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Fast-growing payments automation firm Transcard is rolling out an account-to-account (A2A) solution that it says will boost the speed and efficiency with which buyers and sellers are able to exchange money and data, while reducing risk as well. 16) press release issued by the Chattanooga, Tenn. based company.
In an earlier interview with PYMNTS, Ben Peters, chief operating officer at insurance paymentssolutions company VPay, said a lack of remittancedata may be partially to blame for ACH’s lack of ubiquity. In corporate banking and payments, the challenges that arise can be vast. ”
But the tool’s ability to accept data along with a payment (i.e., the ability to not only receive a check payment, but know what invoice that check is for), is a functionality with which many electronic paymentsolutions today continue to struggle.
PNC Treasury Management recently debuted a tool that allows corporate buyers to automatically choose a faster paymentsolution , including real-time payment (RTP), Same Day ACH or next-day ACH, to pay their suppliers by analyzing which payment method would be quickest and most cost-effective.
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