Audits are time consuming and tedious; however, once you start processing with Paymerang, not only do your payments become simpler, but so does your audit process.
Our transformative payment automation solution simplifies your NACHA, SOC2, PCI-DSS, and Positive Pay processes by undergoing these strict audits and industry best practices so you don’t have to.
The NACHA Operating Rules require all
participating depository financial institutions, Third-Party Service Providers,
and Third-Party Senders conduct a risk based ACH
Rules Compliance Audit each year. The ACH Rules Compliance Audit can help
you identify potential problems, correct them before an issue arises, and limit
your liability. Audits are conducted annually and require the institution to
provide an in-depth chronological report of all ACH operations and other
related finance processes.
Developed by the AICPA, SOC 2 is specifically designed for service providers
storing customer data in the cloud. Before 2014, cloud vendors only had to meet
SOC 1 compliance requirements. Now, any company storing customer data in the
cloud must meet SOC
2 requirements in order to minimize risk and exposure to that data.
Card Industry Data Security Standard (PCI DSS) is a set of
requirements intended to ensure that all companies that process, store, or
transmit credit card information maintain a secure environment. It was launched
on September 7, 2006, to manage PCI security standards and improve account
security throughout the transaction process.
Paymerang’s cloud-based platform securely manages these
costly and time-consuming audit processes so your team can avoid the headache
and focus on more mission-critical initiatives.
Benefits of Partnering with Paymerang:
- Greater simplicity through a streamlined process
- Greater security through encrypted account data and two levels of authentication
- Greater savings through cost savings on costly audit processes
- Greater efficiency through time saved on annual audits
To learn more about how we reduce the headache of audits and simplify your audit process click here.
We were proud to participate in the National Association of State Comptrollers (NASC) virtual conference. Paymerang CEO, Nasser Chanda, joined Mark Merry, CPA, Assistant Director, Department of Financial Services, Division of Accounting and Auditing, at State of Florida and Jim McClurkin, Director, Public Sector at SAP Concur on a panel to discuss electronic payment fraud management.
Payment fraud risk is a very real threat to organizations—and is
at an all-time high. Moreover, it’s not just your checks that are at risk. Fraudsters are using new tools and
sophisticated schemes to infiltrate electronic payments to suppliers. One error
in processing an ACH or wire transfer could cost millions of dollars and
result in significant embarrassment for finance teams.
the least secure payment method. Checks can easily be intercepted, white-washed and
cashed, leaving buyers with the expense of investigation, the cost to re-issue
checks, and losses.
But that doesn’t mean that paying suppliers electronically is
without risk. Automated Clearing House
(ACH) debit fraud is at all-time peak and shows no signs of slowing down. What’s
more, ACH credit fraud has increased steadily since 2012, and business email
compromise (BEC) attacks have resulted in significantly higher levels of wire
transfer fraud. These sobering stats are from the Association of Finance
Professionals’ (AFP) 2019 Payments
Fraud and Control Survey.
The good news is there are safeguards and best practices that can
help organizations mitigate their fraud risk.
To learn more about Electronic Payment Fraud Management check out
the NASC presentation recap here.
Paymerang CEO, Nasser Chanda, will be speaking at the upcoming ePayConnect conference about the security, efficiency and profitable that comes from automating Accounts Payable. It’s a session you don’t want to miss!
To better reflect its evolution from a local ACH conference to a nationally-known payments event, ePay Resources announced the new name for their annual conference! ePayConnect (formerly Information Interchange) will be taking place March 4 – 6, 2019 at Disney’s Coronado Springs Resort.
At ePayConnect 2019, attendees will have the chance to interact and learn from industry leaders touching on all payments channels, including legacy systems and faster payments innovations. Attendees will be able to propel their understanding of payments trends, new products and technology solutions, important risk and compliance issues, and the latest opportunities for improving operational efficiency.
This week Brian Cook, Senior Vice President of Higher Education with Paymerang, attended and presented at the 21st National Cards and Payments On Campus Conference hosted by Professional Development Group in Atlantic Beach, FL. Since 1986, PDG has planned and overseen conferences that are national in scope. Each year, they host a Student Loan Receivables Collection Conference, P-Cards on Campus Conference, and The College & University Bursar Conference. The National Cards and Payments on Campus Conference is an event built by Higher Education, for Higher Education. The conference is geared towards all skill levels for card & procure-to-pay programs from beginning to advanced. The conference gave attendees the opportunity to learn how they can avoid reinventing the wheel by learning from top experts in strategic spend management from both public and private institutions from across the country.
During Brian’s time with Paymerang, he has been involved with the selection and implementation of several electronic supplier payment and P-Card programs. Brian’s various roles within Paymerang and the payments industry have allowed him to personally speak with thousands of finance professionals who have experienced varying levels of success implementing B2B ePayments for Accounts Payable and the pain points they continue to face.
His presentation at the conference, B2B Payments on Campus; Past, Present and Future, discussed the advent of white label banking options for software and cloud based organizations to deliver funds with large amounts of customized data to suppliers. A rapid evolution is taking place which is changing the payments landscape.. Companies are implementing a more automated, simple and secure process that benefits both the payor and payee. His presentation took attendees through time from where payments have been to where payments are heading in the next few years and how their campus can benefit from leveraging these advances in secure technology.
To see see the latest Paymerang events click here.