Digital Payment Provider InvoiceCloud Unveils Enhancement to Online Bank Direct Solution

InvoiceCloud, a provider of digital bill payment services, made an announcement regarding its Online Bank Direct (OBD) solution. The update introduces a feature allowing billers to automatically segregate payments based on the invoice type, thereby simplifying the deposit process for their clientele.

This innovative functionality revolutionizes cash application and reconciliation procedures, resulting in expedited access to funds and enhanced financial transparency for both billers and their customers, according to InvoiceCloud.

Steve Schult, Senior Vice President of Products at InvoiceCloud, emphasized the continued dominance of financial institution Bill Pay systems in online bill payments. He stated, "Our new enhancement caters to this reality by offering unparalleled deposit control, significantly reducing manual effort and accelerating cash flow."