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How Banks Can Benefit From Partnering With FinTechs

PYMNTS

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
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Billtrust CEO On Delivering The Perfect B2B Payment

PYMNTS

For Billtrust, that meant the creation of a digital lockbox to consolidate the collection and integration of reconciliation data, as well as the development of its Business Payments Network, which allows firms to efficiently view their business partners' preferred ways to pay and get paid. But further education is needed, said Lane.

B2B 89
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Healthcare's Back Office Catches Up To The Industry's Digitization Push

PYMNTS

Adding to the headache is the sector's typical burden of a high volume of transactions that flow via legacy and paper-based processes. In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies. Prioritizing Data Connectivity.

Lockbox 74
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How B2C Companies Tap Into Integrated Receivables

PYMNTS

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. However, as check volumes are now on the decline, B2C companies are receiving payments from other channels, such as bill payment sites.

B2C 46
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Deluxe CEO: B2B Payments Will See Resurgence In Paper Checks

PYMNTS

Stretching back to March and April, as the pandemic hit, the decline has been evident in daily, monthly and quarterly check order volumes. Lower business volumes translate, naturally, into lower check volumes. A temporary lull. trillion a year — that’s 10 percent to 15 percent of the U.S. economy.

Checks 78
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Why The Time Is Right For Banks To Tap Into Integrated Receivables

PYMNTS

While treasury management has always been a critical component of bank offerings, most treasury management solutions today are limited to lockbox processing. And as the check volume continues to decline, those electronic payments are increasing. However, corporates are receiving payments through all sorts of channels. percent to $3.6

Lockbox 40
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Innovation Eases The Friction Of Global Payment Rails

PYMNTS

With in-person payments for fines and fees no longer possible, government entities at the local and state levels are seeing a surge in ACH volume, according to Jeff Thorness, president of Forte Payment Systems, a CSG company. ACH Gets A Boost In The Public Sector.