S1 remittance standard to enable B-to-B processing

S1 remittance standard to enable B-to-B processing
Tags: Bank / Credit Union, Cash Dispenser / Recycler / Acceptor, Debit / Credit, EFT Networks, Postilion, Retail / Off-Premises, Transaction Processing, Trends / Statistics
October 10, 2006

NEW YORK - S1 Corp., provider of financial and payment-services-software solutions, is incorporating the EPN STP 820 remittance information standard into its cash-management solution, S1 Enterprise Corporate Banking.

The EPN STP 820, developed by Electronic Payments Network, facilitates business-to-business electronic-payments processing. The standard allows corporate trading partners to transmit detailed remittance information with their ACH payments and allows recipients to automatically record the transactions into their internal accounting systems.

The EPN STP 820 standard is supported by NACHA and the Association of Financial Professionals.