many businesses in US still setup to process them.
software auto prints and sends them after accounts payable approve payments. they then get sent to a bank's lockbox of vendor.
someone contracted by banks sits in front of each and types out details. then someone from accounts receivable of vendor exports a csv file from the bank and uploads to their own software to confirm who has paid what.
because software and machines have solved the print and send piece and the banks have scale and outsourced the manual part of processing to a low cost jurisdiction goodness knows where its still unfortunately very cost effective for both sides
.𝖇.𝖔.𝖓.𝖊.𝖘.
npub1hy…7vmky
2023-12-16 23:36:47
in reply to nevent1q…ymsd
Author Public Key
npub1hyf90dgcaeezd9e0c7mjd6td3f35wa6s5x6qtz0rdgyswddylyhsd7vmkyPublished at
2023-12-16 23:36:47Event JSON
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"created_at": 1702769807,
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"content": "many businesses in US still setup to process them.\n\nsoftware auto prints and sends them after accounts payable approve payments. they then get sent to a bank's lockbox of vendor.\n\nsomeone contracted by banks sits in front of each and types out details. then someone from accounts receivable of vendor exports a csv file from the bank and uploads to their own software to confirm who has paid what.\n\nbecause software and machines have solved the print and send piece and the banks have scale and outsourced the manual part of processing to a low cost jurisdiction goodness knows where its still unfortunately very cost effective for both sides",
"sig": "a83b5d98a89d8899511520c2d4cdc83f01851a4821f0f3df05484a37e5c8c0109f1dd09842ae9262a3d7d7709f3c1ca699f3b1b5d4744a445331b4e70d978592"
}