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Today's most profitable and successful organizations share a common trait - they operate on a holistic enterprise basis and fully understand the power of integrated solutions across a business.
More»Learn how an integrated, electronic approach can improve your company's payment processes. Includes a case study showing how one client optimized its payment process with ExacTracSM, JPMorgan's electronic payment tool that expands the reach of card-based systems.
As payments convergence builds momentum, companies are seeking a new plateau from which to strategically manage the entire receivables process for improved financial performance. In parallel, JPMorgan Chase is working at the industry level to drive systemic efficiencies and extend the benefits to its clients. Our leadership within the industry affords the opportunity to be at the vanguard of payments transformation, and, from that position, contribute to shaping its development.
Now that CLS is settling 40% of all value relating to the 15 CLS eligible currencies and over 60% of trades in the interbank market, Mark Garvin talks about the need to ensure that CLS settlement is widely available and used to its full extent by members and third parties alike.
The payments world is changing. From determined early adopters come tales of promise, while some are taking more of a wait-and-see approach. While everyone debates image exchange and its benefits, a new world of image-enhanced payments is emerging.
New developments are spurring growth in the use of prepaid debit cards. A recent study by Pelorus Group indicates that more than 22 million prepaid cards will be issued in 2004, and cards in circulation will rise to over 50 million within five years.
Growth opportunities in recent years have come from new markets, such as Eastern Europe; from recovering economies, such as Latin America and Southeast Asia; and from the economic transformation of India and China. However, these opportunities have come at some risk.
Retailers, merchants and billing companies seek more cost-efficient and reliable methods for processing checks. With Accounts Receivable Check (ARC) conversion, both billers and consumers may now reap the benefits of electronic payments.
As the payment and processing landscape continues to evolve, billers will increasingly need to renovate their payment processing. As a result, competition among financial institutions offering innovative ways to process payments will intensify.
Designed to address the longstanding goal of automating paper payments, Check 21 creates as many questions as answers. As competing and complementing options for automation emerge, banks and companies alike are struggling to assess how best to achieve the cost and efficiency savings that migrating from paper to electronic payments promises to deliver.
All schools have tight operating budgets these days, and you need to ensure your school spends every dollar properly. No matter the size of your school or the amount of your budget, a purchasing card program could fit with your procurement goals and — moreover — help you achieve the bigger benefits of time and cost savings.
Pressures to achieve greater efficiencies in corporate business operations are relentless. One area of particular importance, and challenge, is the automation of Accounts Payable and Receivable functions and related communications.
CLS has been effectively used by banks to mitigate settlement risk in their FX trades and has been adopted by corporate and non-bank financial institutions via CLS third party providers like JPMorgan Treasury Services.
The concept of a single European payment area is intended to reduce complexity and costs within the payments environment by creating a market where money could move as efficiently and inexpensively as possible throughout the European Union. However, progress in implementing this new efficient clearing environment has been slower than expected because there is little in the way of standards to guide this shift toward SEPA.
Lockbox continues to be the main collection method for wholesale business in the United States. But while traditional wholesale lockbox solutions tend to provide similar advantages around cost savings and efficiency gains, a few banking providers are differentiating their offerings by integrating the latest image and Internet technologies.
For high-volume billers looking to lower processing costs and gain efficiencies in their accounts receivables process, ARC allows consumer check payments sent to a lockbox or dropbox location to be converted into an Automated Clearing House (ACH) electronic debit.
There does not appear to be an obvious winner when it comes to payment options — no one size fits all. Instead, an integrated approach that adopts many different payment methods can provide a complete payables solution.
Thanks to the efficiency of our global financial infrastructure, clearing services are these days viewed as a commodity business. In other words, all treasurers expect flawless settlement of high value, cross-border treasury and commercial payment instructions every time, by all their financial institutions.
With the hype of the Internet revolution behind us, there is a renewed focus on applying technology — both Internet and otherwise — to automate for enhanced efficiency. Companies are redoubling efforts to reduce paper processes around low-value transactions using an array of options.
