The Fintech Times

JANUARY 23, 2025

Briana Marbury , CEO at the Interledger Foundation , the nonprofit grantmaking foundation, explores how in 2025, this challenge will continue to be tackled with banks making new partnerships with paytechs. Sending cross-border payments, for example, often comes with heavy processing costs and conversion fees.

FinTech 64

FinTech Financial Literacy Cross-Border Online and Mobile Banking 64

Segpay

FEBRUARY 28, 2024

Key Takeaways √ Hidden charges in payment processing can dig into and erode your bottom line. Merchants can implement several best practices to avoid surprise processing costs. 5 minute read Hidden charges in payment processing can seriously impact any merchant’s bottom-line revenues.

Processors 52

Processors IRS Push-to-Card Non-Bank 52

Stax

MAY 7, 2024

With credit card transaction volume hitting over $9.5 billion in processing fees, which was a 16.7% This pricing model charges based on the rates of the interchange fees at that specific moment, plus a markup fee that goes to settle the processor’s processing costs. When was the last time you withdrew cash from an ATM?

Credit Cards 88

Credit Cards Process Processors Online and Mobile Banking 88

Fintech News

JANUARY 30, 2024

These systems, operating continuously, offer the promise of instantaneous transfers, a stark contrast to the slower traditional methods. As the adoption of tokenisation continues to grow for enhanced security, firms are also beginning to actively explore more practical DeFi applications. billion by 2033, with a CAGR of 12.2%.

Payments Trends 117

Payments Trends Digital Currency Cross-Border Payments Distributed Ledger Technology (DLT) 117

Payment Savvy

SEPTEMBER 22, 2021

High Transaction Volumes. If your business historically processes high monthly transactions volumes, most payment processors will take an in-depth look at your processing. High single ticket sales and overall high volume are both taken into consideration during this review. What are the processing costs ?

Risk 52

Risk Accounts Underwriting Processors 52

PYMNTS

SEPTEMBER 26, 2018

But even for businesses further along in their digitization efforts, firms must continually reassess their goals and processes, or else they risk stagnating their progress. Across businesses at all levels of AP enhancement, challenges remain.

Accounts 64

Accounts B2B Automation Treasury Management 64

PYMNTS

NOVEMBER 15, 2018

. “Organizations can literally save millions through a combination of efficiency gains, cost savings and cash-back returns that come with combining invoice automation, payment automation and dynamic discounting — along with direct supplier enablement,” continued Preston.

Accounts 63

Accounts Commercial Card Finance Automation 63

Stax

SEPTEMBER 24, 2024

It’s meant to incentivize customers to pay using cash and reduce the costs associated with accepting electronic payment methods. On the other hand, surcharging passes the processing cost to the customer. On the other hand, surcharging passes the processing cost to the customer.

Credit Cards 88

Credit Cards Electronic Fund Transfer Act (EFTA) Push-to-Card Debit Card 88

PYMNTS

SEPTEMBER 26, 2019

he said, merchants can collect in more than 30 countries worldwide, covering roughly 70 percent of global recurring payment volumes. Drilling down a bit, he said the United States represents a huge payments market, especially for ACH debit, which has seen an annual volume of more than 13 billion transactions.

ACH 51

ACH B2B Payments Checks 51

Tearsheet

MAY 29, 2024

Costs are going up across the board as inflation and high interest rates impact businesses, which Forrester research suggests will discourage consumer spending and decrease sales volume. During the same time period, Ansa’s technology drove down the company’s payment processing costs by 28%.

Microtransactions 75

Microtransactions Payments Push-to-Card Transactions 75

EBizCharge

MAY 2, 2024

When customers pay with their credit cards, surcharging applies an additional fee that covers the specific cost associated with that transaction type. The surcharge cannot exceed the payment processing cost or legal limits set by state laws. This might mean slightly higher prices, with the processing costs factored in.

Credit Cards 52

Credit Cards Process Processors Legal 52

National Merchants Association

AUGUST 10, 2022

Additionally, “high risk” is a category generally reserved for credit card processing where card-not-present transactions are the norm, like eCommerce websites. High-risk businesses typically face higher credit card processing costs because, often, what they sell is considered riskier than other goods and services in the eyes of banks.

