PYMNTS

OCTOBER 26, 2018

For corporates, it’s the remittance detail of a transaction that supports settlement, reconciliation and enhanced data analytics for CFOs and treasurers to gain better insight and visibility into corporate finances. In corporate banking and payments, the challenges that arise can be vast.

Remittance Data

PYMNTS

JANUARY 25, 2019

While some solution providers are building integrations with other third-party platforms for their corporate clients, Cleo analysis has suggested that businesses largely feel the weight of facilitating these integrations themselves. The API Opportunity. “There is a huge collection of point-to-point integrations.”

API

PYMNTS

JANUARY 24, 2018

Third, the government is focusing on data enrichment and the ability to provide remittance data connected to the transaction; and finally, Australia is deploying a PayID system that enables recipients to use their phone number, Australian Business Number or email address to facilitate transfers.

Real Time Payments

PYMNTS

SEPTEMBER 7, 2020

Similarly, Comdata , a FLEETCOR company, introduced Comdata QuickPay, an invoice financing solution for users of Comdata fleet cards, which also facilitated the receipt of funds same-day. Summer Trips: Canceled. As the year pushed forward, government initiatives to support small businesses eased the cash flow burden on these firms.

Commercial Card

PYMNTS

JULY 16, 2020

Working with financial technology providers that can facilitate straight-through processing means suppliers themselves won’t be faced with the friction of manually re-keying card details into their own systems, either. “We’re not talking about hundred-dollar dinner charges at a restaurant,” said Anderson.

ACH

PYMNTS

AUGUST 15, 2019

The messaging standard’s proponents assert that businesses can analyze this data to improve customer interactions and add functionalities, such as transmitting links to paystubs alongside payroll disbursements. More precise payment information could also facilitate quick, straight-through processing. .

ISO 20022

EBizCharge

JUNE 19, 2024

Remittance advice is sent to notify the payee of the details of a payment, ensuring the accurate allocation of funds to the correct invoices and facilitating efficient account reconciliation. They facilitate more straightforward accounting processes, allowing the AR team to match received payments with the correct invoices.

Payer

PYMNTS

MARCH 28, 2017

Facilitating banks’ ability to provide virtual cards to smaller business clients is one of the larger roadblocks hampering v-card penetration. Eliscu pointed to the rich remittance data that travels with a v-card transaction, along with the tokenization of a card number, that makes virtual cards as useful to a supplier as it is to a buyer.

Push-to-Card

PYMNTS

JUNE 22, 2016

“The root of these inefficiencies is that businesses rely on paper for most of their orders and invoicing, and they receive customer remittance data in inconvenient formats, such as paper, email or fax, that must be rekeyed for reconciliation,” IOFM explained.

Automation

EBizCharge

JULY 16, 2024

The National Automated Clearing House Association (NACHA) governs the operation of the Automated Clearing House (ACH) network , a centralized system financial institutions use to facilitate electronic payments and transactions across the U.S.

NACHA

PYMNTS

JULY 21, 2017

Suppliers appear to be working towards facilitating their customers’ payment habits, with 50 percent reporting they have focused on accepting cards in an effort to improve the timeliness of customer payments. Only 7 percent say they like to get paid via card. “But a lot of suppliers are what we consider old school.

Checks

PYMNTS

AUGUST 7, 2018

The other key distinction for the BDPA’s initiative is to include robust information to facilitate remittance for accounts receivable personnel. Data security is also why, though it’s is a viable technology for data management, blockchain may not yet be ready to actually facilitate movement of money. “In

B2B

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.

Checks