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Positive payment.

Former Member
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Hi gurus,

can any one tell in details about positive pay.

Thank you and regards

sasikanth.

Accepted Solutions (0)

Answers (3)

Answers (3)

former_member197269
Active Contributor
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Former Member
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"Positive Payment" is a security process used with a bank to help reduce the risks associated with issuing printed checks. Basically the issuer sends a list of checks to the paying bank which describes the payees. The bank then matches the payee information as part of the clearing process.

There is not yet industry standards regarding interface format.

Oss#20855 offers some hints.

Former Member
0 Kudos

Hi Sasikanth

Positive Pay is Paying for hours recorded, All hours worked and exceptions are recorded

assign points if useful

Regards

Genie