PYMNTS

APRIL 13, 2020

. “Payments fraud and business email compromise, in particular, have been thorns in financial professionals’ sides for years, but this recent surge is especially concerning,” said Jim Kaitz , president and CEO of AFP, in a statement. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

PYMNTS

SEPTEMBER 26, 2016

Using FIS-run PayNetExchange to process ACH, checks and virtual cards and using Comdata to issue Mastercard commercial cards, Corcentric pulls in payment capabilities across a range of rails to support the last mile of the B2B transaction. The data makes that glaringly clear. There’s a lot of friction between suppliers and customers.”

B2B 65

B2B Same Day ACH ACH Commercial Card 65

PYMNTS

APRIL 12, 2019

ACH in the Crosshairs, Too. The Association for Financial Professionals ( AFP ) found that although automated clearing house transactions are generally regarded by CFO.com to be relatively “safer” than other types of transactions — say, paper checks — fraud involving ACH is on the rise.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

JUNE 20, 2016

Reports on Friday (June 17) by the Association for Financial Professionals (AFP) said the Fed recently provided an update on its progress to encourage ISO 20022 adoption. ” One of the biggest hurdles in efforts to promote the adoption of ISO 20022 is NACHA, which has yet to decide whether it will implement ISO 20022 for ACH payments.

ISO 20022 40

ISO 20022 ISOs Fed AFP 40

Evolve Payment

FEBRUARY 15, 2024

An industry survey by the Association for Financial Professionals (AFP) found that check usage for business-to-business (B2B) payments declined to an all-time low of 33% in 2022. Over half of all AFP survey respondents considered speed the most important factor when choosing a payment method.

B2B 81

B2B Checks AFP FinTech 81

PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. But there are other ways the AFP found businesses are exposed to payments fraud, most notably through the BEC scam.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

NOVEMBER 1, 2018

businesses pay their suppliers via check, according to Association for Financial Professionals (AFP) data. Vendors anticipate ACH to eventually surpass paper check in terms of received payments volume, with B2B FinTech largely focusing on the friction associated with paper checks to innovate and offer companies better solutions.

Checks 53

Checks Accounts AFP B2B 53

PYMNTS

JANUARY 23, 2018

Separate data from the Association for Financial Professionals (AFP) found use of the paper check increased in 2016. It’s also true that B2B payments players anticipate the paper check to eventually fall to second place, with corporates instead turning to ACH to pay suppliers. The expansion of ACH across the U.S.,

Remote Deposit Capture 43

Remote Deposit Capture Checks Same Day ACH ACH 43

PYMNTS

MARCH 2, 2016

Reports by TechCrunch cite a cost of between $7 and $16 for businesses to send a check, according to research in the AFP Payment Cost Benchmarking Report by Aberdeen Group and Bank of America. Recipients can then deposit that check into their bank account online, or they can print it out.

Checks 41

Checks AFP Venmo B2B 41

PYMNTS

SEPTEMBER 8, 2016

Same Day ACH is on the cusp of entering the market, blockchain startups are making their visions a reality with bank partners and the financial services industry as a whole, it seems, is ready to make payments faster and more digital. But in B2B payments, are corporates ready to participate in this new ecosystem?

Same Day ACH 40

Same Day ACH ACH Payments AFP 40

PYMNTS

JUNE 15, 2018

“When you’re a B2B seller, you want to combine the traditional way of being paid — which is ACH for the U.S., But bank transfers through rails like ACH can complicate reconciliation on the supplier-side, said Bourbier, particularly due to its requirement for manual data entry on the buyer-side.

B2C 40

B2C B2B Reconciliation Payment APIs and Integration 40

PYMNTS

DECEMBER 12, 2017

The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. About 44 percent of payments received are in the form of a paper check too, the report noted.

Accounts 44

Accounts Wire Transfer Wire Wires 44

PYMNTS

MARCH 5, 2018

More recently, the Association for Financial Professionals’ (AFP) 2017 Risk Survey found nearly half of businesses say their exposure to uncertainty is higher than it was three years ago, and 51 percent say forecasting risks will be more difficult three years from now than it is today. In the U.S.,

Risk 42

Risk Cross-Border Non-Bank B2B 42

PYMNTS

JANUARY 5, 2017

The research, also published by the AFP for its 2016 Electronic Payments Survey , found a 1 percent increase in the use of paper checks for B2B payments compared to levels seen in 2013. Some financial service providers have reacted to the seeming inability for corporates to let go of paper by giving into demands for check solutions.

Checks 40

Checks B2B AFP Same Day ACH 40

PYMNTS

MARCH 24, 2017

Their integration comes at a time when the world of FinTech is pleading for B2B payments to ditch paper (that includes checks) and get on board with, at the very least, cards and ACH. For one, many SMEs have still not been onboarded to electronic payment rails like ACH. In fact, businesses like to pay with them.”.

Checks 40

Checks FinTech AFP B2B 40