Prelude's Insights on Outbound Payments Blog
Request More Information

Prelude's Insights on Outbound Payments Blog

The top 5 reasons Insurance Carriers are slow to implementing new payment methods

Read More

Tags: Deluxe, MasterCard Send, WEX, electronic checks, eChecks, multi-party ACH payment, direct-to-debit payment, virtual card for provider payments, receiving virtual card payments, virtual card payments healthcare providers, virtual card payment solutions, virtual card payment program, virtual card payment implementation, single use cards, single use card, in-n-out single use card, credit card single use number, accept virtual credit card payments, how do virtual card payments work, virtual card payments, single use card number, single use card numbers, virtual credit card payments, virtual card payment, virtual credit and debit card payments, System Integration, 1099 Processing, check fraud prevention, check fraud protection, check fraud, fraud prevention, fraud protection, fraud, US Patriot Act, OFAC Compliance, safety, funds, fees, refunds, interchange, dividends, commissions, discounts, payroll, Visa, loaded, reloaded, reward, iCareCard, re-issuance, same-day cash, Trends and Observations, Prelude's Payment Tips, Funny Insurance Ad, CATs, Catastrophic Events, insureds, PointPay, mobile insurance solutions, problems insurance industry faces, electronic payment, insurance industry trends, PayPilot, reduce cost of processing claims, increase customer satisfaction in insurance indust, lower cost of processing claims, claims processing improvement, insurance claims processing, payment disbursement hub, enterprise-wide middleware, transaction, claim settlements, reconciliation, payee, MICR checks, checks, claim payments, issue payments, disbursement processes, issue claim payments, payments by cards, payments on location, speed of the transaction, new payment methods, reduce the costs of issuing payments, issuing outbound payments, ancillary processing, control, originating systems, methods of payment, bank account info, issue payments to the one-off payees, payments via cell phone and email, recurring payees, bank account information, SUA, card payments, reduce risk, Single Use Accounts, Payee Positive Pay, electronic remittance, Positive Pay, issuing payments, single payment, remittance.electronic payments, bulking, individual payments, vendors, wet signatures, approvals, paper, improve process, cost of issuing a paper check, competitive threat, flexibility, security, changes to process, regulation, make the process better, primary drivers, disbursements, disbursement hub, Outbound Payment Processing, add-on components, lifecycle of existing systems, nimbleness straight through processing, cost savings, bank agnostic, disbursement workflow, self-service capabilities, integrity of payment data, provides transparency, remittance data, issue payments electronically, Guidewire, Accelerator, Accelerators, Partner, Partners, PartnerConnect, Zelle, Payee Payment Portal

Issuing outbound payments via cards help reduce processing costs!


Let Your Checks Bounce?

Guest Blogger for
Prelude Software:
Larry J. Kane

So, you make a lot of payments every month, right?  And, if you are like most companies, a good majority of those outbound payments are in the form of a check or an ACH transaction. You spend a lot of money and effort to issue those outbound payments, and you don’t get any “bounce” from your efforts. In fact, what you do get is the expense of cutting the check, which some statistics claim can be as high as $20.00 each, or creating the ACH file, etc. And to reward you even more for your efforts, you get the task of trying to obtain a Routing Number and Account Number from your payee if you want to pay by ACH, or the cost of tracking lost checks, re-issuance, reconciliation, etc, etc. So where is the bounce for you and for your payee?  When you pay by check or ACH the payment is made; the money gets spent and the transaction has no more life, and no reward for either you or your payee. 

Read More

Tags: ACH, disbursement workflow, cost savings, payments by cards, disbursement processes, issue claim payments, issue payments, iCareCard, checks, MICR checks, re-issuance, reconciliation, reward, payee, loaded, reloaded, Visa, transaction, discounts, claim settlements, payroll, commissions, dividends, refunds, insureds, interchange, fees, same-day cash, funds

Do you know the items on the Disbursement Hub Checklist?

Disbursement Hub Checklist

Learn the key items to consider when implementing a disbursment hub for your organization. 

Download Checklist

Subscribe via E-mail

Latest Posts

Posts by category

Follow Me