Data: Employing real-time payments helps businesses enjoy the benefits of both financial channel and data channel capabilities, providing users with vital information and metrics with each transaction
Real-time payments are rapidly picking up steam. in today's business marketplace. Over a third of U.S. companies plan to adopt real-time payments in the next three years, and for innovation Leaders, that figure is as high as 60 percent.
The reasons for this are clear. For one, companies want the improved cash flows and payments certainty that real-time payments can deliver, as well as the security and anti-fraud mechanisms that are considered to be among its most important features. Businesses want to leverage them to enhance key areas of their business, including payroll, expense reimbursement and B2B payments.
Our team is fully engaged with the advancements being made, as well as the current solutions available in the marketplace. Contact us to learn more about how your organization can benefit from Real-time Payments.
Benefits Companies will see:
Reduce costs: Virtual payments eliminate the need for paper checks. Loading, printing, and disbursing checks can add up to a significant expense, particularly when the costs for labor and tracking lost or stolen checks are built in.
If you are involved in purchasing or financial decision-making for your company, you have likely heard the excitement surrounding Virtual Payments (also known as electronic or e-payments) over the last few years. Industry processes such as printing, issuing, mailing, depositing and reconciling checks all add to your company’s costs and take up a large amount of your staff’s time. Setting up a Virtual Payments program offers several benefits for both your business and your suppliers. It streamlines processes, improves cash flow, reduces costs, and mitigates risk for your business.
Reduce costs: Virtual payments eliminate the need for paper checks. Loading, printing, and disbursing checks can add up to a significant expense, particularly when the costs for labor and tracking lost or stolen checks are built in.
Security: Businesses that use real-time payments offer more secure payments services, such as fraud and data protection measures that are built into the system.
If you are involved in purchasing or financial decision-making for your company, you have likely heard the excitement surrounding Virtual Payments (also known as electronic or e-payments) over the last few years. Industry processes such as printing, issuing, mailing, depositing and reconciling checks all add to your company’s costs and take up a large amount of your staff’s time. Setting up a Virtual Payments program offers several benefits for both your business and your suppliers. It streamlines processes, improves cash flow, reduces costs, and mitigates risk for your business.
Cash flow: Adopting real-time payments technology allows businesses to improve liquidity and planning.
Global competitiveness: Businesses that use real-time payments are more competitive, as the technology is becoming the standard for global commerce.
Real Time Payments
Efficiency: Businesses that adopt real-time payments avoid the delays, paperwork, and back-office labor associated with ACH. They also enjoy the enhanced reconciliation of funds, as information is passed along with the transaction