Lockbox technology has been a useful tool helping companies process payments since the 1950s and is still in use today. New payments methods and channels have come along, but in 2016, for the first time in over 10 years, B2B payments made by check increased by a full percentage point (according to the 2016 AFP Electronic Payments Survey). The need for lockboxes are here to stay for the foreseeable future.
No matter how you look at it, it’s time to make your lockbox operations—whether in-house or outsourced—work for you. Imagine a lockbox processing platform that could:
That’s not the lockbox of the future. That’s what’s possible today.
User-friendly interface to consolidate all lockbox, RDC, ACH and Credit Card transactions.
Flexibly scan single or multiple remittance documents (up to 8.5" x 11") with each transaction.
Accept, process and post payment and associated remittance information in a single pass.
Seamlessly accept any payment method, from any payment channel—all on a single, SaaS platform.
Compatible with existing back-office systems, banks, merchant processors and check scanners.
Multiple Layers of proactive security and compliance—PCI, SSAE 16, HIPAA and more.
Magnetic Ink Character Recognition (MICR) matches customer account data with AR details.
Complete electronic invoice presentment and payment (EIPP) capabilities.
Quickly configure custom business rules and processes to streamline your AR operations.