FTNI Announces Expanded Invoice Presentment Feature to Include Check21 items

Written by: FTNI Admin

Offering now extends to all payment methods, through all payment channels

OMAHA, NE. – April 17, 2012 – Financial Transmission Network Inc. (“FTNI”), a provider of industry leading payment solutions, today announced that it has expanded its invoice presentment functionality within its award winning ETran Integrated Receivables Management platform.

As merchant’s interest in moving to self-service payment portals continues to increase, FTNI’s ETran Integrated Receivables Platform continues to stay ahead of the curve. With the ability to deal with all payment methods (checks, ACH, credit cards and cash) and extending invoice presentment to all payment channels (Mailed-In, Walked-In, Called-In and Web) continues to leverage the uniqueness of the solution. When combined with payment posting, invoice presentment through all channels completes the loop and extends the company’s goal of streamlining of payment processing.

Previously, invoice presentment was available to Walked-In, Called-In and Web payments but FTNI’s customers and prospects have embraced the ability to extend this to Check21 processing. Often times those Mailed-In check payments include either a coupon or a payor-created remittance device that outlines which open invoice entries are being paid by the check. By extending invoice presentment to this payment channel, FTNI customers can continue to save time and money in associating those payments to the proper outstanding invoices. By merely viewing the coupon image that is scanned with the check, the operator needs only to “click” on the same items in the open invoice popup. This eliminates the issues and repairs associated with “rope and zone” manual techniques. FTNI’s ability to support “Short Pay” exceptions for the other payment channels has also been carried over and included in the Mailed In channel, as well.

By accepting a new invoice file import after each A/R update cycle (daily or intra-day) and by updating the invoice popup with payments that may have already been processed through another channel, the duplicate payment of invoices is virtually eliminated, regardless of which channels are used. Once ETran payments are posted to the merchant’s A/R system, a new invoice file is created for import into ETran and the cycle repeats.

Doug Fisher, EVP of Software Solutions of FTNI, commented, “FTNI continues to invest in value added features that helps to drive down our Customer’s costs through streamlining their payment processes ”.

About FTNI

Financial Transmission Network, Inc.’s (FTNI) ETran platform incorporates remote deposit capture (check scanning), ACH and credit card processing on single, managed platform to help clients reduce costs, accelerate timelines and improve transaction processing quality. The Company’s software enables customers to setup recurring payments (ACH & credit card), message between users and provide custom integration into back offices systems, thereby reflecting the payment activity in the merchant’s A/R system. This technology offers merchants a turn-key, single-payment platform in a software-as-a-service (“SaaS”) environment that is fully PCI-compliant, thereby eliminating the hardware and software costs associated with traditional solutions. Due to its modular approach and easy deployment, the ETran platform can be deployed in a variety of verticals and customized easily to fit the end-users needs.


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