Risk 52

Risk Process Accounts Credit Cards 52

National Merchants Association

AUGUST 10, 2022

Additionally, “high risk” is a category generally reserved for credit card processing where card-not-present transactions are the norm, like eCommerce websites. Learn more about the type of merchant account your business needs and how different credit card processing options work below.

Risk 52

Risk Process Accounts Credit Cards 52

National Merchants Association

AUGUST 10, 2022

Additionally, “ high risk ” is a category generally reserved for credit card processing where card-not-present transactions are the norm, like eCommerce websites. High-risk businesses typically face higher credit card processing costs because, often, what they sell is considered riskier than other goods and services in the eyes of banks.

Risk 52

Risk Process Accounts Credit Cards 52

Nanonets

OCTOBER 18, 2024

  This lack of intelligence in existing systems results in inefficiencies, making it harder for AP teams to keep up with high invoice volumes and maintain accuracy.   💡 42% of organizations still rely on outdated AP processes, and 47% continue to scan or mail physical invoices.

Payment APIs and Integration 52

Payment APIs and Integration Automation AI Multi-Currency 52

Nanonets

MARCH 30, 2023

AI has the ability to process repetitive tasks without the cognitive limitations of humans; in fact, AI can produce more accurate results as it continues to process and learn. As the volume, complexity, and speed of incoming data continue to increase, manual processing becomes increasingly inefficient and costly.

Process 52

Process Automation Compliance Volume 52

Nanonets

JUNE 27, 2023

Additionally, manual processing increases the risk of errors, leading to invoice discrepancies, payment disputes, and time-consuming reconciliation processes. By adopting automation technologies, businesses can reduce these costs significantly and achieve a more streamlined and cost-effective accounts payable function.

Process 52

Process Automation Electronic Funds Transfer (EFT) Volume 52

Clearly Payments

JULY 4, 2024

While they might seem small on a per-transaction basis, they add up quickly, especially for businesses with high transaction volumes. Why Industries Pay Different Interchange Fees Industries pay different interchange rates due to several key factors that influence the cost and risk associated with processing transactions.

Visa 40

Visa Payments Credit Cards Volume 40

EBizCharge

MAY 13, 2024

Higher labor costs: Manual collection processes require significant manpower to perform tasks such as data entry, invoice generation, payment processing, and collections management. Limited scalability: When a business grows, transaction volumes typically increase.

Automation 52

Automation Disputes Payments Process 52

Tearsheet

OCTOBER 2, 2024

Despite the availability of digital alternatives, approximately one-third of B2B transactions continue to use cash and checks. Respondents said that they continue to use checks mainly because it’s familiar (44.1%), they give control over the timing of payments (36.5%) and they were perceived to make record keeping easy (36.2%).

B2B 59

B2B Checks Payment APIs and Integration Push-to-Card 59

Nanonets

FEBRUARY 1, 2024

Dramatic Cost Reductions in Processing Let's start with the financial health of your department. AP Automation has been shown to slash processing costs by a staggering 70%. Day 7: Purchase & Go Live After successful testing, we'll propose a tailored, cost-effective pricing plan.

Automation 64

Automation Accounts Process Multi-Currency 64

PYMNTS

OCTOBER 29, 2020

This rapid expansion has created an unprecedented need for merchants to optimize their payment operations in a way that is cost-effective and has the potential to enhance user experience. The trouble for businesses is that with this increase in digital transaction volumes comes the need to better manage payments processing.

Process 43

Process Payment APIs and Integration API Payment Service Provider (PSP) 43

Basis Theory

OCTOBER 1, 2024

Failure to meet these standards could result in fines or bans as a merchant or service, rendering you unable to process payments or send payment data with the major networks. Nearly 20 years later, with more than 300 requirements and sub-requirements, PCI DSS continues evolving.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Seon

MAY 16, 2024

Despite the implementation of advanced security measures, the dynamic and complex nature of iGaming fraud demands continuous innovation in fraud detection and prevention strategies, safeguarding the interests of legitimate players and operators. Research shows up to 15% of online gaming’s gross revenue is lost to promo abuse and fraud.

Fraud Prevention 52

Fraud Prevention Accounts Verification Legal 52

Payment Savvy

JULY 12, 2024

My Payment Savvy (MPS) My Payment Savvy (MPS) is a robust payment processing solution that offers competitive rates and a range of features tailored to small businesses. While not entirely free, MPS provides affordable options, significantly reducing payment processing costs. Pros: Competitive rates and low transaction fees.

