ELECTRONIC PAYMENT PROCESSING NEW TOOLS AND TECHNOLOGY

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1 ELECTRONIC PAYMENT PROCESSING NEW TOOLS AND TECHNOLOGY Matt Fluegge Dean Middleton Dan Sollis National Acct. Executive President, UTA Executive VP

2 TODAY, YOU WILL LEARN ABOUT: ACH GATEWAY CREDIT CARD GATEWAY REMOTE DEPOSIT CAPTURE EBPP VIRTUAL LOCKBOX REPORTING TOOLS

3 THE 3 MOST IMPORTANT THINGS FOR A CREDIT MANAGER REGARDING AN EXISTING OPEN ACCOUNT PORTFOLIO 1 DSO 2 DSO 3 DSO

4 ACH GATEWAY

5 BENEFITS Increase the ability to get paid when performing collection calls Improve your A/R aging Reduce your DSO Reduction of traditional lockbox and other bank fees Enable batched deposits Integrated reporting enabling auto cash application & auto posting Accelerated returns notification; NSF s discovered earlier Schedule future or recurring transactions Electronic transactions take precedence over paper checks Eliminate lengthy wait time associated with mail services, fax checks, and traditional lockboxes Significantly lower cost than credit card processing fees

6 TURNKEY SOLUTION ACH Gateway enables you to receive funds from your customers almost instantaneously in a secure internet environment. Convenient - An ACH transaction can be processed over the phone or internet. Secure - As ACH transactions are designed to occur automatically and electronically, they dramatically lessen the amount of people who can access the personal information. Furthermore, the electronic nature of ACH transactions means that the records cannot be stolen, lost or misplaced in the mailing system. Reduces Costs - ACH payments are substantially cheaper than accepting a credit card payment over the phone. The Office of the Comptroller of the Currency estimated that a traditional paper check transaction costs five times as much to process as the same transaction processed through the ACH. Access to Funds - Accelerated funds availability, usually within hours. No need for time-consuming and expensive integrations.

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8 SCHEDULED PAYMENTS

9 CREDIT CARD GATEWAY

10 CREDIT CARD GATEWAY Obstacles Opportunities Pricing Convenience Compliance Configuration of acceptance

11 Payment System Roles & Responsibilities Three key entities manage the payment system: Issuers: Issue cards Assume buyer s credit risk Generate reports Provide customer service Networks: Provide systems/operations Develop products Provide risk management Offer advertising and promotions Set standards and rules Acquirers: Sign up merchants Underwrite merchant risk Provide processing Handle authorization Manage Capture/Settlement Generate reports Provider customer service 11

12 Fee Breakdown Interchange Network Assessments & Other Fees Processing Fee 12

13 Interchange Management What is the Interchange Fee? The largest cost component of a merchant transaction Collected by Acquirer from the merchant for every Visa, MasterCard, and Discover transaction. Passed through Visa, MasterCard, and Discover to the card Issuer. NOTE: Does not include other network pass-through fees such as those for Dues & Assessments, Network Access & Brand Usage, Acquirer Processing, Network Settlement / Base II, Risk, etc. 13

14 Fee Breakdown $500 Visa B2B Transaction $ $ $0.001 $0.04 Interchange (2.10% + $0.10) $ $1.25 Visa Base II Fee Tran Fee Comm/Gateway Fee Total Cost = $12.46 $10.60 Visa Acq. Proc. Fee Visa Assessment Visa Risk Fee Interchange represents 85% of the cost of this transaction. *Based on Average Ticket currently qualifying for the Visa Commercial B2B Business Card rate effective April 2015

15 Interchange Management Fees are influenced by 3 key considerations Market Segment Processing Technology Card Products B2B Travel & Entertainment Fuel Grocery Other Retail Recurring Payments ecommerce Restaurants Emerging Market Card Terminal POS Software Systems Virtual Terminal Automated Fuel Dispenser (AFD ) Key Entry Emerging Technology Consumer Cards Credit Debit Rewards World Signature Commercial Cards Purchasing Business Corporate Fleet 1

16 Visa Business Card Not Present Transaction With AVS (Address Verification) 2.10% + $0.10 Without AVS and Level II data 2.95% + $ % Downgrade 16

17 Interchange Management Incentive Interchange Programs Commercial Cards Level II / III Commercial Cards Large Ticket Savings Opportunity: Decreased expense Increased profit 17

