Over 85% of businesses prefer to receive electronic payments over paper checks.
2021 Payments Study; Aite Group
Give your customers digital payment solutions that are fast, easy and low-cost. Check all the boxes with revenue-driven offerings that boost satisfaction and retention.
OVERVIEW
Increasingly, the need for liquidity has become important to many customers, and they’re looking for financial institutions that can provide it to them. A cost-effective way to increase customer satisfaction while providing a new revenue stream for your bank or credit union is to offer smart payment solutions. Deluxe Payment Exchange empowers your financial institution to:
FEATURES & BENEFITS
Deluxe Payment Exchange integrates easily with existing AP software, with no required changes to current processes or software to download.
We make bookkeeping easier by conveniently sending remittance data with each payment to both consumers and businesses.
Payees can choose to print and deposit payment as a paper check, direct deposit, deposit to a debit card, or use PayPal while the payment always disburses and settles as a check.
Positive Pay, Check Verification and EzShield Premium Check Protection are all ways Deluxe Payment Exchange offers your customers protection from fraud.
Facts
KEY BENEFITS
Engage with our Advisory Services team to analyze your current customer base and partner to build a plan for success.
We’ll identify opportunities within your existing customer base, from heavy check users to those using outsourced solutions to support business case development.
Based on a comprehensive analysis, we’ll show how a true digital solution can benefit target businesses, while enhancing security and optimizing working capital.
Through training, sales tools, marketing materials and professional support, we’ll make the process easy to understand for your bank staff and customers.
HOW IT WORKS
If sending by eCheck, Deluxe Payment Exchange digitally sends the payment and remittance notification to the payee by email. If by Print+Mail, the payment is printed on high-security check stock and mailed the same day by Deluxe.
Request a free demo
Simply fill out the form and one of our experts will reach out to help you get started.
TESTIMONIALS
RESOURCES
Yes, there are several options, all integrate with your existing processes. Deluxe Payment Exchange is scalable - your account holders can utilize the platform directly, upload a CSV file or connect via API. There are no major infrastructure or accounting process changes required. Your account holders can sign up today and disburse payments tomorrow.
There are several safeguards put in place to ensure the security of the platform. The first requires all users logging into Deluxe Payment Exchange to use multi-factor authentication to ensure access to their account is accessible only to them. All accounts created go through a rigorous, multi-stage security process before users can start sending checks and continues through retrieval, deposit and system audits. And finally, all safeguards you would find with a traditionally disbursed check are in place. A check verification service is available for all eChecks and Print+Mail payments are written via Deluxe Payment Exchange.
Offering many electronic payment options including ACH and BillPay is a smart business decision. Checks are a common form of payment today and by focusing on digitizing check payments an FI is providing an optimal payment experience especially when a check is being issued, saving time and money. Bill Pay is best for consumers (one check at a time). Businesses want to efficiently issue multiple payments with remittance data in conjunction with current accounting software in use today which Deluxe Payment Exchange allows for. Positive Pay integration- issued checks can be sent to the FI’s PP system on behalf of the payer.
Lower cost digital solution and more secure than current check payment methods.
Significant fee revenue to upsell to account holders.
We have a ‘quick go to market path’ with minimal IT investment as well as a fully integrated offering.
This is dependent on the integration path your FI selected, but the onboarding process can be quick and your clients can be up and running in a short amount of time.
