PaymentWorks
EFT fraud protection platform for accounts payable.
PaymentWorks enables Visa customers to grow their virtual card spend by optimizing payment options for different payees and payment types (ACH, Check, Virtual Card).
Business Identity Platform
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Category
Fraud Solutions
Solution Information
PaymentWorks protects Accounts Payable departments from fraudulent ACH and Wire Payments. Vendors provide their payment instructions, and PaymentWorks verifies the bank account account ownership and indemnifies customers from fraudulent payments.
PaymentWorks is a SaaS platform that allows accounts payable departments to manage and maintain vendor master information in an automated, self-service environment, thereby enabling: 1) EFT fraud protection), 2) Regulatory Compliance (i.e., vendor sanction monitoring, diversity tracking, etc.) and 3) Cost Savings (by switching vendors from Check to EFT- both ACH and Virtual Card).
Program
Fintech Partner Connect
Capability
Value Added Services
