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. What is the role of a lockbox today? Modernizing the Lockbox. What is its historical role?

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. Preserving Check Workflows.

Checks 67

Checks B2B Payment APIs and Integration Remote Deposit Capture 67

PYMNTS

MARCH 18, 2020

The trend presents a unique conundrum for organizations’ order-to-cash operations, especially when businesses’ own clients continue to pay via paper check : The check may be in the mail, but how can a business apply that cash if there is no one at the office to open it? Lockbox Data Headaches. ” asked Biegel.

Lockbox 80

Lockbox Reconciliation Checks Automation 80

PYMNTS

OCTOBER 29, 2020

Much innovation in B2B has been focused on getting rid of paper checks. At least for now, companies are not writing as many checks, but that’s not due to any wholesale shift to digital channels, according to McCarthy. Lower business volumes translate, naturally, into lower check volumes. What Happens In A Recession.

Checks 78

Checks B2B Payments C2B 78

PYMNTS

MARCH 30, 2020

When it comes to the cash cycle, customers place an order, and a credit check likely occurs. Many companies rely on a bank/service provider to handle outsourced lockbox processing. That could entail putting a scanner in the company’s office to remotely scan all the checks.

Lockbox 60

Lockbox FinTech Payer Push-to-Card 60

PYMNTS

SEPTEMBER 18, 2018

When it comes to treasury market offerings, banks have historically started wholesale and retail lockbox businesses. But, as payment types and payment channels have grown to become more electronic, the amount of lockbox payments is declining rapidly. Most commonly, those payments are sent by automated clearing house (ACH).

Lockbox 68

Lockbox FinTech Payer ACH 68

PYMNTS

JANUARY 13, 2021

The paper check, the paper invoice, slow accounts receivable (AR) processes and collecting on aging receivables can be difficult for even the most seasoned AR professionals. With virtual cards, he said, a portion of that interchange rate gets shared with the payer. The problems are analog. But digital-era help is on the way.

Process 94

Process AI Accounts Lockbox 94