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Research shows that a huge volume of B2B payments cannot be successfully completed without human intervention. No matter what size your business has, you probably have personal experience with the problem: Do disparities between purchase orders, invoices and payments leave you or your AR staff intervening time and again to solve payment problems manually? If your answer is „yes“, we have a perfect solution for you – Traxpay Augmented Payments. Traxpay Augmented Payments adds a data Layer on top of bank payments by corporates that allows additional process automization at corporates like better cash flow planning and automatic payments reconciliation.
With our system that can automatically adapt to the complex and frequently changing data connected to B2B payments, businesses you are not going to lose time and money anymore.
MAKE TRAXPAY AUGMENTED PAYMENTS WORK FOR YOU
Traxpay Augmented Payments enriches B2B payment transactions with additional data from ERP systems and allows 100% automatic payments reconciliation.
Cross-border payments can be made in any currency that the partner bank supports, and alongside payment suppliers will receive the all-important – and normally absent – transaction data in their format of choice. Service users also have the option of allowing Traxpay to handle the monitoring of all activity over a dedicated account and providing status updates to the relevant parties. These updates are shown in a dashboard, like the screenshot shows.
All communication with the bank, for submission of payment files and optional monitoring of transaction
status, is based on approved standards such as EBICS, which means security, authentication, and approvals are all handled according to the highest possible requirements. Traxpay can easily add support for new regions and finance formats based on the needs of users. Examples of currently supported formats: CGI ISO20022 PAIN formats, PAIN.001 and PAIN.008 for SEPA together with relevant advice formats, ISO2022 CAMT.52 and CAMT.53, and NACHA for the US. Both buyers and suppliers can have total peace of mind in the knowledge that they will be notified of any events affecting the invoice data.
The core features of Traxpay’s Conditional Payments service can be utilized for a monthly fee per buyer and supplier registered on the platform. Low, variable fees are also applied on transactions. For full details of our fee structure, contact us at firstname.lastname@example.org.