Some of the benefits include an end to paper trails for billing, virtual cards for faster payments, online marketplaces for reaching new customers and more.
In eight months, we reached a milestone that hasn't been done in more than 40 years: an approved effectiveness criteria for faster payments.
Software developed by a company called SplitTheDifference makes proposals on behalf of insurers, relying on algorithms to gauge what discount a doctor might accept in exchange for a faster payment.
Implicitly, the criteria is a new lexicon for payments in the 21st century, providing a glimpse into the functionality, capability and benefits needed for economic participants (including, "you, the reader") to confidently understand, discuss and plan for a faster payment infrastructure.
The supervisors, 10 of them current employees and one recently retired, approved invoices for work that was unnecessary or was never performed, or guaranteed faster payment for work that was performed, in exchange for the kickbacks, federal prosecutors said.
Explicitly, the 31-page, 9,500-word document: 1) represents the desires and expectations from payment stakeholders for a faster payments system, and 2) will serve as a rubric for system proposals to satisfy during the next phase of the initiative.
A former construction official for the Port Authority pleaded guilty yesterday in federal court to taking bribes in return for arranging faster payments from the authority to an environmental-testing contractor.
You promised fair and fast payments.
Typically, as a company's working capital declines, its suppliers become nervous and begin to demand faster payment for goods.
