PYMNTS

JUNE 22, 2016

In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But as Corcentric and IOFM revealed, the accounts receivable department may not have total control over its ability to get automated.

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PYMNTS

NOVEMBER 16, 2020

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.

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Accounts Payment Solutions Payment APIs and Integration Remittance Data 69

PYMNTS

FEBRUARY 26, 2020

“Enabling seamless communications, integrations and interoperability” means facilitating the flow of transaction data between parties, he said. There’s nothing more valuable than remittance data. They need the remittance data, whether it’s incoming or outgoing, to be able to sync up with their general ledger system.”.

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Accounts Innovation Remittance Data Debit Card 72

PYMNTS

DECEMBER 24, 2020

Dental practices must also ensure that their AR systems are modern enough to quickly process the accompanying digital remittances data or they could be unable to fully realize the advantages of these electronic transfers. It stated that this held many practices back from automating the process.

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B2B Electronic Funds Transfer (EFT) Payments Payer 102

PYMNTS

JANUARY 21, 2019

That might mean discovering a segment of vendors that are ripe for virtual card payments or integrated remittance data. Revenue generated from virtual card rebates, for example, can finance investments in automated AP and AR technologies. A Holistic View.

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B2B Remittance Data Payments Process 75

PYMNTS

OCTOBER 26, 2018

In an earlier interview with PYMNTS, Ben Peters, chief operating officer at insurance payments solutions company VPay, said a lack of remittance data may be partially to blame for ACH’s lack of ubiquity. In corporate banking and payments, the challenges that arise can be vast. But even as regulators like the Fed in the U.S.,

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Remittance Data ACH Request for Information RTP 60

PYMNTS

MARCH 3, 2020

Unfortunately, said Spear, many businesses fail to standardize and automate many of these processes. To underwrite a new customer, manually aggregating and evaluating customer data is often a subjective and resource-heavy process, and it is an area in which AR makes the biggest mistakes. “You The Outsourcing Decision.

Accounts 74

Accounts Underwriting Reconciliation Credit Limit 74

PYMNTS

SEPTEMBER 7, 2020

Mastercard in May launched its Track Business Payment Service , again with a focus on working capital optimization for both buyers and suppliers and added value through enhanced remittance data collection and automation. Summer Trips: Canceled.

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Commercial Card Push-to-Card Small Business Card Issuer 98

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.

Commercial Card 61

Commercial Card Lockbox Reconciliation ACH 61

PYMNTS

SEPTEMBER 12, 2019

Further, the report noted, just because businesses appear to be shifting away from paper checks doesn’t mean they’re fully embracing automated, digital payment tools. That said, it is encouraging that check usage is in decline, as electronic payments methods are much more efficient, and have a much lower risk for fraud.”.

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AFP Checks ISO 20022 Cross-Border 51

PYMNTS

DECEMBER 20, 2018

Yet in reality, he said, remittance data – or lack thereof – can be just as big of a factor in suppliers’ decisions not to accept cards. It’s an industry that has evolved on yet another misconception, he said: that suppliers refuse to accept cards because of the added cost of interchange fees.

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B2B Push-to-Card Payments Checks 65

PYMNTS

OCTOBER 2, 2019

While the announcement almost exclusively focuses on the integration’s benefits for corporate payers, the companies noted that their collaboration enables vendors to receive “more detailed remittance data.”. Together, the companies enable automated invoice payments from within the Vroozi platform once invoices have been approved.

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Commercial Card Innovation Payer B2B 52

PYMNTS

DECEMBER 3, 2020

Once these systems are integrated, they can be used to automate incoming and outgoing cross-border payments, eliminating the need for human intervention for initiating international fund transfers. ERP integrations, on the other hand, can give businesses real-time windows into cross-border payments remittance data.

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PYMNTS

MARCH 16, 2016

The main drivers behind CPA’s ISO 20022 initiative are to provide the Canadian financial community with enriched, robust remittance data, to enhance domestic and cross-border interoperability and to increase efficiency,” said Mark Brule, director of the CPA’s payments innovations operations.

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ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

JULY 21, 2017

“A lot of suppliers say they like the feel of the paper in their hand, they like to get the physical remittance data attached to that check — even though you can still get that data in other ways, including with ACH,” Martin explained. “But a lot of suppliers are what we consider old school.

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Checks ACH Payments Same Day ACH 47

EBizCharge

JUNE 19, 2024

Cons Delayed receipt and processing: Delays in receiving and processing remittance advice can slow down the AR process, potentially impacting cash flow and financial planning.

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Payer Reconciliation Correspondent Wire Transfer 52

PYMNTS

APRIL 1, 2016

The parameters of a truly integrated system would dictate it be able to work across existing banking and merchant processor relationships and support the full transaction lifecycle – starting with payment acceptance and ending with posting remittance data into any back office system.

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Remote Deposit Capture Lockbox Remittance Data Compliance 40

EBizCharge

JULY 16, 2024

Navigating electronic payments requires a thorough understanding of compliance standards set forth by governing bodies such as the National Automated Clearing House Association (NACHA) network. What is NACHA? Each SEC code has its defined usage, ensuring the correct handling of electronic transactions and aiding in fraud detection.

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PYMNTS

MAY 7, 2020

Remittance data is one of the strongest factors driving suppliers’ continued preference for checks, Reed explained, so any technology that aims to digitize payment cannot afford to ignore its importance. But addressing payee needs is just as critical to easing the digital migration.

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Checks B2B Payment APIs and Integration Remote Deposit Capture 67