Wells Fargo has launched a new end-to-end payment solution that allows corporate customers to electronically initiate payments and remittance to their trading partners over multiple delivery channels.
Payment manager with electronic document delivery (EDD) connects a company's internal systems with a bank's. Payments can be delivered via the automated clearing house (ACH), wires (domestic and international) and cheques with the remittance information provided via e-mail attachment, data transmission or fax.
Debbie Ball, senior vice president at Wells Fargo wholesale services group, says: "In the past, companies were limited to only the trading partners that could accept electronic data interchange (EDI) payments with remittance advice. With Wells Fargo's solution, businesses can now reach out to both their technically sophisticated and less advanced trading partners to better meet their business needs."