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PayLink (ACH/EFT) - Your Source for Contactless Payment

July 7, 2020

PayLink (ACH/EFT) - Your Source for Contactless Payment

A simple, flexible, and affordable payment processing solution

As the industry faces unique challenges, the need for touchless sales and transactions is becoming a necessity. Business must continue while maintaining social distancing, so distributors and retailers are left to solve these problems to the best of their ability.

While the industry progresses more and more towards automation, there is no reason why distributors should still be collecting retailer payments via cash and check. The inconvenience of collecting payments in person can be costly for both the distributor and retailer, and unsafe in the current situation. Distributorships lose valuable time and money by sending personnel on-site and retailers are often forced to stay at their place of business all day in order to write checks. These old, out-of-date methods of payment collection are simply no longer the best business practice.

Encompass PayLink

Encompass PayLink is an automated payment collection process that generates and sends ACH files to the bank automatically. With Encompass PayLink, distributors are able to seamlessly receive payment from their retailers without having to physically collect the funds.

Simplicity

PayLink creates the ACH file which is sent to the retailer's bank requesting that funds be pulled from the retailer's bank account and moved to the distributor's bank account. Utilizing technology to collect payment is more reliable and has less moving parts which translates to less exposure to error and increased efficiency.

Connectivity

Encompass has also created a retailer ordering platform called DSDLink. When PayLink is coupled with DSDLink, retailers are able to use the platform to order from all of their distributors at once, anywhere, anytime, on any device. With social distancing orders in place, the retailer can place their orders without having to come in contact with a sales rep. In addition, PayLink takes the process one step further by making the transaction process touchless. Distributors are able to collect payment from retailers via ACH payments.

Flexibility

Encompass has flexible bank integration options and is able to connect with the bank of your choice. Encompass is currently integrated with 30+ banks. Some big names include Wells Fargo, USBank and Bank of America; however, smaller local banks are able to do this as well. If you’re happy with your current bank, you’re able to stay with them. Encompass will work with you and your bank to get the process started right away. To view the list of currently supported banks, visit our website.

Affordability

Lastly, PayLink is affordable. The fee to distributors is only $0.05 per invoice + the bank's ACH fees and PayLink comes at no charge to retailers. Encompass estimates that the manual method of payment collection is $2.85-$5.00 per invoice. With PayLink, distributors are able to increase margins and relieve the strain on their staff by securing the payment collection process and eliminating the need for multiple staff members to process cash and check payments.

To learn more about automating your payment collection methods, give us a call at (970) 449-8000.

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