The new product introduces Straight Through Payment (STP) capabilities, which automatically build and execute payment batches from Medius without relying on ERP file uploads or middleware. Payments flow directly through customers’ bank accounts, maintaining their control over cash flows while simplifying the disbursement process.
Product Features and Benefits
Medius Payments is designed to expand on the existing Medius Pay solution, supporting various payment methods such as ACH, SEPA, BACS, CHAPS, BankGiro, wire transfers, checks, and virtual cards. These functionalities are complemented by multi-currency and international capabilities, providing finance departments with a consistent and compliant way to pay suppliers globally.
Integrated approval rules, fraud detection mechanisms, and audit trails are embedded directly into the system to minimize exposure to fraud, enhance transparency, and enable fast, policy-aligned payments without additional software or manual interventions.
The seamless integration with ERP systems ensures synchronized audit trails, supporting compliance and streamlining reconciliation processes. This offers finance teams a unified view from invoice receipt to payment settlement, ensuring optimized security and efficiency.
Suppliers will also benefit from accelerated payment processing and improved remittance information, optimizing their ability to reconcile payments and manage cash flow.
About the Launch
According to the official press release, Medius’ broader strategy includes eliminating fragmentation in finance operations while providing full visibility from invoice receipt to payment settlement. This launch marks an important step towards achieving these goals by offering a comprehensive and integrated payment solution for AP automation.