This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Paystand
FEBRUARY 6, 2024
For a long time, bank lockbox services have helped treasury and finance teams manage their receivables. These services help with processing checks and other payments sent by mail. But now, there are a number of options for lockbox services in the internet age.
75 
PYMNTS
OCTOBER 19, 2020
CheckAlt , which provides lockbox and treasury management services, is now working with Florida's Citizens Bank & Trust to provide the aforementioned services, a press release says. Previously, Citizens Bank & Trust processed lockbox payments in-house. Electronic payments still don't always have that down yet.
67 
Payments Source
MAY 27, 2020
The lines of white cooling trailers that silently announce the scale of the tragedy are what lockbox employees at JPMorgan Chase see on their way to work.
127 
PYMNTS
OCTOBER 31, 2019
In the flurry of payments innovation, it can be difficult to remember that legacy tools remain commonplace, especially in corporate payments. Take the lockbox, for example. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.
43 PYMNTS
MAY 10, 2016
Online banking and electronic payments have streamlined the depositing process for corporate treasurers, but somehow, a majority of their customers are still paying with physical checks. That’s where Wells Fargo says its lockbox network comes into the mix.
40 
PYMNTS
NOVEMBER 4, 2020
From concept to pilot to corporate payment game changer. Morgan ’s Onyx , told Karen Webster that peer-to-peer (P2P) private blockchain networks can help streamline information flows tied to cross-border payments and remove the complexities tied to legacy systems. Umar Farooq , CEO of J.P. Liink, J.P. Ready To Kill The Check?
131 
PYMNTS
MARCH 18, 2020
In a recent conversation with PYMNTS, Bectran Business Development & Implementation Manager Dominic Biegel said it is certainly a possibility that the continued impact of the coronavirus pandemic could add pressure on businesses to migrate away from paper invoices, or shift their own customers toward electronic payments.
80 
PYMNTS
OCTOBER 22, 2020
A perfect storm of market shifts catalyzed by the global pandemic has forever changed the B2B payments landscape. At the broader level, organizations began to fully understand the biggest pain points of their B2B payments workflows — and today, as Lane recently told PYMNTS' Karen Webster, they're also beginning to understand how to fix them.
89 
PYMNTS
OCTOBER 2, 2019
To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. That’s a staggering leap from the 14 live faster payment schemes that existed worldwide in 2014, when FIS first released Flavors of Fast.
81 
PYMNTS
OCTOBER 22, 2020
In this week's look at bank-FinTech collaboration, new partnerships aim to address some of the longest-standing points of friction in business finance, including late payments to small suppliers and the headache of manually managing check payment data. BCI And Temenos Target Corporate Banking.
79 
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.
68 
PYMNTS
MARCH 30, 2020
Businesses then go through a fulfillment/shipping stage, and they invoice a client as well as collect payment. Many companies rely on a bank/service provider to handle outsourced lockbox processing. A worker from the company might have to go to the post office, pick up the mail and process the payments within the company.
60 
PYMNTS
APRIL 30, 2020
This week’s examination of the latest in payments rails innovation finds financial service providers innovating on top of existing rails to address the friction of ACH, checks and other bank transfer infrastructure. One FinTech, meanwhile, throws blockchain into the mix of legacy rails. Western Union Expands Real-Time Capabilities.
PYMNTS
OCTOBER 29, 2020
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. After all, $20 trillion in paper payments is a lot to get rid of overnight. The digital payments are right now akin to “nibbles around the edges,” noted McCarthy.
78 
The Payments Association
SEPTEMBER 27, 2024
In 2022, the company received a patent for another piece of AI, their Secure Lockbox , which features pioneering homomorphic data encryption. It will exponentially increase our capacity to utilize and learn from data like never before,” says Kristjánsson. Lucinity has been at the forefront of AI technology since its inception.
PYMNTS
JANUARY 22, 2021
B2B payments in the healthcare industry are undoubtedly complex, thanks to the intricacies of coordination between healthcare providers, suppliers and insurance firms. On the back end, however, many workflows — payments included — remain stuck in the past. Prioritizing Data Connectivity.
