Payments 101: Electronic Payments

It seems like everyone is talking about electronic payments but not everyone is taking advantage of the benefits of using this payment method. Electronic payments have proven to be less expensive than paying by paper check, can be precisely timed to manage outgoing cash flow, and have a relatively low risk of fraud (compared to checks). Yet adoption rates still lag. In this paper, we take a look at the payment options available to accounts payable departments today and examine when is the best time to use one over another.

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