Debit Card 52

Debit Card Online and Mobile Banking Zelle Payments 52

EBizCharge

JUNE 26, 2024

This accounting approach includes various manufacturing costing methods tailored to production processes, such as activity-based, standard, and process costing. Manufacturing accounting is crucial to maintaining inventory valuation, aiding the production cost analysis, and facilitating informed decision-making.

Accounts 52

Accounts Product Best Practices Process 52

Nanonets

NOVEMBER 16, 2023

As businesses expand, the volume of transactions, the complexity of financial operations, and the need for strategic cash flow management intensify. AP Automation involves leveraging technology to streamline, optimize, and automate the processes associated with managing a company’s accounts payables.

Automation 52

Automation Process Accounts Checks 52

Segpay

MARCH 10, 2025

Real-Time Confirmation: Once authorized, the payment gateway finalizes the transaction, instantly updating the player and allowing them to continue gaming without delays. A smooth and reliable payment process is essential for enhancing the gaming experience , as delays or failed transactions can frustrate players and disrupt engagement.

Payment Gateways 40

Payment Gateways Gateways Payment Solutions Payment APIs and Integration 40

EBizCharge

MAY 14, 2024

By offering a more efficient and user-friendly billing process, businesses can enhance customer satisfaction and loyalty, fostering positive relationships with their clientele. The volume of invoices and payment processes. Consider the following: The complexity of your billing cycles. The variety of payment terms you offer.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

Nanonets

JULY 11, 2023

From logistics and supply chain management to trade financing and human resources, the sheer volume of manual work for managing document and other related data can be overwhelming and time-consuming. Accounts Receivable Similar to accounts payable, accounts receivable processes can be optimized with Nanonets' IDP solution.

Automation 40

Automation Process Compliance AI 40

Nanonets

FEBRUARY 26, 2024

Nanonets' accounting OCR solutions can significantly speed up document processing workflows. This is particularly beneficial when large volumes of documents, such as invoices or receipts, must be handled promptly. This seamless integration ensures a smooth workflow without major overhauls of existing processes.

Accounts 52

Accounts Payment APIs and Integration Automation Multi-Currency 52

Nanonets

MARCH 20, 2023

Automated accounts payable software can efficiently manage large volumes of financial transactions between a company and its suppliers, while also automating ancillary activities such as approvals and payments. According to Goldman Sachs , the use of accounts payable automation software also results in 33% reduction in processing costs.

Accounts 52

Accounts Payment APIs and Integration Multi-Currency Automation 52

EBizCharge

JUNE 7, 2024

As eCommerce continues to advance, Magento stands out by consistently evolving to meet the complex needs of retailers and brands, ensuring its continued competitiveness in the digital marketplace. Why do I need to set up credit card processing in Magento?

Payment Gateways 52

Payment Gateways Gateways Credit Cards Process 52

Nanonets

NOVEMBER 15, 2023

Let's say you process 10,000 invoices monthly at $10 each. Now consider this: roughly a third of businesses surveyed were able to reduce invoice processing costs even more: a whopping 50%. As your business grows, you may need to onboard more vendors, handle larger volumes of invoices, or comply with additional regulations.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Payment Savvy

JULY 3, 2024

Banks and payment processors can continuously monitor transactions and quickly identify and block potential fraud attempts, minimizing financial losses for both merchants and cardholders. Incidental fees: These may include charges for chargebacks, insufficient funds, or other occasional events that incur additional costs for the processor.

Debit Card 52

Debit Card Process PCI DSS Processors 52

Nanonets

APRIL 16, 2023

Introduction As we continue to move into a paperless society , business accounting is on a transformative journey. Source: esker The introduction of intelligent automation into the accounts payable process minimizes the risk of manual intervention, accelerates operations, and helps maintain compliance.

Automation 52

Automation AI Accounts Reconciliation 52

Nanonets

OCTOBER 1, 2024

This significant difference in processing time highlights the impact of efficient validation processes and exception handling. Poor exception management leads to backlogs, delayed payments, and increased processing costs. After a major acquisition, their invoice volume suddenly triples.

Best Practices 40

Best Practices Automation Multi-Currency Process 40