Simplify Low Value Bulk Processing and Improve Visibility of Payments
Mass Payments provides a straightforward way to meet the new low value payment processing demands from regulators and customers, enabling you to move to same day ACH and SEPA Credit Transfers – as well as offer the extended remittance information which is so critical to your customer’s business.
iGTB's Payments Engine solution, supports country specific mass payment schemes such as ACH, SEPA Credit Transfers (SCT), National Automated Clearing House Credit (NACH), Immediate and Faster Payments and much more.
Using mass payments module, you can accept ACH payments in single, batch or file instructions. ACH-specific rules have been built in to support transaction batching and clearing file generation. Cut-off time processing is incorporated for payment and settlement, with transaction validation for ACH Standard Entry Class (SEC) codes. Process vendor payments, payroll, federal tax and child-support payments are all supported; as is remittance information as per CCD+ and CTX guidelines for healthcare and invoice information.
SEPA Credit Transfers (SCT)
The mass payments module, allows you to accept credit transfers using single and bulk payments, or with standing instructions. Cut-off time processing is incorporated for payment and settlement and IBAN validation is performed for credit transfers. Send messages for credit transfers using ISO 20022 format. Validate payments sending and receiving accounts are registered with banks (or bank branches) located in a SEPA country.
National Automated Clearing House Credit ( NACH)
Using the mass payments module, you can accept files for bulk processing and allow T-1 file upload. Now process file for payment and settlement and generate inward files.
Immediate or Faster Payments
Instant processing of hgh volume and immediate payments meeting the regulatory requirements of country payment schemes for the UK, Singapore and Australia. The module is scalable to meet country-specific payment schemes for near real-time payments and can be integrated with channels and back-office systems for 24/7 near real-time processing.
“A straightforward way to meet the growing demand for low value payments from your regulators and customers”
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