18 Commercial Card Data Levels Level 1: Card number, expiration date, location information, Tax ID, AVS Level 2: Customer Code Sales Tax Indicator Sales Tax Amount Tax exempt transactions cannot qualify for Level 2, but they can qualify for Level 3 Level 3: Line Item Detail invoice data such as quantity, description, dollar amount. This is not a comprehensive list of level 3 data requirements. The greater amount of data provided, the lower the interchange rate. 18

19 PROCESSING LEVEL QUALIFICATION CHART Good Better Best! Data Type Level 1 Level 2 Level 3 Level 1 transactions are your standard transactions with just minimal data. The card holder is using a personal or commercial credit card. Level 2 transactions are taxable card transactions, with a customer code on purchasing card transactions. Level 3 transactions are available on MasterCard commercial cards and Visa purchasing and corporate credit cards. Level 1 & 2 transactions can be processed through a standard credit card terminal or PC processing. Level 3 transactions require special software to transmit the extra information required to qualify the transaction.

20 Interchange Rate Examples Visa Purchasing Card: Purchasing Standard 2.95% + $0.10 Purchasing Card Not Present (tax exempt) 2.65% + $0.10 Purchasing Card Present (tax exempt) 2.50% + $0.10 Purchasing Level II Rate (taxable) 2.05% + $0.10 Purchasing Level III Rate 1.85% + $0.10 Purchasing Large Ticket Rate: 1.45% + $35.00 MasterCard Business Card: Business Standard 2.95% + $0.10 Business Data Rate I (tax exempt w/ no L3) 2.65% + $0.10 Business Data Rate II (taxable) 2.00% + $0.10 Business Data Rate III 1.75% + $0.10 Business Large Ticket Rate: 1.20% + $

21 Sample Transaction Costs: Interchange Expense Visa Purchasing Card: $500 transaction Purchasing Standard (minimal data): $14.85 Purchasing CNP (tax exempt, w/out Level 3): $13.35 Purchasing Level II Rate (taxable): $10.35 Purchasing Level III Rate: $ % reduction in cost by processing Level III data versus minimal data. MasterCard Business Card: $500 transaction Business Data Rate I (Level I): $13.35 Business Data Rate II (Level II, taxable): $10.10 Business Data Rate III (Level III): $ % reduction in cost by processing Level III data versus Level I 21

22 Large Ticket Interchange Expense Visa Purchasing Card: $50,000 transaction Purchasing Standard (minimal data): $1, Purchasing CNP (tax exempt, w/out Level 3): $1, Purchasing Level II Rate: $1, Purchasing Large Ticket Rate: $ % reduction in cost by processing Level III data versus minimal data. MasterCard Business Card: $50,000 transaction Business Data Rate I (Level I): $1, Business Data Rate II (Level II): $1, Business Large Ticket: $ % reduction in cost by processing Level III versus Level I data 22

23 Large Ticket Example MasterCard Business L4 Card: $39, transaction Data Rate I (tax-exempt) 2.96% + $0.10 $1, Data Rate II (taxable) 2.31% + $0.10 $ Large Ticket (level III) 1.51% + $40.00 $ % reduction in cost by processing Level III versus Level I data $ Savings 23

24 B2B COMPANY: PROCESSING FEE SUMMARY Current NACM Program Savings Account 1 - Sept. $87, $61, $25, Account 1 - Oct. $63, $45, $18, Account 2 - Sept. $3, $2, $ Account 2 - Oct. $2, $2, $ Account 3 - Sept. $3, $1, $2, Account 3 - Oct. $6, $2, $4, TOTALS $167, $116, $51, * EFFECTIVE RATE 3.14% 2.17% $5,347, Effective rate = fees divided by Visa/MC/Discover Sales Visa/MC/Disc Sales AVG. MONTHLY SAVINGS $25, % TOTAL ANNUAL SAVINGS $310, SAVE 24

25 Level 3 Impact Without Level 3 Data on tax exempt payments, merchants are paying on average 0.25% to 0.90% more than they could be on every Level 3 capable commercial card transaction. 25

26 Changes to Commercial Card Interchange Interchange Fee Program Every card type/category is increasing by 0.00% to 0.45%, Except Level III qualified cards Visa Corporate Through 10/17/14 Visa Purchasing Effective October 18, 2014 Visa Corporate and Visa Purchasing Commercial Electronic 2.75% + $ % + $ % + $0.10 Commercial Non-Travel Level III 1.95% + $ % + $ % + $0.10 Commercial Business-to Business 2.10% + $ % + $ % + $0.10 Eliminated in April 2015 Eliminated 4/15 Commercial Retail / Card Present 2.10% + $ % + $ % + $0.10 Commercial Card Not Present 2.20% + $ % + $ % + $

