Comdata Launches Comdata ConnectPay: A Revolutionary Procure-to-Pay Solution, Powered by OnPay Solutions
Brentwood, Tenn. — July 24, 2013 Comdata Corporation, a leader in payment innovation, today announced the launch of Comdata ConnectPay, a comprehensive accounts payable automation solution that enables corporations to easily convert their financial systems and payment processes to an electronic payables platform. Comdata ConnectPay efficiently addresses all payment types, connecting data from multiple locations, divisions and systems onto one platform to securely pay vendors, suppliers or individuals from any company location.
Comdata ConnectPay provides significant cost-saving benefits by selecting the lowest-cost payment file per transaction size whether it be card, check, ACH or wire transaction. Centralized reporting allows for enhanced visibility into spend.
"We are excited about this new solution that clearly provides significant value to our customers," said Mark Schatz, executive vice president, Comdata. "We know that paying bills cost-effectively and securely is challenging. With Comdata ConnectPay, customers can connect to all of their banks from one program, save time with less manual processing of individual payment methods, and save money with reduced postage and mailing supplies."
"We are very pleased to partner with Comdata on this product," said Neal G. Anderson, president and CEO of OnPay Solutions Inc. "Comdata ConnectPay allows companies to streamline payments through one disbursement solution which improves payment accuracy and enhances reporting abilities. Comdata ConnectPay offers a total payment solution."
Additional benefits of the solution include an automated fraud detection tool, easy integration into existing ERP software and the ability to earn monthly rebates. The platform is not tied to a specific treasury bank, meaning customers can maintain their existing bank and treasury relationships, so no additional software is needed. Comdata ConnectPay is only available to Comdata customers.
About OnPay Solutions, Inc.
OnPay Solutions focuses exclusively on business-to-business payments. OnPay offers a range of products and services which allow businesses make payments in the most efficient way possible all while allowing them to remain bank-neutral. OnPay provides software solutions, hosted solutions, consulting services and outsourced check printing services to help business achieve maximum efficiency and even generate a revenue stream back into their accounts payable department.
About Comdata Corporation
Comdata Corporation is a leading business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, the company provides fleet, corporate payment, healthcare, virtual card, and prepaid solutions to over 30,000 customers. Comdata captures and reports detailed transaction data, giving customers unprecedented control over their expenses. In 2012, Comdata joined forces with Stored Value Solutions (SVS) to offer an expanded suite of prepaid gift card and loyalty solutions. Annually, the combined company enables over $50 billion in payment volume. Founded in 1969 and headquartered in Brentwood, Tennessee with more than 1,200 employees in the United States and Canada, Comdata and SVS are wholly-owned subsidiaries of Ceridian Corporation.