When it comes to faster payments, most middle-market executives express an enthusiasm for the growing number of payment options, but many freely admit that they remain uncertain about which solutions best suit their business. What’s more, executives from midsize firms say that they require some guidance as far as how to prioritize the different payment options goes.
Join us when Laura Listwan and Adam Kruis of U.S. Bank guide us down the list of growing faster payment options and reveal the differences that may make certain payment options a better match for your business than others.
Laura Listwan is Senior Vice President, New Product Development Leader in Treasury Management, at U.S. Bank.
Adam Kruis is Vice President, Working Capital Consultant in Treasury Management, at U.S. Bank.
Options for Faster Payments
A partial list of decision-making criteria from Laura and Adam’s article
• Same-Day ACH
Same-day settlement is important
Sending extensive data (addenda) with the payment is a requirement
Payments are domestic and less than $25,000
Relatively small (i.e., less than $5,000) payments to individuals
Email addresses and phone numbers for payees are easy to obtain and validate
Bank account information isn’t easy to obtain or store
• Visa Direct or MasterCard Send
Consumer payments are relatively small (i.e., less than $5,000)
Debit card information is easy to obtain