74 PYMNTS
FEBRUARY 2, 2021
Apollo Bank Adopts CheckAlt Lockbox Technology. Miami-based Apollo Bank is turning to a third-party FinTech to strengthen its corporate payments and treasury management offering. Token Lands Funding For Open Payments Offering. PNC Acquires Tempus Technologies. As open banking continues to proliferate across Europe and the U.K.,
57 
PYMNTS
DECEMBER 27, 2018
It’s a time of great transformation for payments in the eyes of FinTechs: “The payment market is changing rapidly with the adoption of electronic payments and soon-to-be real time payments,” DadeSystems Chief Marketing Officer Tom Berdan told PYMNTS.com in an interview.
PYMNTS
JULY 5, 2019
Companies in the business-to-consumer (B2C) space have historically relied on lockbox processing through a bank – or a series of banks, depending on their size. With payments coming in by check, DadeSystems Chief Marketing Officer Tom Berdan told PYMNTS in an interview that “seemed to solve most of their needs.”
46 
PYMNTS
OCTOBER 23, 2020
Leavitt , founder and CEO of Boost Payment Systems , told PYMNTS in a recent Masterclass that businesses large and small that have traditionally relied on the manual processes associated with writing checks or wiring funds to pay their suppliers are increasingly using commercial credit cards for payment instead. The Sum Of The PARTS
PYMNTS
JANUARY 13, 2021
Shields noted that accurately predicting anticipated invoice payment dates can have ripple effects throughout an organization. “No Within the B2B space, especially, technology can improve payments processes that are time-consuming and error-prone. Yet the reluctance to embrace new payment technologies is palpable, said Shields.
94 
PYMNTS
DECEMBER 11, 2020
Plus, he noted, the manual nature of generating invoices means bills are often sent weeks or even months to a customer after services are actually delivered, causing payment delays. Combined, this experience can actually lead to customers delaying payment even further, leading to cash flow constraints for accounting firms.
89 
PYMNTS
FEBRUARY 4, 2020
As B2B payments migrate away from the paper check in their own digitization journey, a supplier’s opportunity to access valuable transaction insight grows. The big question for suppliers is, ‘When I receive my payment, how can I be sure that I also receive my data in a way I can actually use to run my enterprise?’” According to Dean M.
Fintech Finance
APRIL 26, 2024
Paystand , the global leader in blockchain-enabled B2B payments, today announced the acquisition of Teampay , an industry-leading spend management software. The transaction creates a B2B payments powerhouse whose continued goal is to revolutionize payments by expanding the largest, fastest, and most cost-efficient B2B payments network.
52 
PYMNTS
JULY 15, 2020
CheckAlt , which provides lockbox and treasury management services, has struck a partnership with credit union service organization (CUSO) Tru Treasury to help credit unions attract new members and boost services, a press release says. The partnership touts its ability to work in both paper and electronic services.
52 
PYMNTS
NOVEMBER 15, 2019
When the commercial card first came on the scene, executives thought of the payment tool in limited terms: a piece of plastic their employees could use to make one-off purchases at the office supply or hardware store, buy a coffee while on a business trip or take a client out to dinner. Leavitt recently told PYMNTS’ Karen Webster.
53 
PYMNTS
OCTOBER 25, 2019
While treasury management has always been a critical component of bank offerings, most treasury management solutions today are limited to lockbox processing. And the banks have done a good job standing up that solution to handle the check payments from those corporate customers. percent to $3.6 billion per NACHA. percent to $3.6
40 
PYMNTS
APRIL 16, 2020
Employee furloughs are an all-too-common reality, while expansion plans have been put on hold, and supplier payments are facing delays. Supply chain challenges that have forced businesses to cancel vendor orders or extend payment terms are sometimes unavoidable.
75 
PYMNTS
DECEMBER 5, 2017
Direct deposits, push payments, eWallets, same-day ACH transfers, PayPal, Zelle and myriad other platforms and tools are now second nature. But, with this progress comes friction in the form of a payments patchwork. The use cases for digital payments are also evolving. Supply and Demand.
