2018.05.17

How to improve funds management efficiency in a fragmented payment system?

Fragmented payments results in inefficient funds management, which in turn harms financial health of business

Every business needs a timely, convenient and secure funds management solution and the demand is particularly obvious in industries that competing vigorous on offers to customers or having consistently high operational costs. Nonetheless, the rise of online commerce, global business opportunities and more complicated forms of B2B partnership has resulted in a fragmented payment system. When there are too many settlement approaches, too many payment options and too many reconciliation processes, funds management becomes a biggest challenge ever to company treasurers. Such inefficient funds management flow harms the financial health of business and can eventually kill company’s any business expansion possibility.

 

Every part in an entire payment chain needs to be streamlined in order to achieve efficient funds management

Despite of an enormous variety and complex business environment, we still see some general funds management demands across different markets, including:

  • Real-time overview of funds and balances
  • Accurate, efficient capital administration
  • Consolidated, streamlined cash flow
  • Easy, resource-saving reconciliation and payment processes
  • Fast and easy connection to global pay-in and payout
  • Intuitive, flexible customer and bank account management system
  • Connection to payment-related services such as fraud and risk management.

 

In most companies, usually the sectors of banking technology solution, user account management, payment gateway, risk management and acquiring for cards and other payments are separated. The fragmented sectors will not only weaken the overview over cash flow, but also consume longer time and higher cost on managing funds. As a result, an integrated solution, which covers the entire payment chain, supports digitalized transaction reconciliation and real funds movements, is particularly important for streamlining internal treasury processes in order to make businesses highly transparent and flexible. When applying such solution to an industry, it will require expertise knowledge in payment & finance, technology, legal & compliance and deep understanding of that specific industry. Usually, many companies are expertized in their own industry, but have limited knowledge in payment technology and related compliance.

 

UniCard provides integrated payment solutions to enable efficient funds management

Being an authorized technology provider and payment professional, UniCard compensates the lack of payment knowledge and provides integrated technological payment solution to companies. Our solution is able to fulfill the aforementioned general funds management demands with following features:

  • We support small amount, fragmented and frequent B2B transactions
  • We are a authorized MasterCard prepaid card issuer and connect clients to global banks and merchants through MasterCard network
  • We customize one-stop electronic platform for real-time account management, digital payment and automated reconciliation for business to centralize all payment and financial operations
  • We got Store Value Facilities (SVF) license for client to run their generic prepaid card or e-wallet that meet compliance and connection requirements and are inherently compatible with banking infrastructures

Through applying UniCard’s integrated payment solution, the complex billing and payment structures will become simple to manage and reconcile. Companies require only a single point of contact to payments all around the world, therefore saving the expenditure of time and resources for advanced and real-time cash flow management.

 

Conclusion

An integrated, advanced payment solution benefits companies from a time-and resource-saving reconciliation, flexible working capital, and efficient funds management, therefore enabling companies on further growth and prosperity.




Comments