With the new payments solution, iPayables streamlines the overall payments process, working with customers and their suppliers to facilitate the optimal payment method for each supplier. iPayables partners with banks, check printers and card networks to facilitate the payments for its customers so that payments become automated.
A main feature of the payments solution is the ability to issue virtual card payments. The virtual card generates a single-use card number for each transaction. iPayable’s solution provides built-in and highly customizable authorization controls, including electronic remittance and invoice data, transaction limits, spending parameters as well as supplier-locking.
Once a payment method has been chosen by the supplier, iPayables automatically calculates the dynamic discount amounts, rebate fees, or check amounts and creates the actual payment vehicle.
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