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Deluxe Corporation is augmenting its treasurymanagement solution by integrating a bill presentment and payment processing function into its existing accounts receivable tool. Deluxe TreasuryManagement said in a press release on Tuesday (Oct.
The pandemic has spotlighted the inefficiencies among payers, receivers, chief financial officers (CFOs), financial institutions (FIs) and others that had been simply accepted as the cost of doing business in simpler, steadier times. Morgan Chase ; and Brad Windbigler , head of treasury and investor relations at Western Union.
Corporate finance executives seem to be readying for real-time payments, preparing to adopt faster payment capabilities and bracing for changes to their cash flow management strategies as a result. A new report from Deutsche Bank said this industry path is guiding banks and corporates to a new destination: real-time treasury.
One mode supported by Transcard’s new offering is RTP, a faster payment capability that, while quickly gaining traction, may not immediately seem like the right fit for B2B payers looking to hold onto capital as long as possible. On the contrary, said Bloh, RTP isn’t necessarily about speed. Everybody calls RTP a faster payment.
According to a statement , “gpi Link will seamlessly connect gpi members to multiple trade platforms, thereby enabling gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation.
PNC TreasuryManagement is rolling out a new solution designed to optimize corporate treasurers’ B2B payments. The decision will be made based upon an array of factors, including which payment method offers the lowest cost to the payer, enables the fastest delivery and other parameters pre-established by the treasurer client.
One of the biggest pro-check arguments in B2B payments today is that the payment rail lets corporate payers get a few extra days off to float cash. According to Cawthorne, banks are really perking up to small businesses’ (SMBs) needs in treasurymanagement. It’s a huge untapped market potential for them.
Through using the RTP network, the Columbus, Ohio-based company will be able to offer receipts and better communication options for payers and payees, including messaging, for both consumer and business customers, the release states. RTP is offered through The Clearing House and is touted as the first new payments rail in the U.S.
According to a statement , “gpi Link will seamlessly connect gpi members to multiple trade platforms thereby enabling gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation.
The bank said in news Monday (June 19) that supporting use of a mobile wallet solution for corporate payers can help business travelers streamline transactions with online payments and expensing while boosting security. “Companies also are focused on the changing demographics of the U.S. labor force. . labor force.
PNC Bank ’s treasurymanagement division recently sought to provide an alternative by offering companies capabilities for suppling employees with prepaid debit cards and then pushing payroll over faster payment rails onto those tools. percent of payers said they offered them. But how can firms come to these conclusions?
Commercial and virtual cards, meanwhile, support faster payments to vendors while enabling payers to retain their capital for longer, too, as well as the opportunity for rebates and rewards. For many businesses, which payment tool is best depends on many factors, from what their vendors prefer to payers’ own cash positions.
Stablecoin regulation (UK implementation expected late 20252026) The UKs stablecoin regime is advancing rapidly, with HM Treasury confirming its intent to regulate fiat-backed stablecoins used for payments under the Financial Services and Markets Act. Assess how stablecoin acceptance will affect treasurymanagement and FX exposure.
For service providers pushing for commercial card adoption from corporate payers, convincing vendors to accept the payment solution needs a multi-layer approach. According to PNC TreasuryManagement Executive Vice President and Head of Product Management J. Yet, companies are understanding the opportunities, too.
Although receiving payment is, of course, critical, without the ability to understand which invoice that transaction is tied to, AR, finance and treasury executives are unable to accurately analyze which bills have been paid, which are late, or which may have an issue with the customer. The Path to Integration.
” Payer Pain Points. Citi, meanwhile, is deploying its expertise in treasurymanagement and corporate cross-border transactions, with the PayPal partnership bolstering its recent string of B2B payment solutions — such as its cross-border accounts receivable solution, the Citi Global Connect platform.
The potential cannot be ignored, however – particularly in the finance department, where information from accounts payable, accounts receivable, treasury and accounting hold the keys to insight into cash flow, predictable payment behavior and new opportunities to boost the bottom line.
The event, sponsored by American Express, focused on the ways health care organizations can manage the exit of paper, manual-based accounts payable processes and progress into digital B2B payments. “Hospitals and health systems must find new ways to streamline operations to remain financially viable.”
. “We want to offer our customers the widest solution, soup to nuts — that means creation of the remittance data, creation of the payment, reconciliation of the payment, treasurymanagement services, the entire spectrum,” he noted, adding that virtual cards can address all of these needs for insurance firms. ”
Nearly three-quarters of the companies surveyed by iGTB said that they experience a lack of integration of their treasurymanagement or ERP systems with the banking solutions offered by their banks — a statistic Cantor deemed “outrageous.”. You sort of almost feel like saying, ‘Are you writing this all down?’” Cantor added.
The figure represents hidden costs of a travel firm with about $10 million in annual spend, researchers noted, and demonstrates the up to 3 percent in hidden costs B2B payments can pose for these payers. 100% cash visibility is unattainable for corporate treasurers , found a new report by Kyriba.
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