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Legacy systems can be a problem across the board in the payments industry, and corporate deposits are no different. Many of the remotedepositcapture (RDC) systems in place today have been around for 15 years or longer. Second, the payment must be logged so that open invoices can be closed out.
The paper check has a nasty reputation in B2B payments as a cumbersome, manual and risky payment rail. Yet data from the 2016 Association of Financial Professionals’ Electronic Payments Survey released last September actually found a 1 percent increase in corporates’ use of paper checks compared to two years ago. API Steps In.
It’s a time of great transformation for payments in the eyes of FinTechs: “The payment market is changing rapidly with the adoption of electronic payments and soon-to-be real time payments,” DadeSystems Chief Marketing Officer Tom Berdan told PYMNTS.com in an interview.
A recently filed federal lawsuit over remotedepositcapture technology (RDC) could signal the start of a wider patent-infringement struggle among banks, according to experts. USAA operates only four branches, using scanner- and smartphone-based RDC to serve a global base of customers. Bancorp must pay $3.3
the data shows, and most are written by corporates, lenders and other enterprises via supplier payments, payroll, expenses and other types of transactions. According to Ingo Money CEO Drew Edwards, paper checks are simply an easier way for an organization to make a one-time payment to another organization with which it has no relationship.
With MOX Pay from Malauzai Software , community banks and credit unions will be able to offer their business customers apps that will enable them to accept payments via remotedepositcapture (RDC). The post MOX Pay from Malauzai is First with RDC as Payment Option appeared first on Finovate.
Table of Contents Bring ACH Payment Innovations to Your Clients If youre looking to adopt dual pricing or surcharging, its important to offer your clients flexibility in how they pay. Thats where ACH comes ina cost-effective payment solution that eliminates card fees and simplifies the transaction process.
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