Many companies still have difficulties with their financial operations. Manual work, mistakes in bank data, duplicated payments, and high costs, generate customer dissatisfaction and loss of credibility among business partners.
In this post, we will discuss the most common payment failures in third-party payments and a few solutions to minimize these errors.
The rejection of payments to suppliers and service providers has an immense impact on companies. The lack of qualified banking data and manual procedures cause many transactions to be refused or wrongly executed, which affects the business' reputation.
Another problem caused by the excess of manual procedures is duplicate payments. It is rough for the company's monthly cash flow and indirectly affects the delay of other other payments.
If your company suffers from rejection problems or duplicate payments when processing your cross-border payments to Brazil, know that there is a dynamic and efficient solution: WePayOut's Bank Information Validation. To learn more about the benefit, please save the following article to read after this one: James Delivery relies on WePayOut's Bank Information Validation.
Delay in confirming third-party payments
You may be jeopardizing the trust and relationship with your beneficiaries by not adopting modern payment methods to your company's beneficiaries.
PIX, the new instant payment method created by the Central Bank of Brazil, is an alternative to increase the speed in the payments to your beneficiaries, when disbursing funds in Brazil.
Using PIX with WePayOut solutions and API integration, the money will reach your final beneficiary within seconds.
Internal fraud and access to company bank accounts
It is a mistake that companies want to (and should) avoid at all costs: access to financial operations by a third party, whether directly connected to your business or not.
There is a growing concern to protect companies from unauthorized access. Sharing master passwords and tokens does not decrease this risk. With WePayOut solutions, double authentication is required for accessing the platform, and each employee has an access level.
With the WePayOut system, you are not at risk of internal fraud and can start processing payments in Brazil with the blin of an eye.
You can learn about the security guaranteed in our processes in this post.
All in one platform
Your company's trust, credibility, and international payments may be a risk by one or more of the three items above that may not even have been on your radar.
WePayOut specializes in managing and processing high volume of payments to third parties in Brazil
Take advantage of WePayOut's innovation and integrate the PIX payments solution via API.
Do you want to learn more about how we can help prevent failures and delays from hindering your company's growth?
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