Videocast Payment Gateways Part 2

After our last month’s videocast, where Martin Schneider explained the advantages of payment gateways and what they involve, treasurers wanted to know the cost of such a project.

From among the various questions readers posed, the most frequent comment was: Isn’t Swift expensive? Martin’s answer: “Look at it this way! If you buy a Mercedes and use it only to drive to the bakery, it’s expensive. It’s the same with payments. Payment gateways that involve all payments group wide and are used for letters of credit and/or guaranties really are the optimal solution. If your company uses letters of credits and/or guaranties, these processes can also be automated directly to your ERP. Therefore additional savings are guaranteed.

In the videocast part 2, Martin talks about one-time project cost as well as recurring cost. He uses the cost of two projects he helped with in 2015 to demonstrate. Now in 2016, another project confirms that his 2015 estimation is correct. Gain transparency at headquarter, reduce possible fraud at the local e-banking, improve financial flows process throughout the group, and gain an improved workflow with the internal control system.

Watch and listen to Martin Schneider’s videocast (time 3:13 mins).

As additional information: Discover the advantages of making group-wide local payments via a decentralized payment factory on our website as PDF.

Also, IBM has published a white paper Faster payments: Three steps to a modern commercial payments system – How banks and financial institutions can streamline payment processing for greater visibility, agility, compliance and operational efficiency.