56 
PYMNTS
APRIL 7, 2020
The program can be used for everything from intercompany transactions, accounts payable and receivable, travel and entertainment (T&E) reporting, bank clearing and lockbox to general ledger cash accounts. The Transaction Matching software goes hand-in-hand with OneStream’s existing Account Reconciliation.
PYMNTS
OCTOBER 19, 2018
For other food and beverage companies, however, automation is about more than just charging customers for payments. Yet, all too often, when mobile phones run out of juice, consumers have to camp out by a wall outlet or seal their phone away in a lockbox charging station. It’s also about the product’s creation process.
62 
PYMNTS
JANUARY 30, 2020
This week’s roundup of the latest open banking initiatives finds new use-cases in business payments, procurement, corporate cards and more. Bankin’ Steps Into Payments APIs. Mastercard Taps FinTech for Biz Card Boost. Mastercard wants to expand Europe’s commercial card adoption, and is turning to a FinTech partner to help. “Our
64 
PYMNTS
DECEMBER 10, 2019
trillion manufacturing sector, outmoded invoicing and poorly managed payments have created familiar problems of cost/time overruns, bookkeeping errors and the mayhem of inefficiency. In our most recent “ Innovating Order-to-Cash Playbook ” we size up the climate and terrain for manufacturers as payments enter the age of “instant.”.
PYMNTS
JANUARY 9, 2019
Continuing an acquisitive strategy that seeks to expand integrated payment capabilities, Paya said on Tuesday (Jan. Those calls last an average of three minutes, and two of those minutes are related to payments themselves. Build or buy — or how about buy, then build? million, as reported in the Dayton Daily News.
63 
PYMNTS
FEBRUARY 22, 2017
21) that FTNI will provide AR processing services for Horicon Bank’s corporate banking clients, which will have access to a single SaaS platform to accept payments across payment rails, including ACH, check, cards and cash. The companies revealed Tuesday (Feb.
Fintech Finance
NOVEMBER 14, 2024
The Bank expanded its suite of digital cash management solutions with the following new products and services in 2024: Digital Checks: Clients can now send check payments faster and more securely via email while reducing or eliminating costs associated with paper checks. to offer clients mobile virtual cards.
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. The Federal Reserve, however, is ramping up efforts to change that.
40 
PYMNTS
JUNE 24, 2016
On the back end, they also want to be able to make payments using the method that is most convenient to them, whether that be paper checks, ACH transactions or even using credit cards. Billtrust’s Payment Cycle Management is one such solution. B2B Payment Trends.
43 
PYMNTS
JULY 22, 2019
PYMNTS recently surveyed accounts payable (AP) executives’ satisfaction rates with their payment technologies for the latest Payables Friction Playbook and found something surprising. They open the door for fraud. For all their drawbacks, why do paper checks persist in accounts payable? Keeping the Supplier In Mind.
57 
PYMNTS
JANUARY 29, 2020
Offering solutions that promote workflow automation from sourcing through to payment, reconciliation and accounting is not usually part of an FI’s product roadmap. Who could be more trusted with securing data and ensuring the process integrity of strategic purchasing and payments? Unlocking Data to Unlock Value.
52 
Stax
MAY 2, 2024
Trust or lockbox account – The MCA lender opens a separate account for all your debit and credit card sales and takes a portion that goes toward repayment, before sending the rest to your business account. MCA repayment amounts are more flexible since they’re based on a percentage of credit card sales instead of a fixed payment amount.
88 
PYMNTS
APRIL 1, 2016
For banks, according to an e-book by payments processing firm FTNI, receivables management is a constant juggling act across corporate customers, and their own internal daily ebb and flow of cash flow. Those attributes mean that implementation gets easier and can be adapted to suit any combination of users or payment methodologies.
PYMNTS
MAY 24, 2016
We use our own cloud-based Payment Cycle Management solutions for print and electronic invoice distribution, electronic payment processing and cash application processing from our lockbox. We now use cloud-based hosted solutions for most of our finance functions, including ERP, budgeting, planning, procurement and AP workflow.
45
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content