Payments Hub

ePayables is an electronic payment solution that replaces your check payments with a virtual card assigned to each vendor. When an invoice is received and approved, the AP department sends an EFT (electronic file transfer) to the bank indicating the disbursement amount for each card.

An EDI 820 is an electronic exchange of payment and remittance advice between trading partners. It enables companies to streamline the supply chain process and eliminates the need to send paper documents. As part of invoice workflow management, EDI 820 automation submits data directly into the receivable system and keeps the cost of business down.

Remittance advice is a detailed notification of the payment amount sent by a payer to a payee. Examples are customer to vendor or supplier, employer to employee, bank or money transfer company to the receiver of funds, or from a claims processor to a healthcare provider as electronic remittance advice (ERA) when patients’ insurance claims are paid.

A payment service provider makes it possible for merchants to set up ecommerce and accept online payments. They offer shops a payment solution for accepting electronic payments by a variety of methods, including:

Electronic money is a digital store of a medium of exchange on a computerized device. E-money can be used for payment transactions, with or without bank accounts. The great advantage of course is a cashless payment system that makes money transfers of any size quick and easy.

A virtual card payment is a digital card transaction made between AP departments. As a payer, you predetermine the amount. Since the payment is virtual, it’s highly secure and protects the business issuing it. The payment method is designed as a smart alternative to ACH and check payments.