27 ,

28 REMOTE DEPOSIT CAPTURE

29 REMOTE DEPOSIT CAPTURE 1 2 3

30 ACH VS. RDC Subject ACH RDC What are the differences between ACH and RDC? Paper check payment is converted to an ACH electronic payment. This works as follows: Paper check is tendered for payment. Payee adds payment amount and name of payee, then transmits data through the ACH Network to debit customer s account. In ARC, the check is destroyed after conversion; in POP, the check is returned to the checkwriter at the time of payment. These transactions flow through the ACH Network. Paper check payment is imaged; the image is later converted into a substitute check. The substitute check is used in the paper check collection system. This works as follows: Paper check is captured and converted into a digital image. An FI the reconverting bank uses the digital image to create a substitute check, which is a paper reproduction of the original check (front and back). The substitute check must bear this legend: This is a legal copy of your check. You can use it the same way you would use the original check. These transactions do not flow through the ACH Network. Enabling legislation or NACHA Operating Rules Check Clearing for the 21st rules Century Act When service began POP: 1999 / ARC: 2002 October 28, 2004 Authorization required from check writer to convert or truncate Biller or retailer obtains authorization from check writer to convert checks None.

31 MOBILE APPLICATION: RDC & CREDIT CARD Ability to process payments outside of your traditional POS environment Take images of checks with the camera on your own ios or Android device Accept personal or business checks from virtually any customer Accept credit card payments from your mobile phone/tablet

32 ELECTRONIC BILL PRESENTMENT & PAYMENT

33 ELECTRONIC BILL PRESENTMENT & PAYMENT Outsource your billing functions and realize: Savings of 25% to 50%, or more Improve DSO by 4-10 days, or more Reduce labor and material costs Improve customer satisfaction Improve overall efficiencies

34 Funds are transferred and reported to Merchant s bank account. 6 Posting of Remittance and Payment Transfer for automated Cash Application 1 Data Transfer Basic file from your accounting system Merchant gathers billing data file to transmit to payment processor. Transaction processed via payment gateway. 5 Payment & Remittance Processing ACH & Credit Card with level III Security & Compliance Marketing Options Data Conversion for SQL Processing and parsing to your custom documents 2 Data conversion for online archive presentment on a custom built website or print-to-mail process. Customer visits online archive to review bill and submit payment. Website Access Customer selfservice Presentment & Payment 4 Delivery of Bills Print & mail, fax, and web portal 3 Paper/ /Fax

35 VIRTUAL LOCKBOX

36 VIRTUAL LOCKBOX Straight-through Automated A/R Processing: Greatly expedites payments and deposits Automatic posting to your A/R Uses state of the art character recognition Search just like using your favorite web search tool Virtually eliminates human error 85% - 90% capture rate Significant reduction of traditional lockbox fees

37 VIRTUAL LOCKBOX Straight-through Automated A/R Processing:

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42 BLUEPRINT FOR A UNIVERSAL AR AUTOMATION PLATFORM A single system that can process any type of payment from any channel One hub for viewing all past and current AR Payments One hub for implementing AR payment rules regardless of payment type or channel Ability to implement very quickly without changes to your existing applications Offered in a SaaS model requiring little upfront investment pay for itself out of savings

43 SUPPORTING DIFFERENT PAYMENT OPTIONS Cash: tracking and posting to AR Check capturing at the point of presentment ACH with authorization Credit Card- with support for Level 2 and 3 data Wires Online payments The future Bitcoin and beyond

44 REPORTING TOOLS

45 REPORTING TOOLS On Demand Reporting 1. Web Based Online 2. Export Data CSV PDF Excel Custom Reports Automated Reporting 1. CTX EDI API XML Interface 3. SFTP File Delivery

46 OVERVIEW: ACH GATEWAY CREDIT CARD GATEWAY REMOTE DEPOSIT CAPTURE EBPP VIRTUAL LOCKBOX REPORTING TOOLS Agnostic to your banking relationship Integrated or on-demand hosted solutions available Needed for your portfolio TO BE MORE SUCCESSFUL!!!

47 QUESTIONS & THANK YOU!! Dean Middleton (786) Matt Fluegge (608) Dan Sollis (630)

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