PRESS RELEASE:
CHATTANOOGA, TN,
November 16, 2020
Transcard, a global leader in payments automation, today announced the launch of an account-to-account (A2A) payments solution that makes it possible for buyers and sellers to exchange payments and data with greater speed and efficiency and less risk.
This launch represents the next phase in Transcard’s journey to modernize the way that businesses and consumers pay and get paid by bringing together an omni-channel payment platform, digital workflows, open Application Programming Interfaces (APIs), and payment integration services.
Businesses can now receive an e-invoice 24/7/365 via their preferred mobile banking or online channel, approve the e-invoice with a single click, instantly execute or schedule a payment via the Real-Time Payment (RTP) network or other modality, exchange the rich remittance data that a supplier needs for touch-free cash application, and reconcile settled transactions.
Integration services digitally connect the solution to any ERP applications used by a buyer or seller. Transcard’s A2A Automation solution does not require any changes to a buyer or seller’s banking relationships or legacy ERP.
The A2A solution also includes a directory of trading partners, payment terms and preferences, information, standard reconciliation data, and banking accounts details. This centralized business directory eliminates the need for buyers to request and store sensitive bank account information.
“The way that businesses pay and get paid is inefficient, unnecessarily complex, and risky,” said Transcard CEO Greg Bloh.
“Transcard’s A2A solution is a big step towards frictionless B2B commerce. By digitally connecting buyers and sellers through their banks and their ERPs, the A2A solutions makes the exchange of payments and rich remittance details fast, effortless, and secure.”
Transcard’s A2A solution is available now in the United States.
About Transcard
Transcard is a global leader in payments automation. Transcard offers solutions for accounts payable (AP), accounts receivable (AR), account-to-account (A2A) automation, and Banking-as-a-Service (BaaS). Serving organizations throughout the United States, Transcard has strong partnerships with more than 200 issuing banks and technology companies and proudly serves 550 top companies in many industries, including healthcare, property management, insurance, transportation, and financial services.