A growing number of companies are replacing paper-based payments communications with systems using the standard Internet protocol for data transmission: Electronic Data Interchange (EDI).

EDI enables financial systems among different companies, financial institutions and government agencies to transmit, receive and process orders, invoices, payments and other electronic communications using a standardized document format.

Electronic payments processing can help you:

  • Make secure just-in-time payments to suppliers in the U.S. and abroad.
  • Automate traditionally manual payments issuance, saving time and money on check preparation, postage.
  • Increase data security and integrity of your files and communications.
  • Speed reconciliation and payment matching to POs and invoices and report on payables more frequently.
  • Improve cash forecasting processes with up-to-the-minute balances.
  • Get secure 24/7 access to files on computers and mobile devices.

Electronic payments processing is often used to:

  • Originate payments to overseas customers and suppliers using our accessGLOBAL ACH® application.
  • Transmit checkwriting requests to be fulfilled through our CheckMint® service.
  • Initiate system-to-system bulk wire transfer payments.
  • Send remittance instructions to authorize your suppliers to charge approved invoice amounts using our accessAPcard solution
  • Make ACH payments to your suppliers without needing to store or maintain bank account details for your vendor(s) using our accessPAYMODE-X service

If you want to augment or replace some of your paper-based payments systems, a Treasury Solutions Specialist can work with you to implement a program that can be fully integrated into our compatible cash management services.



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