Accounts Receivable
Accounts Receivable (AR) refers to the outstanding invoices a company has or the money it is owed by customers. It represents a line of credit extended by a business, due to be paid within a short time period. Efficient AR processes are critical for cash flow management and financial forecasting. As with Accounts Payable, businesses rely on Enterprise Resource Planning (ERP) software systems to process their business payments, such as supplier bills or payroll. ERP systems such as Xero or Sage can be integrated with embedded payments such as Modulr AP, able to automate business payments at scale and help minimise fraud, reduce errors, and streamline accounting.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
