PYMNTS

SEPTEMBER 26, 2019

Account holders who provide authorization do not necessarily know when payees will withdraw the promised funds and may not remember to keep enough money in their accounts to cover the costs. Pull payments require payees to provide sensitive financial details, such as bank account numbers, to recipients.

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

PYMNTS

JANUARY 12, 2021

They know addresses, Social Security numbers, names, earnings, dates of birth and more. And if you were to ask, the government would likely affirm that it’s offering citizens payment choice when it comes to disbursements: check or ACH. It’s not that the government lacks information about citizens.

Governance 90

Governance Government IRS Payer 90

PYMNTS

OCTOBER 23, 2017

There are well-documented instances of how much reliance organizations still have on checks, even though this has been something that has been trying to be addressed for 10 to 15 years,” he recently told PYMNTS. Whether it’s an employee or a supplier, payees each have different needs that corporates must keep in mind, Bloh said.

B2B 45

B2B Payee ACH Payer 45

PYMNTS

AUGUST 13, 2020

It also enabled payments to be tracked and issued via automated clearing house (ACH), wire disbursement or check. Utilizing AP tools can make operations more nimble, but fully updating processes also requires payees to accept new methods. We make thousands of payments … all over the world.”.

Payee 57

Payee ACH Checks Alternative Payment Methods 57

PYMNTS

JANUARY 21, 2020

“Offering payment methods that are convenient to the payee gives them the ability to interact with you in a time and method that is best for them,” he said. Rather, it’s the choice itself that encourages businesses to pay faster, whether it be through card, ACH or Apple Pay. Tackling a Late Payment.

Accounts 64

Accounts Payee Automation Payer 64

PYMNTS

SEPTEMBER 14, 2017

For example, Mugford explained that the app, and the rest of AscendantFX’s services, can support an array of payment rails based on payer and payee preference. Payers often prefer wire,” he said, “but we’re seeing now that ACH is the more preferred way of receiving funds, so you don’t get it with an incoming charge.”.

B2B 55

B2B Payment APIs and Integration Due Diligence Payer 55

PYMNTS

DECEMBER 11, 2018

The freelance and gig work economy continues to grow, creating wide-open opportunities for FinTechs and service providers addressing a range of new pain points for both the talent and the employer. PYMNTS data reveals that this growth could be even faster if one of the biggest challenges of freelancing were addressed: getting paid.

Payroll 71

Payroll Cross-Border Cross-Border Payments Direct Deposit 71

PYMNTS

DECEMBER 10, 2019

The convergence of accounts payable (AP) and accounts receivable (AR) continues as banks and FinTechs collaborate on new solutions that pull double-duty, tackling friction for both payers and payees. The tool also supports digital payments through AvidXchange’s ACH solution, AvidPay Direct, as well as other payment methods.

Payee 52

Payee Payer B2B Accounts 52

PYMNTS

JUNE 20, 2016

Payments will be made using only email addresses or mobile phone numbers, said the firm, with additional details as needed that would facilitate remittances. In terms of payments options, businesses can choose checks, ACH and other methods across a single electronic file, noted the firm.

Tax Refunds 40

Tax Refunds Payee Treasury Management Payments 40

PYMNTS

NOVEMBER 15, 2019

“If you think about a large insurance company or AP department,” Edwards said, “we have clients that are printing out a million checks a month because they have everything they need to use that form — a name, an address and amount. Replacing ACH payments, he said, is a slightly different situation. “I

Instant Payments 49

Instant Payments Innovation Payee Payments 49

Stax

MARCH 14, 2024

Choosing a B2B payment system crucial to addressing common challenges that B2B payment systems face as well as improving client experience. Most of these challenges can be addressed by choosing the right payment provider. ACH payments take up to three days to process and cost around 1% of the transaction with a $10 cap.

B2B 88

B2B Process B2C Credit Cards 88

PYMNTS

MARCH 6, 2018

While B2B payments companies are pressing businesses to ditch the paper check, the migration toward electronic payments has centered mainly on ACH. But Jeffery said that virtual cards offer a few key benefits over even ACH transactions. These are not always viable for businesses with a diverse set of payees.”.

ACH 46

ACH NACHA Commercial Card B2B 46

PYMNTS

MARCH 29, 2018

ACH payments are subject to NACHA rules and require you to store bank information for payees,” he said. Just as check fraud topped the list of threats against the enterprise, 70 percent of companies surveyed by IBM Security said they have also been targeted by a phishing attack, which often involves an ACH or wire transaction.

