Tuesday, Oct.1st VIENNA Grand Pointe Conference Center 1500 Grand Central Ave Vienna, WV 26105 Wednesday, Oct. 2nd CHARLESTON Charleston Coliseum 200 Civic Center Dr Charleston, WV 25301 Thursday, Oct. 3rd BECKLEY Beckley-Raleigh County Convention Center 200 Armory Dr Beckley, WV 25801 Tuesday, Oct. 8th WHEELING Wheeling Country Club 906 Oglebay Dr, Wheeling, WV 26003 Wednesday, Oct. 9th MARTINSBURG Hilton Gard Inn 65 Priority Dr Martinsburg, WV 25401 Thursday, Oct. 10th BRIDGEPORT Bridgeport Conference Center 300 Conference Center Way Bridgeport, WV 26330 MOTOR VEHICLE & TITLE REGISTRATION SEMINAR Save the Dates! 6 Locations Scan for registration form Building a Payments Strategy The range and sophistication of payment options continue to evolve. Payments planning as you work toward creating a payments policy can help ensure your choices align with your business goals and provide the most efficient and cost-effective option for each type of payment you make. Developing a sound payments process starts with a careful assessment of all your incoming and outgoing payments, along with the business requirements behind each one. Examine each type of payment you make in terms of security, speed, cost and convenience involved in moving those funds. Questions you will want to consider include: • When should you remit payment based on terms and discounts? • Do you have a hierarchy of preferred payment options based on transaction cost and ability to mitigate fraud? For example, your preferred payment method may be virtual cards, followed by ACH and RTP. • Do you have segregation of duties where one person enters the payment and a second person approves the payment? A payments strategy can guide you in improving the use of your working capital as you hold onto funds longer before remitting payment, send payments the most cost-effective way, mitigate fraud risks and ensure proper payment authorization. As you begin to design your own payments strategy, refer to the business payments options outlined above. A Corporate Payments Strategy — A Smart Choice Apply the same energy toward payments you use to reach customers through marketing and sales. Your Truist Dealer Services relationship manager can help you determine the best payment options for your business. 1. Digital Auto Report 2023 Volume 1 — Understanding Customer Preferences and Implications, PWC, 2023. 2. AFP 2023 Payments Fraud and Control Survey, Association for Financial Professionals, 2023. 3. John Adams, Real-time payments leave little time to spot fraud, American Banker, October 23, 2023. Truist Bank, Member FDIC and Equal Housing Lender. ©2024 Truist Financial Corporation. WVADA News 24
RkJQdWJsaXNoZXIy MTg3NDExNQ==