Automate Credit Apps & Invoice Payment

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Arm your B2B Accounts Payable Teams with CustomerConnect, a technology platform providing secure automated tools that run credit reports, invoice accounts and complete timely payments keeping your balance sheet healthy. Backed by our Level 3 service, you won’t be waiting for incoming payments much longer.

CustomerConnect unifies customer credit applications, invoicing, payments and settlements into a single process. The result is that all invoices get paid on the day they are due, giving businesses improved reliability in their cash flow management.

 
 
 

Benefits:

  • Verify critical "Know Your Customer" (KYC) information including OFAC, "Taxpayer Identification Number Check" (TINCheck), customer credit worthiness, and bank account ownership
  • Create secure tokens for ongoing authorization for credit card and bank account payment
  • Automate invoices & customer payments in accordance with payment terms
  • Immediately improve your cash flow and lower receivables
  • Alternately, this solution could be used to solely verify the Client’s credit information
  • Register now and your $39.95 a month subscription will include one free credit check every month for your first year, a $599.40 value

How it Works

Customer Credit Checks – Know Your Customer (KYC)

Access credit checks to verify your customer’s credit worthiness. You can choose what size bundle you would like to purchase and keep track of the number of credit checks you have available in the top right corner.

Complete Credit Checks Only (No Automated Payments)

You will have the option to run a credit check only without implementing automated payments. This is beneficial when you want to understand a potential client(s) credit history. Simply click on the "Clients" tab to begin running a credit check. From here, click the blue "Add" button. Once that is selected, a window will pop up to input the new client information.

Entering the company name is optional. You are only required to provide either the email address or mobile number of the company you wish to verify, then select "Yes" to Run credit check only. Click "Send Email" or "Send Text".

Then, your potential client will receive an email or a text that reads:

"<<Your Company Name>> wants to thank you for your recent inquiry. Click here to fill out the credit check application."



Credit Checks with Automated Payments – End-to-End Solution

Our system allows for an easy, end-to-end process from credit checks to getting paid.

To automate invoices & payments with your credit checks, you must first set your terms. To add and edit terms for your credit checks, navigate to the "Terms" tab.

From here, the first terms you set are the payment date for checks for both "Passing Credit Scores" and "Failing Credit Scores". These terms then become your default settings related to those scores.

Below the passing/failing credit terms settings, you can choose to allow your contacts to opt out of automated payments. If they choose to opt out, they become a Verified Contact.

As an Admin, you can also choose to allow your Portal users to edit the terms of your credit checks. If you select "No", then those users won’t have access to the "Terms" tab.

Lastly, you can choose to apply a late fee for past due invoices if you use our invoicing system. This can be set from the "Invoicing Settings" as a percentage or as a flat rate.

Upon submission, an email will be sent to notify you of a completed app to be reviewed.

Adding New Clients

Adding a new client is simple. First, make sure your terms are set up the way you would like, then navigate to the "Clients" tab. Click on the blue "Add" button. Once that is selected, a window will pop up to input the new client information.

When adding a new contact, you can choose to only run a credit check, or you can run a credit check with payment terms. Regardless, the payment information will be collected.

Under the "Clients" tab you can view the clients you currently have in the system. From here, you can view your client's details, view the agreement between you and your client, and you can also delete the client. Below is an image of what the client details page will look like.

APIs for CustomerConnect

We allow for CustomerConnect integration into your existing software. Developers can review our swagger documents for more information. These documents include our free invoicing system which easily enables the setup of automatic invoice payments on their due date.

FAQ

Q. What is the difference between a credit check and a credit check with automated payment terms?

A credit check does not create a contract, nor does it require your client to create terms.

Q. What happens if your customer declines the terms you set for them?

They become a Verified Contact in the system that is not enabled for automated payments. Instead, they receive a request for payment that they must approve.

Q. Are users allowed to change terms?

Your company admin for the platform decides whether the terms are fixed or if a user is allowed to change them.

Q. How can I resolve a dispute?

Your customers are able to dispute an invoice by following these steps:


  • Click on the link to their wallet (found in the transaction notice) where a dispute message box will appear
  • The invoice amount field displays the invoices current balance
  • The dispute amount field allows contact to enter an amount to dispute
  • Customer enters an explanation of their dispute and hits submit
  • When submitted, the invoice status will change to "Disputed" and an email notification will be sent to the merchant

Q. Can CustomerConnect be used with recurring payments?

Yes, the platform supports recurring payments.

Q. Does CustomerConnect support discounts for early payment?

No, CustomerConnect does not support discounts for early payments.

Q. Can CustomerConnect be used just as an automated credit application?

Yes, running an automated credit application will create a Verified Contact.

Q. Who sets what is considered a passing credit score?

The CustomerConnect underwriting team determines the passing credit scores. We have underwritten thousands of clients to this standard and this is how we make our decisions of who we extend credit to.

Q. Does CustomerConnect work with existing invoicing software?

Yes, you can key them into the interface or via the API to automate payments for your Authorized Contacts.

Q. Can CustomerConnect be used to automate payments?

Yes, your client simply has to fill out the credit app and agree to the payment terms which creates an Authorized Contact that you can automate payments.

Q. Are partial payments supported in CustomerConnect?

Yes, but only for payment requests. The Merchant sets the minimum percentage of payment that is required. These settings are available throughout the Platform for different modalities and can be set as defaults.

 

Glossary of Terms

Authorized Contact - a customer that has accepted your terms, provided their payment and credit information and has signed your agreement for automated payments.

Verified Contact - a customer that has provided their credit and payment information but has not signed your terms of agreement.

Merchant - the company using the linked2pay platform for their business. There are two levels in the portal for merchants: admin and user. Admin has more controls than a user.

Client - the client of the Merchant; the person/entity the Merchant wishes to verify.

Customer – our customer, also referred to as the Merchant.

Platform - the entire linked2pay/paycosmos technology system. The Platform provides risk and payments solutions to deliver credit card, ACH, Real-Time Payments (RTP), Instant Merchant Settlement (IMS) & check processing automation.

Automated Payment - an Authorized Contact payment that is automatically processed on the agreed due date.

Payment Request - an invoice, email, or text sent to any Contact to request payment for goods/services.

Customer Wallet - a secure webpage that enables customers to view invoices and transactions. It also lets them make updates to card or bank account information, and to revoke payment authorization.