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Prelude's Insights on Outbound Payments Blog
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Tags: issue payments electronically, remittance data, Outbound Payment Processing, disbursements, make the process better, flexibility, cost of issuing a paper check, single payment, reduce risk, SUA, card payments, control, issuing outbound payments, reduce the costs of issuing payments, speed of the transaction, disbursement processes, issue payments, claim payments, checks, MICR checks, reconciliation, payee, claim settlements, claims processing improvement, increase customer satisfaction in insurance indust, lower cost of processing claims, reduce cost of processing claims, PayPilot, electronic payment, insureds, fees, check fraud, fraud, virtual credit card payments, virtual credit and debit card payments, virtual card payments, how do virtual card payments work, in-n-out single use card, single use cards, single use card number, accept virtual credit card payments, virtual card payment implementation, virtual card payment, single use card numbers, credit card single use number, single use card, virtual card payment program, virtual card payment solutions, virtual card payments healthcare providers, receiving virtual card payments, virtual card for provider payments, multi-party ACH payment, eChecks, electronic checks, MasterCard Send, direct-to-debit payment, WEX, Deluxe
Tags: issue payments electronically, remittance data, Outbound Payment Processing, disbursements, make the process better, flexibility, cost of issuing a paper check, single payment, reduce risk, SUA, card payments, control, issuing outbound payments, reduce the costs of issuing payments, speed of the transaction, disbursement processes, issue payments, claim payments, checks, MICR checks, reconciliation, payee, claim settlements, claims processing improvement, increase customer satisfaction in insurance indust, lower cost of processing claims, reduce cost of processing claims, PayPilot, electronic payment, insureds, fees, check fraud, fraud, virtual credit card payments, virtual credit and debit card payments, virtual card payments, how do virtual card payments work, in-n-out single use card, single use cards, single use card number, accept virtual credit card payments, virtual card payment implementation, virtual card payment, single use card numbers, credit card single use number, single use card, virtual card payment program, virtual card payment solutions, virtual card payments healthcare providers, receiving virtual card payments, virtual card for provider payments, multi-party ACH payment, eChecks, electronic checks, MasterCard Send, direct-to-debit payment, WEX, Deluxe
Profitability in healthcare has its financial challenges. Learn how to create a new revenue stream while improving efficiencies, cutting costs and improving reconciliation and remittance – PayPilot® with WEXHealth is the simple solution you are looking for.
Tags: issue payments electronically, remittance data, Outbound Payment Processing, disbursements, make the process better, flexibility, cost of issuing a paper check, single payment, reduce risk, SUA, card payments, control, issuing outbound payments, reduce the costs of issuing payments, speed of the transaction, disbursement processes, issue payments, claim payments, checks, MICR checks, reconciliation, payee, claim settlements, claims processing improvement, increase customer satisfaction in insurance indust, lower cost of processing claims, reduce cost of processing claims, PayPilot, electronic payment, insureds, fees, check fraud, fraud, virtual credit card payments, virtual credit and debit card payments, virtual card payments, how do virtual card payments work, in-n-out single use card, single use cards, single use card number, accept virtual credit card payments, virtual card payment implementation, virtual card payment, single use card numbers, credit card single use number, single use card, virtual card payment program, virtual card payment solutions, virtual card payments healthcare providers, receiving virtual card payments, virtual card for provider payments
According to findings published in the 2015 AFP Payments Fraud and Control Survey, 62 percent of companies were targets of payments fraud in 2014. The most targeted methods of payments were checks (77 percent), credit/debit cards (34 percent), and wire transactions (27 percent). Incidentally, checks were also the payment method most likely to result in financial loss, with 45 percent of the companies that experienced a loss due to fraud reporting that checks were involved. Despite the prevalence of check fraud, the survey also revealed that fully 70 percent of B2B payments are still made via check.
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Tags: AAA Insurance Exchange, AAA NCNU, payment processing, ACH, issue payments electronically, remittance data, disbursement workflow, nimbleness straight through processing, lifecycle of existing systems, disbursement hub, Outbound Payment Processing, disbursements, changes to process, flexibility, cost of issuing a paper check, improve process, approvals, bulking, remittance.electronic payments, issuing payments, electronic remittance, Positive Pay, Payee Positive Pay, Single Use Accounts, SUA, card payments, issue payments to the one-off payees, originating systems, methods of payment, ancillary processing, issuing outbound payments, reduce the costs of issuing payments, new payment methods, payments by cards, disbursement processes, issue claim payments, issue payments, claim payments, checks, MICR checks, reconciliation, claim settlements, enterprise-wide middleware, payment disbursement hub, insurance claims processing, claims processing improvement, lower cost of processing claims, reduce cost of processing claims, PayPilot, electronic payment, mobile insurance solutions, PointPay, Catastrophic Events, CATs, OFAC Compliance, US Patriot Act, fraud protection, fraud prevention, check fraud protection, check fraud, check fraud prevention
Tags: AAA Insurance Exchange, ACH, issue payments electronically, disbursement workflow, cost savings, disbursement hub, disbursements, make the process better, flexibility, improve process, approvals, bulking, issuing payments, electronic remittance, Single Use Accounts, card payments, methods of payment, ancillary processing, control, issuing outbound payments, reduce the costs of issuing payments, new payment methods, disbursement processes, checks, MICR checks, payment disbursement hub, PayPilot, electronic payment, PointPay, fraud protection, fraud prevention, check fraud
Tags: PayPilot, OFAC Compliance, US Patriot Act
In today's electronic age everything is going paperless, including payments, and security threats are evolving along with this change. Internet financial fraud is an increasing problem from overseas scams to identity theft. Businesses big and small are continuously fighting this invisible adversary with better and more complex security solutions. But with their knowledge increasing, the criminals always seem to be only one step behind.
Read MoreTags: ACH, integrity of payment data, bank agnostic, disbursement hub, Outbound Payment Processing, security, issuing payments, reduce risk, card payments, bank account information, bank account info, control, issuing outbound payments, disbursement processes, checks, MICR checks, PayPilot, electronic payment, safety
How Businesses Can Be Effective and Efficient With Current Infrastructure for Issuing Payments
Recently, in the CFO Journal, a section of the Wall Street Journal, an interesting article regarding “Why Can’t We Get Rid of Checks” highlighted that U.S. businesses still pay half of their bills with paper checks.
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