Building Optimal Bill Payments Environments: Strategies for Managing Payments Types, Compliance and Risk
Key Payments Processing Practices from 3 Point Alliance
Payments processing is a complex business function but never more so than in today’s rapidly changing payments landscape where explosive innovation in technology — from cloud computing to M-payments to Payments as a Service apps – and an increasing amount of new rules and regulations designed to improve the payments industry as a whole are defining future payments strategies.
This paper explores how billers can succeed in a challenging payments environment:
- Understand what to look for in a third-party payments provider
- Are you really achieving payments processing economies of scale? Do you have an enterprise-wide way to evaluate cost-per-item?
- What are your remittance processing exceptions handling costs?
- Are aging and legacy processing equipment and systems creating hidden costs or risks that you are not aware of?
- Do you have a process in place to monitor and implement new payments rules and regulations?
- Every payments type carries some risk. What happens in a multi-payments environment where the risk is incremental, or unknown?
- Find out if your payments processing function has reached the tipping point and should be outsourced.
- More and more executives report they are pro-actively investing in these key areas: Business continuity, disaster recovery, business intelligence, and compliance expertise and maybe you should too.
3 Point Alliance
Founded in 1990, 3 Point Alliance has been a leading provider of end-to-end remittance processing solutions that exceed industry quality standards and reduce processing costs by streamlining payment operations.