Checks 43

Checks B2B ACH Payments 43

PYMNTS

FEBRUARY 20, 2018

Same Day ACH became a reality in 2017 after the National Automated Clearing House Association (NACHA) introduced its faster payments infrastructure to the market. In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level. In the U.S.,

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

PYMNTS

AUGUST 7, 2018

“The intent of the organization is to help payers better identify [the] payee information they need in order to make electronic payments,” he said in an interview, adding that the directory aims to be “payment agnostic” and support payments made via a variety of rails, including FedWire, ACH, SWIFT, lockbox and, yes, paper check.

B2B 40

B2B Federal Reserve Payee Payer 40

PYMNTS

OCTOBER 22, 2019

Corporate financial services providers taking aim at accounts payable friction this week pulled double-duty with new tools that also addressed friction for clients’ suppliers. The solution supports invoice payments via wire, ACH, commercial card or supply chain financing, allowing a single file upload for all treasury payables.

Payer 40

Payer B2B Commercial Card Faster Payments 40

Nanonets

SEPTEMBER 21, 2023

This request includes data such as the payment amount, payee information, and payment due date. Transmission: The payment request is transmitted electronically to the payee's system via EDI. Receipt: Once the payment request is received by the payee's system, it is verified to ensure accuracy and completeness.

Payment Solutions 52

Payment Solutions Payee Payments Payer 52

PYMNTS

DECEMBER 7, 2016

For most of them, it really was quite a challenge and also a challenge for the suppliers or the payees that they needed to pay. checks, international wires and ACH for payments in the U.S. How large is the addressable market? How did these marketplaces do that before you came along? SG: Painfully! checks, a provider for U.K.

Payment APIs and Integration 76

Payment APIs and Integration Payments Wire Wires 76

PYMNTS

MARCH 2, 2016

Invoice Central, the B2B billing and payments portal owned by Billtrust, has a unique strategy to address payment discrepancies. Earlier this month, Invoice Central announced that it has now achieved Level 2 and Level 3 interchange qualification, which means that there is more information exchanged between payer and payee.

Commercial Card 40

Commercial Card ACH Credit Cards Credential 40

PYMNTS

JUNE 5, 2018

Working with PayPal, the company said, could ease friction for both payers and payees in the B2B payment process, encouraging firms to pay their vendors more quickly. “Otherwise, payees can be easily distracted by other tasks and put off paying quickly.”

B2B 46

B2B PayPal Payments Payee 46

PYMNTS

DECEMBER 26, 2019

The payment experience is a critical aspect of addressing both AR and AP needs, he continued, with businesses not only requiring transparency and convenience, but also choice. In other words, AR innovations have to keep in mind the businesses receiving those invoices and making payments on their AP sides of transactions as well.

Accounts 53

Accounts B2B End User Payer 53

EBizCharge

JULY 15, 2024

However, it also means that providers must manage a delay in receiving payments and be prepared to address potential overdue payments. Scheduled payments: Scheduled payments refer to predetermined and agreed-upon dates when payments for invoices are to be submitted by a payer to a payee.

Disputes 52

Disputes Payer Legal Service Provider 52

PYMNTS

OCTOBER 31, 2019

It’s great to get a check, or wire, or ACH, but if you don’t know what it’s to be applied to, you have a huge cash application and reconciliation challenge.”. It enables payment information to travel with the payment so that the payment can be properly applied to the appropriate invoice,” he said. “In

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

JULY 4, 2018

One potential solution under consideration is the “confirmation of payee” protocol, which aims to ensure the recipient of funds is who they claim to be. “[A Mechanisms like confirmation of payee are needed to ensure that funds are sent to the correct parties — and to protect consumers from creative fraudsters.

Faster Payments 43

Faster Payments Payee Payments Scams 43

FICO

NOVEMBER 30, 2022

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

PYMNTS

DECEMBER 18, 2017

In an interoperable system, Google needs an email address so it can disburse funds — and then alert the payee so they can chose how they want to receive them.”. In an integrated system, they have to talk to each other to make that transaction happen in the middle. No one has to have less, Parker notes, if the pie itself grows. “I

Interoperability 47

Interoperability Payments Payee Bitcoin 47

PYMNTS

DECEMBER 12, 2017

Despite the strain on cash flow, businesses continue to rely on checks and wire transfers, which not only take longer to complete, but also take longer for payers and payees to be able to identify if there is a problem with the transaction, and could contribute to invoices being paid past-due.

Accounts 44

Accounts Wire Transfer Wire Wires 44

PYMNTS

MARCH 2, 2020

To pay by check, one only needs to have a name and an address. Those connections eventually led to an opportunity to take over management of a payments software solution firm called ProCheck, which specialized in helping businesses manage check, ACH and virtual card payments.

Checks 71

Checks Wire Transfer B2B ACH 71