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fintech.net’s regulated and general commerce EFT programs
provide an additional value-added service to both buyers and sellers.
fintech.net’s FTX® Internet Services
provide trading partners with the ability to exchange and settle
invoice information research transactions, communicate and expand
their business needs in real-time from anywhere in the world.
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| Payment Services |
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Tired of tracking payment dues dates? Wondering about cash flow
management? Our Payment Services simplifies your A/P cycle by
allowing you to pay who you want when you want. All of your data
and payment information is stored in our system just like your
regulated and general commerce transactions.
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| Regulated Commerce |
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fintech.net's Regulated Commerce Solution provides electronic invoice
exchange and settlement services for regulated goods (beer, wine and
spirits) between sellers and buyers according to State regulations.
Due to the state agency's
control of these types of transactions, regulated payments are
initiated by the seller, who submits the detail invoice data to
fintech.net for processing and reporting back to the
buyer. These payments are processed by fintech.net based on the
payment due date submitted by the seller. Payments may be immediate
or term, either way, they are processed as a simultaneous transaction
by fintech.net through the Federal Reserve banking system, crediting
the seller and debiting the buyer at the same time.
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| General Commerce |
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fintech.net's EFT solutions provide trading partner communities a secure
method of electronically exchanging delivery data, settling invoices,
and reconciling payment activity in both automated and interactive
formats. By utilizing fintech.net, users are able to enhance their
existing systems and maintain a single source solution for the entire
invoice and settlement process. fintech.net's general commerce
solutions allow buyers to customize their program, by seller, in a manner
that allows them to benefit most from their fintech.net EFT program.
For general commerce invoice exchange and settlement, buyers may opt to
receive invoice data electronically and/or simply choose to pay via EFT
instead of issuing a check. If invoice data is exchanged, data received
from the seller is converted, by fintech.net, into the buyer's
preferred format. Buyers can then take this data and approve it for
payment electronically. At approval, buyers create a payment file and
submit it directly to fintech.net for processing. Payment details are
exchanged between the parties at the time of payment and made available
for direct interaction with the each party's existing system for
simplified reconciliation.
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