Payment solutions and technology provider Transcard has set up a way for FinTechs, banks and businesses to leverage different payment rails or payment types to pay providers and consumers, according to a mailed announcement. electronic Thursday July 15 at PYMNTS.
The Software-as-a-Service (SaaS) offering, known as Smart Disburse, ties directly to existing software, banking application programming interface (API) layers, or enterprise resource planning software. (ERP) to provide a single or bulk send environment. payments, the ad said.
Users can immediately make a payment or set a time for one, via Mastercard Send, real-time payments, a virtual card or an automated clearing house (ACH), among other payment methods, according to the announcement.
âSmart Disburse is helping drive digital transformation by making all types of payments, including real-time payments, while facilitating the seamless exchange and real-time reconciliation of rich transfer data,â said Greg Bloh, CEO of Transcard, in the announcement. âIt changes the way payments are made. “
Built-in payment features allow users to send money directly from familiar screens within their older software or ERP platforms. Plus, the direct integration enables live reconciliation of payment data without intervention, eliminating the need to re-enter payment data or log in or log out of different platforms, according to the announcement.
Transcard said in the announcement that Smart Disburse is relevant for different applications, such as payroll, supplier payments, emergency payments, patient reimbursements, reimbursements, dividend payments, legal settlements, customer discounts and claims payments, among other use cases.
âSmart Disburse offers unparalleled flexibility and control for paying providers and individuals,â Transcard President Chris Fuller said in the announcement. âTranscard is delighted to bring to market an innovative platform that combines multi-rail payment capabilities, seamless integration with any legacy software, an ERP application or banking API layer, and automatic data reconciliation. in real time.
As PYMNTS previously reported, businesses need solutions that can seamlessly integrate and link payments to transaction data as the pressure increases for entities to optimize their accounts payable processes ( AP) and accounts receivable (AR).
Even though ERP seems like a logical place for this kind of functionality, the legacy solution struggled to make it a reality. Bloh spoke with PYMNTS this month about this ERP dilemma.