Before this course, the transition to electronic payments might seem daunting, with challenges in implementation and fraud prevention. This course, instructed by Mary Schaeffer, acts as a bridge to mastering electronic payments in an increasingly digital world. After completion, participants will transition from uncertainty to proficiency in managing electronic payments. You'll learn how to create and grow an ACH payment program, effectively switch suppliers to electronic methods, and understand the intricacies of wire transfers and Instant Payments. The course also empowers you with strategies to combat the growing issue of electronic payment fraud, integrating best practices into your payment processes. This transformation equips you with the expertise to navigate the electronic payment landscape confidently, ensuring secure, efficient, and cost-effective transactions for your organization.
Learning Objectives
Learning Objectives:
After Completing this Course, you will be able to:
Identify the reasons why paying electronically benefits an organization
Pinpoint issues to be considered when setting up an electronic payment program
Create a basic ACH payment program for an organization
Build an effective strategy for converting suppliers to the program
Identify effective strategies to grow your ACH payment program
Develop an effective strategy for converting suppliers to the program
Understand the different types of payment fraud currently being perpetrated
Develop an effective strategy to combat electronic payment fraud
Develop a Best Practice ACH payment initiative
Avoid worst practices as well as hidden pitfalls when setting up an ACH payment program
Develop solutions to deliver remittance data to suppliers
Understand the work done by the Federal Reserve and the Business Payment Coalition to address the remittance issue
Develop a best practice approach to using wire transfers
Integrate fraud detection techniques into everyday procedures for making payments
Identify instances where ACH payments can be used in place of costly wire transfers
Understand how Instant Payments Work
Develop a fraud protection plan to prevent criminals from defrauding you using your Zelle account
Major Topics
How ACH payment work
Protection against ACH fraud
Best and worst ACH practices
Wire Transfers
(Instant Payments)- Real Time payments
