PYMNTS

OCTOBER 31, 2019

In the flurry of payments innovation, it can be difficult to remember that legacy tools remain commonplace, especially in corporate payments. Take the lockbox, for example. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

MARCH 18, 2020

In a recent conversation with PYMNTS, Bectran Business Development & Implementation Manager Dominic Biegel said it is certainly a possibility that the continued impact of the coronavirus pandemic could add pressure on businesses to migrate away from paper invoices, or shift their own customers toward electronic payments.

Lockbox 80

Lockbox Reconciliation Checks Automation 80

PYMNTS

SEPTEMBER 18, 2018

When it comes to treasury market offerings, banks have historically started wholesale and retail lockbox businesses. But, as payment types and payment channels have grown to become more electronic, the amount of lockbox payments is declining rapidly.

Lockbox 68

Lockbox FinTech Payer ACH 68

PYMNTS

MARCH 30, 2020

Businesses then go through a fulfillment/shipping stage, and they invoice a client as well as collect payment. Many companies rely on a bank/service provider to handle outsourced lockbox processing. A worker from the company might have to go to the post office, pick up the mail and process the payments within the company.

Lockbox 60

Lockbox FinTech Payer Push-to-Card 60

PYMNTS

OCTOBER 29, 2020

But as Barry McCarthy , president and CEO of Deluxe , said in an interview with Karen Webster as part of the ongoing series on B2B payments, it’s going to take a while. After all, $20 trillion in paper payments is a lot to get rid of overnight. The digital payments are right now akin to “nibbles around the edges,” noted McCarthy.

Checks 78

Checks B2B Payments C2B 78

PYMNTS

JANUARY 13, 2021

Shields noted that accurately predicting anticipated invoice payment dates can have ripple effects throughout an organization. “No Within the B2B space, especially, technology can improve payments processes that are time-consuming and error-prone. Yet the reluctance to embrace new payment technologies is palpable, said Shields.

Process 94

Process AI Accounts Lockbox 94

PYMNTS

AUGUST 7, 2018

Formerly known as the Remittance Coalition, the Federal Reserve Bank of Minneapolis’ Business Payments Coalition is relying on corporate collaboration to promote the adoption of electronic B2B payments. Providing payers with this information could make it easier for them to quickly and efficiently pay their suppliers.

B2B 40

B2B Federal Reserve Payee Payer 40