U.S. Bank Simplifies B2B Electronic Payments
October 29 2014 - 11:08AM
Business Wire
New Basic Payment Instruction File Helps
Organizations by Reducing IT Complexity
U.S. Bank today announced a new version of its Access® Online
Payment Plus payment instruction file that simplifies
business-to-business electronic payment and calls for little-to-no
technology investment. The Payment Plus basic payment instruction
file transmits payment instructions from the customer to U.S. Bank
though a simple CSV (comma separated value) file that is easy to
use and fast to set up. Because it requires the completion of
substantially fewer information fields than the standard payment
instruction file, typical users won’t need dedicated IT resources
to program it.
“After a couple of hours of work and a few clarifying questions
with the U.S. Bank team, the project was done,” said Mike Anderson,
chief financial officer for Lakeview Construction of Pleasant
Prairie, Wis., one of the first users of the Payment Plus basic
payment instruction file. “Anyone who has an accounting system with
basic reporting tools should be able to create the file pretty
easily. Overall, the process was very streamlined and took very
little IT time.”
The basic payment instruction file is ideal for organizations of
any size and has special appeal among middle-market customers.
Removing the need for IT support dramatically shortens the Payment
Plus implementation cycle. This allows organizations to quickly
transition from payment by paper check to electronic payments,
which reduces costs and enhances cash management.
“Now, organizations with limited IT resources can quickly and
easily gain the benefits of electronic payment through U.S. Bank
Payment Plus,” said U.S. Bank Payables Product Manager Bob Kaufman.
“The basic payment instruction file complements other Payment Plus
payment instruction file formats to offer customers more choices
and get them on the road to electronic payment faster.”
For more on U.S. Bank payment services, visit
https://www.usbpayment.com/payables-solutions.
About U.S. BankMinneapolis-based U.S. Bancorp (NYSE:
USB), with $391 billion in assets as of September 30, 2014, is the
parent company of U.S. Bank National Association, the 5th largest
commercial bank in the United States. The Company operates 3,177
banking offices in 25 states and 5,026 ATMs and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at
usbank.com.
Bill Brady, U.S. Bank Public Relations(612) 303-0731,
bill.brady@usbank.com
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