How Lockbox Services Cut A/R Processing Time in Half
The pace of B2B payments keeps shifting, yet one thing hasn’t changed: Checks still slow down accounts receivable (A/R) teams far more than expected. Mail float, manual sorting, and basic data entry add days to the cash cycle. Rising check-fraud attempts make the process even riskier. Lockbox services centralize incoming payments, digitize check data, and […]
What Is Lockbox Payment Processing? Why Banks and Businesses Still Rely on It
Checks may seem outdated until you examine the numbers. According to the 2024 AFP Payments Fraud report, approximately 75% of U.S. businesses still accept checks, and nearly 70% stated they do not plan to stop anytime soon. That includes everything from regional hospitals to nationwide B2B firms. Meanwhile, check fraud has surged, with 63% of […]