Manage your complex customer disbursement services and processes throughout the entire payment lifecycle with our FIRSTpayment
℠
solution.
With our comprehensive FIRSTpayment℠
solution, First Data can provide your business with cost-effective end-to-end disbursement services and processing. We streamline disbursement management by consolidating various operations and applications into a simplified solution designed to deliver increased savings to your outbound payment process.
The disbursement process is becoming increasingly complicated as companies look to process and track more outbound payments electronically. In fact, many companies do not recognize all of their internal costs and the amount of manual intervention involved in the management of their disbursement payments. This is compounded by the fact many companies are not aware that they can outsource the end-to-end disbursement task.
FIRSTpayment helps you simplify your management of disbursements and eliminates the need for many internal functions and multiple vendor relationships. We designed our Disbursement Management Services to integrate with legacy systems while using minimal resources. The result is a streamlined process consolidating various operations and applications into a simplified end-to-end solution that can deliver greater efficiencies and increased cost savings to your outbound payment process.
How Disbursement Management Services Works
Our Disbursement Management Services offers Payment Fulfillment with an easy file transfer of payment initiation information that conforms to your system and business rules. It offers Clearing and Reconciliation features to help ensure the most current payment status is available. You can leverage Exception Management and Reporting to facilitate stop and void payment processing, and access current data and date range reports of payments/exceptions.
Escheatment and International Payment features allow for the coordination and delivery of abandoned property to various states, and enable you to control payment accuracy and adjust payments easily.
Help Your Business:
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Manage entire disbursement lifecycle in a single web-based interface
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Fulfill outbound payments via multiple channels (check, ACH, wire, prepaid card)
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Provide real-time status of payments, refunds, and credits and simplified exception management
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Automate reconciliation and outstanding payments reporting
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Provide ease of integration to existing systems
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Manage escheatment support (compliance, reporting liability)
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Generate flexible reporting to accurately track payments by group, individual, location and date
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International disbursements can be made in up to 137 currencies to over 150 countries via First Data’s partnership with Citigroup and their WorldLink product
Help Your Customers:
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Secure and efficiently deliver funds worldwide
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Simplify outbound payments via multiple payment types
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Access real-time status of payments, refunds, and more
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Easy file transfer of payment initiation information
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Multiple payment methods (check, ACH, wire, prepaid card)
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Flexible check printing options onsite and at distributed locations
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Integrated with a clearing financial institution
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Provides images of all clearing and reconciliation items
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One interface for data retrieval and reporting
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Inquiry search capabilities on any field (account number, dollar amount, check number)
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Alert module notifies you of events requiring your attention
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Automatically generated reports with abandoned property information
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WorldLink® to simplify international disbursement services
