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is a lack of remittancedata, he said. Payments data is often sent separately from the funds, so even if a company receives a payment same day or in real time, information about who sent that payment, and why, still comes on a delay. where he doesn’t see the same type of regulatory pressure on late payers that the U.K.
Some payers had to limit the operations of their mailrooms. Dental practices must also ensure that their AR systems are modern enough to quickly process the accompanying digital remittancesdata or they could be unable to fully realize the advantages of these electronic transfers.
Governments, financial institutions, businesses and consumers are all reaping the benefits the ACH Network provides,” Larimer said in a statement. million Same Day ACH payments were made during the quarter, a 192 percent year-over-year increase, though NACHA did not disclose what percentage of that volume was made by business payers.
Thielens said payments is a particularly interesting area, considering how much innovation has occurred in the last decade with payers (consumer and corporate alike), demanding greater choice and variety in how they make payments.
In particular, a heavy volume of both B2C payments (consumers paying premiums to insurance companies, as well as insurance companies sending claim payouts to individuals) and B2B payments (insurance companies paying service providers) pave the way to a complex mix of payment rails. . “We see really high adoption of virtual cards.”
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