cornell’s CashManagement Office, which then had to be reviewed, eventually approved and notice was sent back to the Bursar’s office and finally posted to the student’s account – a process Baker said could take weeks. “It
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