The Ecuadoran unit of Spain's Telefonica has the go-ahead from Ecuador's central bank to offer mobile e-money services. Movistar users will be able to make purchases through their cellphones using virtual accounts held at the central bank.
As school districts nationwide increasingly go paperless, that means a move away from accepting cash or paper checks for payments for everything from lunches to field trips and course fees. However, this article presents several questions that administrators should ask before moving to an e-payment or electronic payment portal system, such as how to select a vendor, whether to consider PayPal and whether there also should be a system for paying vendors electronically.
Most companies employ a manual, extended payment system that slows cash flow and, eventually, hurts supplier-purchaser relationships, writes Bob Cohen, Basware's vice president, North America. Companies can speed up their invoice transmission time by using a solution that combines e-invoice and e-payment, which increases traceability of invoices, prevents further payment problems and creates a "a win-win situation" for both parties, he writes. "With cash flowing more freely across the supply chain, buyers and suppliers can focus on what matters most: building their businesses and furthering their relationship in mutually beneficial ways," Cohen writes.
Increasing consumer adoption of online- and mobile-payment technologies is propelling greater attention to enforcement of cybersecurity standards, such as those from the Payment Card Industry. Yet PCI compliance has its share of challenges, and many municipalities are lagging in meeting the requirements, an industry watcher notes.
The retailer will begin accepting electronic check payments from online shoppers. The service is similar to a debit card and withdraws funds directly from a shopper's checking account; online purchasing is expected to increase 25% to $96 billion this year.