Banks seeking to offer their corporate clients integrated payments functions now have the option of using solutions from providers such as Princeton eCom, Metavante and CardSystems
Just last week, Bank of America launched its Remote Payments Online service, an integrated electronic receivables solution for corporate clients, using Princeton eCom technology. Billers, banks and enterprises implementing Princeton eCom’s CollectPay solution can consolidate web- and phone-based payments onto a single platform that accepts ACH or credit card transactions while receiving funds more quickly and improving reporting.
Volkswagen Bank, for its part, is to install an integrated banking and payment platform for bank accounts and processing, electronic banking, EFT and payment card services, using a solution from Metavante. Once the integrated platform is established in Q3 2004, Volkswagen Bank will use the Internet to offer deposit services such as certificates of deposit, consumer electronic banking, ATM and debit cards and online bill payment. Volkswagen Bank, a wholly owned subsidiary of VW Credit, Inc, entered the long-term agreement with Metavante to provide its customers with convenient financial services products.
Separately, National Transaction Corporation (NTC) is to provide business clients with multi-channel B2B payment options based on an integrated payment solution from CardSystems Solutions. Acquiring banks and ISOs can use CardSystem’s processing infrastructure and support services to manage the payment processing cycle while also handling dispute resolution. As more banks and third parties offer integrated payments platforms, value-added services like dispute resolution, reconciliation and reporting functions will enable differentiation in a competitive market where payments processing is becoming commoditized.
|
