ACH Lockbox Process 
PYMNTS
OCTOBER 31, 2019
Take the lockbox, for example. It’s a service designed around the ubiquity of the paper check, and with checks still a popular payment tool in B2B transactions, lockbox services remain in high-demand. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.
PYMNTS
OCTOBER 22, 2020
The industry thinks, if we can just get this payment on ACH or card, the problem goes away," reflected Lane. With ACH , the biggest challenge often comes in the form of remittance data being emailed separately from the movement of funds. And one buyer-supplier relationship may benefit from the familiarity of ACH more than another.
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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. If they are using the bank lockbox, some of the information coming through that channel might not arrive until late in the day or the next day.
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). With electronic payments, a corporation might be left with a tedious reconciliation process. And banks, in turn, can handle all of their payments including ACH.
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.
PYMNTS
FEBRUARY 4, 2020
Too often, card transactions involve virtual card information and transaction requests sent via email, placing a significant burden on a supplier’s staff to manually input data into systems and manage the posting process. But very little, if any, thought is given to the downstream implications for the supplier. Data’s Favorite Payment Rails.
PYMNTS
OCTOBER 2, 2019
Despite moves toward ACH payments and card payments, Kresse reminded that the classic B2B transaction is still fraught with emails and PDFs, which often disconnect critical data from the payment. However, with real-time payment modalities, and through the messaging standard ISO 20022, data can be easily uploaded into firms’ billing systems.
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