PYMNTS

OCTOBER 22, 2020

Billtrust CEO and Founder Flint Lane highlighted three shifts in particular that are igniting major change in the industry: first, the accelerated digitization of accounts receivable (AR) and accounts payable (AP). But further education is needed, said Lane. Going Public. billion valuation.

B2B 89

B2B Lockbox Remittance Data Payments 89

PYMNTS

OCTOBER 2, 2019

Commercial payments, for example, have long relied on inefficient practices — like paper stubs that accompany paper checks, or lists of invoices paid and payments allocated to each invoice. Despite that, there is a better option, as roughly 40 percent of B2B payments are still done by paper checks.

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

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

FEBRUARY 4, 2020

Once reserved for only the largest and most sophisticated firms, automated enterprise resource planning (ERP) and accounting platforms are now accessible for even the smallest of businesses, and data from those systems is the new currency of operational efficiency. According to Dean M. A Reconciliation Headache. Data’s Favorite Payment Rails.

Commercial Card 61

Commercial Card Lockbox Reconciliation ACH 61

Trade Credit & Liquidity Management

JUNE 16, 2025

A properly managed Accounts Receivables (AR) portfolio is essential to maintain the liquidity your company needs to sustain its business and grow. Personalizing the email with the customer's name, specific account details, or any relevant past interactions shows attention to detail and may improve responsiveness. Check the format.

Lockbox 52

Lockbox Addressing Checks Liquidity Management 52

PYMNTS

DECEMBER 27, 2018

For receivables, Berdan noted that larger banks have done well with lockboxes as have smaller banks have with remote deposit capture (RDC). Typically, this technology comes in the form of a scanner at the location of a business, where checks get mailed on a daily basis.

Remote Deposit Capture 63

Remote Deposit Capture RDC Lockbox ACH 63

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 22, 2021

Like so many other organizations, B2B payments strategies had to be adjusted with personnel who were unable to physically work in an office space to send and receive paper checks. In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies.

Lockbox 74

Lockbox B2B Checks Volume 74

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. Invoiced Tackles The Friction of Check. ” APIs Connect Corporates To Payment Rails Directly.

Innovation 73

Innovation Global Payments Cross-Border ACH 73

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.

Commercial Card 82

Commercial Card Push-to-Card Lockbox Wires 82

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.”

B2C 46

B2C Lockbox ACH IRS 46

PYMNTS

FEBRUARY 2, 2021

Apollo Bank Adopts CheckAlt Lockbox Technology. The bank recently announced a partnership with CheckAlt to adopt its lockbox technology, allowing corporates to automatically accept, process and reconcile check payments. PNC Acquires Tempus Technologies. The company, which secured the investment from SBI Investment Co.

Lockbox 57

Lockbox FinTech Treasury Management Payment APIs and Integration 57

PYMNTS

APRIL 16, 2020

However, Tipalti Co-founder and CEO Chen Amit said he’s noticed more businesses taking the leap into accounts payable (AP) automation to mitigate the friction that comes with a remote workforce and cash flow pressures. The firms that still rely on paper checks have been most exposed to market disruption.

Finance 75

Finance Automation Lockbox Checks 75

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.

Online and Mobile Banking 52

Online and Mobile Banking Product Cash Management Treasury 52

PYMNTS

JULY 22, 2019

For all their drawbacks, why do paper checks persist in accounts payable? 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.

B2B 57

B2B Reconciliation Checks Lockbox 57

PYMNTS

DECEMBER 10, 2019

In 2019, 42 percent of B2B invoices were paid by paper check. By integrating with customer relationship management (CRM) and accounts receivable (AR) systems, the companies get a deeper, more revealing view of payments data and status while a good deal of friction is removed from payments. Unlocking the Lockbox. In America’s $2.4

Payment APIs and Integration 52

Payment APIs and Integration CRM Lockbox Automation 52

PYMNTS

FEBRUARY 22, 2017

Horicon Bank and Financial Transmission Network, better known as FTNI, are partnering up to help streamline the accounts receivable process for corporates. The companies revealed Tuesday (Feb. The AR solution also supports payment acceptance across channels, including online, mobile, in-person and others.

Remote Deposit Capture 40

Remote Deposit Capture Online and Mobile Banking Automation Lockbox 40

Stax

MAY 2, 2024

Direct ACH (Automated Clearing House) withholding – The lender deducts fixed amounts from your business checking account based on an estimated monthly revenue. This works similarly to the automatic deduction method, just that money goes through a third account. For example, let’s assume you receive an MCA of $75,000.

Credit Cards 88

Credit Cards Small Business Finance Accounts 88

PYMNTS

NOVEMBER 15, 2019

Traditionally, the cost and administrative burden of card acceptance has kept the tool from gaining traction in accounts payable. “While you can send unlimited remittance detail with a check, it’s going to be on paper. “While you can send unlimited remittance detail with a check, it’s going to be on paper.

B2B 53

B2B Commercial Card Payments ACH 53

PYMNTS

DECEMBER 5, 2017

That’s why checks are declining, and why new payment methods are emerging all the time — often faster than legacy infrastructure can keep up, and even giving the most agile organizations a run for their money. In the event of a natural disaster or emergency, people should not have to wait for a check to arrive by mail, Shapiro said.

Consumer 56

Consumer Same Day ACH C2B B2C 56

PYMNTS

JUNE 24, 2016

Jordan believes that the same can be said for the pivot to digital taking place in the accounts receivable space today. 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.

Lockbox 43

Lockbox Push-to-Card Automation Credit Cards 43

PYMNTS

AUGUST 7, 2018

businesses, more often than not, pay their suppliers via paper check still draws quizzical reactions from professionals abroad. understand that paper checks are slow, expensive and risky, and yet they endure. The revelation that U.S. The corporate and financial services communities in the U.S.

B2B 40

B2B Federal Reserve Payee FedWire 40

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