New Basic Payment Instruction File Helps Organizations by Reducing
IT Complexity
MINNEAPOLIS--(BUSINESS WIRE)--Oct. 29, 2014--
U.S. Bank today announced a new version of its Access® Online
Payment Plus payment instruction file that simplifies
business-to-business electronic payment and calls for little-to-no
technology investment. The Payment Plus basic payment instruction file
transmits payment instructions from the customer to U.S. Bank though a
simple CSV (comma separated value) file that is easy to use and fast to
set up. Because it requires the completion of substantially fewer
information fields than the standard payment instruction file, typical
users won’t need dedicated IT resources to program it.
“After a couple of hours of work and a few clarifying questions with the
U.S. Bank team, the project was done,” said Mike Anderson, chief
financial officer for Lakeview Construction of Pleasant Prairie, Wis.,
one of the first users of the Payment Plus basic payment instruction
file. “Anyone who has an accounting system with basic reporting tools
should be able to create the file pretty easily. Overall, the process
was very streamlined and took very little IT time.”
The basic payment instruction file is ideal for organizations of any
size and has special appeal among middle-market customers. Removing the
need for IT support dramatically shortens the Payment Plus
implementation cycle. This allows organizations to quickly transition
from payment by paper check to electronic payments, which reduces costs
and enhances cash management.
“Now, organizations with limited IT resources can quickly and easily
gain the benefits of electronic payment through U.S. Bank Payment Plus,”
said U.S. Bank Payables Product Manager Bob Kaufman. “The basic payment
instruction file complements other Payment Plus payment instruction file
formats to offer customers more choices and get them on the road to
electronic payment faster.”
For more on U.S. Bank payment services, visit https://www.usbpayment.com/payables-solutions.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB),
with $391 billion in assets as of September 30, 2014, is the parent
company of U.S. Bank National Association, the 5th largest commercial
bank in the United States. The Company operates 3,177 banking offices in
25 states and 5,026 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. Visit U.S. Bancorp
on the web at usbank.com.
Source: U.S. Bank
Bill Brady, U.S. Bank Public Relations
(612) 303-0731, bill.brady@usbank.com