Key Features of Medius Payments
The new solution is expected to deliver Straight Through Payment (STP) capabilities, which allow for the automatic creation and execution of payment batches directly from Medius. This innovation minimizes reliance on ERP uploads or middleware, as it routes payments through customers’ existing bank accounts. Consequently, this streamlines disbursements while maintaining control over cash flow.
Furthermore, Medius Payments is designed to address evolving client needs by embedding approval rules, fraud detection mechanisms, and audit trails into the system. These features are intended to minimize risk exposure, enhance visibility, and ensure compliance with regulatory requirements without necessitating additional software or manual processes.
Benefits for Customers
The integration of Medius Payments with customer ERPs ensures a synchronized audit trail that supports compliance efforts and streamlines reconciliation processes. Finance departments can now manage payments more securely and efficiently while maintaining an optimized system. Suppliers also benefit from faster payment processing and improved remittance information, which aids in better cash flow management and reconciliation.
Overall, the launch of Medius Payments is part of the company’s broader strategy to unify finance operations, providing a consistent approach for paying suppliers across various regions including the United States, Europe, and other global markets. This includes support for multiple payment methods such as ACH, SEPA, BACS, CHAPS, BankGiro, wire transfers, checks, and virtual cards.
