![]() The variance largely depends on if a business is using an ACH API, mass payments platform, bank portal, or digital payment solution like PayPal Mass Pay. These text files vary between long lengths of code and specific formatting. If you’ve ever had to deal with payment files, they can be a huge headache. It’s a digital form of a check remittance that ensures all funds are directed to the proper place. A company must create and upload payment files, so the bank knows who and where to pay. That’s where the digital world comes in.Ī mass payment is typically set up to run through a banking portal or bank API. This eradicates the traditional remittance process and requires a new form of thinking. ![]() When a business wants to pay all of its vendors at the same time, it must be done in batches. ![]()
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