Fiserv BANKLINK Adopts EPN STP 820 Standard

Tuesday 12 April 2005 11:03 CET | News

Fiserv BANKLINK, has adopted The Electronic Payments Network (EPN) STP 820 to facilitate straight-through-processing for business-to-business payments.

BANKLINK adopted EPN STP 820 for its iLINK product, a suite of Web-based cash management products for financial institutions and their corporate customers. iLINK enables institutions to provide a full suite of payments capability including remote deposit, controlled disbursements, wire transfer, ACH origination, internal transfer, cash concentration, check management, stop payment initiation, imaging and loan reporting. EPN STP 820 rationalizes the complexity of the ANSI 820 payment standard by defining the required data elements to be included with the payment. EPN STP 820 specifies up to 10 required data elements depending on the type of payment, such as customer name, account number, gross invoice amount and amount paid, to be included with the electronic payment for as many invoices as are being paid. Developed from extensive research and working with industry groups, software providers, banks and businesses, the EPN 820 standard is approved by ASC X12 F.

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Categories: Payments & Commerce | Payments General
Countries: World
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