12:17 PM
Connect Directly

U.S. Bank to Process Electronic Invoices for Order Express' International Money Transfers

U.S. Bank and Order Express have agreed on a new deal for the bank to process electronic invoices for the international payments provider.

U.S. Bank Electronic Invoice Presentment and Payment (EIPP) will now process invoices and manage payments for Order Express as part of a new partnership announced earlier today. Order Express, a money transfer service provider between U.S. and Latin America, said in a statement that the new deal will allow it to receive and pay invoices over a secure and efficient B2B network, eliminating the cost of paper invoices and providing better visibility across the payment chain.

Both partners will also be able to check the status of an invoice and resolve issues quickly with little further investment from IT, Order Express added in the statement.

Order Express cited a report by Paystream Advisors, a research group, that said that about 20 percent of organizations in the U.S. have adopted EIPP services, and another 50 percent are either evaluating or implementing them. Studies have indicated that electronic tools like U.S. Bank EIPP can save $5-20 per invoice in processing costs, Order Express said.

[See Related: U.S. Bank Introduces EMV-Enabled Corporate Card]

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
Catherina Lucy
Catherina Lucy,
User Rank: Apprentice
2/21/2013 | 10:19:26 AM
re: U.S. Bank to Process Electronic Invoices for Order Express' International Money Transfers
We can save our time if we process electronic invoices to the customer.invoice-template
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.