Electronic payments.Best Software plans to begin offering electronic bill payment this month through the company's partnership with Metavante Corp., beginning with the release of Peachtree Peachtree can be several things:
"We know that cash flow planning is an integral component for the success of our customers' businesses," said Jim Portner, vice president of product management, Small Business Division accounting solutions, for Atlanta-based Best. "The addition of online bill pay will expand our customers' ability to pay vendor bills and invoices and track cash flow directly from within Peachtree. This added functionality will provide our customers with a secure, easy to use and time-saving solution." Using the new Peachtree Bill Pay functionality, small businesses will have the ability to set up payment of bills electronically without the need to switch banks. Integrated into Peachtree 2006, the bill pay functionality electronically transfers users' payments from their financial institutions to the payee The person who is to receive the stated amount of money on a check, bill, or note. payee n. the one named on a check or promissory note to receive payment. PAYEE. The person in whose favor a bill of exchange is made payable. on the date specified using the automated clearing house See ACH. (ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to ) network. Because security is a top concern, Peachtree Bill Pay uses secure processes that banks and other financial institutions use to transmit To send data over a communications line. See transfer. data. All customer data is transmitted using industry standard encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. technology. Metavante's bill pay engine processes millions of payments every month. Peachtree Bill Pay will be available for $15.95 per user and includes up to 20 payments a month. Each additional set of 10 payments will carry a charge of $6.95. Web: www.bestsoftware.com/moreinfo |
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