OnGrid’s Post

Since launching our “Invite a Recipient” feature, payment detail queries have dramatically decreased. Vault customers no longer have to decipher lengthy PDFs filled with SWIFT codes, intermediary bank details, or foreign local payment info. Now, vendors enter their own payment details, and companies can pay them with just a few clicks. Simple and efficient.

Did you know? Whenever a client pays through their online banking bill pay function, the bank generates an actual paper check that your firm has to process 🤨 QuickFee Bank Direct eliminates the hassle of dealing with those extra checks. Read our blog to learn how: https://lnkd.in/gEJBKS2i How it benefits your firm: 🎁 Save valuable time and process fewer checks. 🎁 Receive payments electronically within days. 🎁 Track all payments in one portal for easy reconciliation.  🎁 Reduce the risk of NSF fees and chargebacks to the firm. Ideal client candidates: 💻 Clients already using online banking bill pay to pay invoices 🔒 Clients who prefer not to share their bank information online for an #ACH transfer. Contact us directly to use Bank Direct at your firm! https://lnkd.in/gb2WVecg #QuickFee #araccelerator #paperchecks #payments #billpay #accountingandaccountants

#BUSINESS| ‘Vendors not customers”: FirstBank clarifies notice of system upgrade to the public FirstBank has clarified that notice of system upgrade is for vendors and not customers https://lnkd.in/eHR6jMrV #BUSINESS #news #firstbank #trendingnow

Why are credit card transactions relatively slow? Credit card transactions involve multiple parties: the cardholder, the merchant, the acquiring bank, the credit card network (like Visa or Mastercard), and the issuing bank. Each step in this complex process incurs fees and potential delays. Transactions are not always instantaneous. While the initial authorization might seem quick, the settlement process can take a few days to complete.

Did you know a staggering 81% of businesses still issue physical checks to pay other commercial entities? Not only are electronic payment methods more efficient, they mitigate risks and reduce costs. Our latest blog dives into why ditching paper checks is more critical than ever. When you eliminate physical checks, you also accelerate the order-to-cash cycle—which equals money in your bank. Check out the full blog here: https://lnkd.in/eeS_QBrT #QuadientAR #AccountsReceivable #ElectronicPayments

How to Identify Dormant Bank Accounts:- 1. Check Old Bank Statements 2. Search Online Banking Portals 3. Contact Your Bank Directly 4. Use Government Resources (if available) 5. Look through old emails, letters, or notices from banks regarding account activity 6. Search for Escheatment Notices To know more about us call:- 9899055592 . . . . #PhysicalShares #ShareRecovery #DormantAccounts #UnclaimedShares #ShareCertificate #StockManagement #ShareDematerialization #LostShares #FinancialRecovery #InvestorServices #InactiveAccounts #ShareholderSupport #UnlistedShares #ShareReactivation #SecuritiesManagement

High-Risk Merchant Account: Its Key Characteristics A High-Risk Merchant Account is simply a bank account designed exclusively for the purpose of accepting payments by using credit or debit cards as well as other electronic payment options. If a company intends to do business through electronic transactions. https://lnkd.in/gcZJsbTk #HighRiskMerchant #RiskManagement #PaymentProcessing #BusinessRisk #MerchantServices #FinancialSecurity #TransactionSafety #RiskAssessment #SecureTransactions #FinancialTechnology #PaymentIndustry #FraudPrevention TailoredPay Daniel Kroytor Stax Payments Kount

What are Electronic Fund Transfer (EFT) Transactions? Any time money is moved through electronic means instead of a paper-based transaction, this is considered an electronic funds transfer. Online self-serve transactions aren’t the only type of payment classified as an EFT. Payments made through any digital method (like over the phone) qualify as electronic payments. Some of the most relevant examples of types of EFT payments for merchants are: 📌 ACH payments 📌 Wire transfers 📌 Bank card (debit card) payments 📌 Phone system payments 📌 Electronic wallet payments Want more info on Electronic Funds Transfers? Check out the link in the comments for the full guide: 

Why are payments so complex in the States? If I owe a friend some money for lunch and they do not use any of the P2P methods (Zelle, Venmo, CashApp, Paypal, etc.), then im left with ACH or a check. If they do not know (or don't want to share) their banking details, it is check only (or wire and of course good ol' fashioned cash) If i owe a contractor $33K for some work on my abode, I can only use a check or wire. If only there was a payment method that would be digital, universal, and did not require the knowledge of recipient's banking details. Fin3 is doing its part to make that possible: Digital Drafts #DigitalPayments #UCCReform #DigitalDrafts #GoodbyeChecks