PYMNTS

OCTOBER 23, 2017

Whether it’s an employee or a supplier, payees each have different needs that corporates must keep in mind, Bloh said. The CEO explained that businesses making a payment are trying to extend a workload out to payees. That doesn’t mean B2B payers and payees should be complacent in sticking with the paper check, though.

B2B

PYMNTS

OCTOBER 31, 2019

And while the lockbox continues to play an important role in AR and reconciliation, it no longer addresses the entire challenge as more electronic payments come in without remittance data. He did note, however, that he is “very optimistic” about the emergence of new payment services able to move remittance data along with funds.

Lockbox

PYMNTS

AUGUST 7, 2018

The intent of the organization is to help payers better identify [the] payee information they need in order to make electronic payments,” he said in an interview, adding that the directory aims to be “payment agnostic” and support payments made via a variety of rails, including FedWire, ACH, SWIFT, lockbox and, yes, paper check. “The

B2B

EBizCharge

JUNE 19, 2024

Remittance advice documents generally consist of the following; The name and contact details of the payer The remittance advice date Payment amount and currency Payment method (e.g., Why do you send remittance advice?

Payer

PYMNTS

MAY 7, 2020

But addressing payee needs is just as critical to easing the digital migration. 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.

Checks