Vault’s Post

Business owners are already strapped for time as it is. They shouldn't have to also be payments experts as well. Excited to roll out our Invite a Recipient feature. The flow is quite simple: 1. Receive an invoice from a vendor 2. Send the vendor a secure link asking them to input their own payment details 3. Get notified once the recipient has been created and ready to pay Why would a vendor take the time to create themselves as a recipient for you? Because they want to get paid faster. I'm expecting this to be a big time saver for the thousands of businesses relying on Vault.

Bad actors are using increasingly sophisticated deceptive practices to manipulate buyers into unwittingly directing payments to their accounts. Making matters worse, traditional processes for verifying bank account changes are likely to leave your organization vulnerable to fraud. Stay ahead of the bad actors with best practices for verifying bank account ownership. VendorInfo’s onboarding and compliance portal can help you: ... Automatically verify bank account ownership for new vendors or vendors changing their banking details ... Validate that the bank account is open and in good standing ... Avoid fraudsters attempts to get access to your money Learn more about how VendorInfo’s automated bank account ownership verification solution can help your organization at www.vendorinfo.com.

When it comes to vendor banking information, customers tell us ... due to increased cyber-risk, bank account ownership verification has become a best practice. But … procedures for verifying banking information are inefficient, including phoning the vendor, requiring confirmation letters from vendors’ banks, obtaining voided checks and confirming known information. Vendor bank account information is usually received by email, but, also due to increased cyber-risk, collecting bank account information by email is less viable today than in the past. Now, with VendorInfo’s bank account verification module, you can put a stop to tedious, time-consuming procedures, reduce risk and eliminate data entry. Vendors can complete bank account information online, eliminating email risk and data entry. Bank account ownership is automatically verified against:: ... Account Name ... Street Address ... City ... State ... Zip Code ... Bank Account Number ... Routing Number ... Tax Identification Number VendorInfo’s Bank Account Ownership Verification helps organizations: ... Authenticate the owner on an account prior to sending a payment to that account. BAV is built upon BNY Mellon’s Account Owner Validation capability and Early Warning’s Account Owner Authentication. ... Validate that an account is open and in good standing prior to sending a payment. ... Pre-validate not only ACH transactions, but also wires and RTP transactions. ... Receive a real-time response within seconds, not days. Are you ready to automate bank account ownership verifications? If so, email [email protected] or visit www.vendorinfo.com.

Fighting the chargeback dragon is key to profitability! Chargeback management is a key level to drive profitability of card issuers, payments processors and merchants. There is a clear need to minimize the impact of chargebacks costs and adhere to the timelines of the process. Fighting the chargeback dragon is key to profitability as we see increased disputes & regulatory focus on this space.    The ultimate goals of a good chargeback process are to prevent chargebacks where possible, contest frauds and maintain an acceptable chargeback ratio. Given the steps in the process (representation, acknowledgement, pre-arb, arbitration etc.), multiple parties (customer, acquirer, network, merchant etc.) having an efficient process management system is needed to scale and handle growth at both sides of the play - issuance and acquisition. Some of the key challenges in Chargeback Management Solution, include : • Manual & email communication throughout the Chargeback process • Lack of visibility on status & documentation of disputed transactions • Lack of audit trail of actions or history, thus lower success rate • Broken analytics preventing learning from previous chargebacks • Long TATs & SLAs leading to poor merchant & cardholder experience New-age Chargeback management solutions address these key tenets: Streamline workflow & documentation management: o Automate case management o Centralized repository for evidence o API integration with Card Mgmt, Settlement & Communication Dispute resolution & representation: o Default note / text o Network specific representation o Automate rebuttal submission Reporting and analytics: o Chargeback tracking & reporting o Merchant-specific metrics & risk assessment o Regulatory extracts Acquirers and Issuers could significantly benefit from implementing a modern chargeback management to improve bottom-line, build long term value with customers and merchants, reduce chargeback losses, induce operational efficiencies and gather valuable data insights for improving their business. #chargebacks #merchantservices #cardprocessing #riskmanagement #paymentsinnovation #fraudprevention

When it comes to vendor banking information, customers tell us ... due to increased cyber-risk, bank account ownership verification has become a best practice. But … procedures for verifying banking information are inefficient, including phoning the vendor, requiring confirmation letters from vendors’ banks, obtaining voided checks and confirming known information. Vendor bank account information is usually received by email, but, also due to increased cyber-risk, collecting bank account information by email is less viable today than in the past. Now, with VendorInfo’s bank account verification module, you can put a stop to tedious, time-consuming procedures, reduce risk and eliminate data entry. Vendors can complete bank account information online, eliminating email risk and data entry. Bank account ownership is automatically verified against:: ... Account Name ... Street Address ... City ... State ... Zip Code ... Bank Account Number ... Routing Number ... Tax Identification Number VendorInfo’s Bank Account Ownership Verification helps organizations: ... Authenticate the owner on an account prior to sending a payment to that account. BAV is built upon BNY Mellon’s Account Owner Validation capability and Early Warning’s Account Owner Authentication. ... Validate that an account is open and in good standing prior to sending a payment. ... Pre-validate not only ACH transactions, but also wires and RTP transactions. ... Receive a real-time response within seconds, not days. Are you ready to automate bank account ownership verifications? If so, email [email protected] or visit www.vendorinfo.com.

The Power of Proactive Chargeback Management Despite our best efforts, chargebacks remain a persistent thorn in the side of many businesses. However, with the right strategies and tools, we can turn the tide in our favor. One such game-changer is chargeback management software, a tool that not only reacts to chargebacks as they come but helps prevent them in the first place. Here's why it's a must-have: 1. Automatic Dispute Responses: Tailor automatic responses based on specific chargeback reasons, saving precious time and resources. 2. Insightful Reporting: Track patterns and identify common reasons for chargebacks, enabling targeted preventive measures. 3. Real-Time Alerts: Stay ahead with instant notifications, allowing for immediate action on potential threats. Adopting proactive chargeback management doesn't just reduce the number of disputes; it enhances the overall customer experience by identifying and resolving issues before they escalate. Are you equipped to tackle chargebacks head-on, or is it time for a strategic upgrade? Let's share best practices and insights on turning this challenge into an opportunity. #ChargebackManagement #PreventiveStrategies #PaymentSecurity

Understanding Merchant Accounts: A Comprehensive Guide for Businesses https://lnkd.in/gTV7tciR #fintech #paymentsolutions #merchantaccounts #financialservices #digitalpayments #businessgrowth

Reg E. - Learn how prioritizing prompt action can enhance customer satisfaction and protect your financial institution’s reputation against fraud and excessive chargeback costs. Timely reporting isn't just a best practice; it's a regulatory requirement. #RegE #RegEcompliance #FinTech #FIntegrate #Chargebacks #Regulatory

Instead of spending significant time and effort manually reconciling payments, stop wasting time and try this instead. Implement automated reconciliation features in payment processing services to save time and ensure accuracy in financial records. This is important because it will optimize your online and offline payment options for your small business and provide personalized customer support. By optimizing your merchant services, you'll achieve automated reconciliation and strengthen security measures, protecting your customer data and building trust.

With real-time fraud detection and prevention mechanisms, users can trust in the integrity of their transactions. The intuitive interface simplifies integration, making it effortless for businesses to incorporate secure UPI payouts into their applications. Whether it's salary disbursements, vendor payments, or refunds, our API ensures swift and tamper-proof financial transactions, providing peace of mind for both businesses and users alike in the dynamic digital payment landscape #mpluse