Key Elements of Payment Process Design

𝗕𝗲𝗵𝗶𝗻𝗱 𝗘𝘃𝗲𝗿𝘆 𝗦𝘄𝗶𝗽𝗲 💳 — 𝗧𝗵𝗲 𝗦𝘆𝘀𝘁𝗲𝗺 𝗗𝗲𝘀𝗶𝗴𝗻 𝗼𝗳 𝗖𝗿𝗲𝗱𝗶𝘁, 𝗗𝗲𝗯𝗶𝘁 & 𝗕𝗡𝗣𝗟 Every payment rail represents a different architecture of trust, how risk, liquidity, and data flow through the system. Let’s decode what really happens beneath the tap, click, or scan 👇 💳 𝗖𝗿𝗲𝗱𝗶𝘁 𝗖𝗮𝗿𝗱: 𝗧𝗿𝘂𝘀𝘁 𝗶𝗻 𝗙𝘂𝘁𝘂𝗿𝗲 𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 Operates on a post-paid model — the issuer funds the transaction instantly, assuming repayment later. Involves authorization → clearing → settlement → reconciliation, often across multiple intermediaries (issuer, acquirer, network). Data intelligence: Credit bureaus, risk scores, and spending patterns train issuer models for real-time underwriting. Key trade-off: Rewards and flexibility come at the cost of interest exposure and long-term behavioral data tracking. 🏦 𝗗𝗲𝗯𝗶𝘁 𝗖𝗮𝗿𝗱: 𝗧𝗿𝘂𝘀𝘁 𝗶𝗻 𝗣𝗿𝗲𝘀𝗲𝗻𝘁 𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 Executes on a real-time balance validation through core banking APIs. Each swipe directly debits funds, eliminating credit risk for issuers. Security depends on EMV tokens, PIN validation, and network authorization latency. Ideal for predictable, low-risk, day-to-day transactions. 🛒 𝗕𝗡𝗣𝗟 (𝗕𝘂𝘆 𝗡𝗼𝘄 𝗣𝗮𝘆 𝗟𝗮𝘁𝗲𝗿): 𝗧𝗿𝘂𝘀𝘁 𝗶𝗻 𝗔𝗹𝗴𝗼𝗿𝗶𝘁𝗵𝗺𝘀 Functions as a micro-credit abstraction layer built on top of e-commerce checkouts. Uses AI-driven risk assessment (alternative data, device signals, behavioral analytics) for instant approvals. Merchants get paid immediately, while consumers repay in split installments — shifting credit risk from user to provider. Integrates with APIs like Plaid, Stripe, or Affirm SDKs to perform KYC, scoring, and settlement in milliseconds. #Fintech #Payments #BNPL #FinancialInfrastructure

🧭 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗚𝘂𝗶𝗱𝗲: 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗶𝗻𝗴, 𝗔𝗰𝗾𝘂𝗶𝗿𝗶𝗻𝗴 & 𝗜𝘀𝘀𝘂𝗶𝗻𝗴 Payments often look simple on the surface — tap, click, approve. Behind every transaction, however, sits a multi-layer financial infrastructure with clearly separated roles, responsibilities, and economics. Here’s a clean breakdown. 🧩 𝗣𝗥𝗢𝗖𝗘𝗦𝗦𝗜𝗡𝗚 — 𝗧𝗵𝗲 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗟𝗮𝘆𝗲𝗿 The technological backbone of payments. 🔹 Transaction authorization & validation 🔹 Message routing (ISO 8583 / ISO 20022) 🔹 Fraud checks & risk scoring 🔹 Clearing & settlement preparation 🔹 Card, wallet, A2A & cross-border flows ➡️ Processing doesn’t face the customer — it connects everyone else. 🧾 𝗔𝗖𝗤𝗨𝗜𝗥𝗜𝗡𝗚 — 𝗧𝗵𝗲 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁 𝗦𝗶𝗱𝗲 Everything that enables businesses to accept payments. 🔹 POS, SoftPOS / mPOS, e-commerce 🔹 Merchant onboarding (KYC / KYB) 🔹 Terminal provisioning & lifecycle (TMS) 🔹 Settlement to merchant accounts 🔹 Chargebacks & dispute handling ➡️ Acquirers translate payments infrastructure into merchant revenue. 💳 𝗜𝗦𝗦𝗨𝗜𝗡𝗚 — 𝗧𝗵𝗲 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗦𝗶𝗱𝗲 Where payment instruments are born and controlled. 🔹 Debit, credit, prepaid & virtual cards 🔹 Tokenization & lifecycle management 🔹 Balance, limits & real-time authorization 🔹 Customer support & disputes ➡️ Issuers own the customer relationship and credit risk. 🔁 𝗖𝗮𝗿𝗱 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗙𝗹𝗼𝘄 (𝗦𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗲𝗱) 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘇𝗮𝘁𝗶𝗼𝗻 → 𝗖𝗹𝗲𝗮𝗿𝗶𝗻𝗴 → 𝗦𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁 ⏱️ Authorization: real-time (~2 seconds) 📦 Clearing: batch, end of day 💸 Settlement: T+1 / T+2 Approved ≠ settled — timing matters. 💰 𝗪𝗵𝗼 𝗘𝗮𝗿𝗻𝘀 𝗪𝗵𝗮𝘁? A typical $100 card transaction: 🔹 Merchant pays MDR (~2–3%) 🔹 Issuer earns the largest share (interchange) 🔹 Acquirer & network take smaller, fixed slices ➡️ Economics explain why issuers dominate cards — and why A2A keeps growing. 🧩 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 & 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗘𝗻𝗮𝗯𝗹𝗲𝗿𝘀 Between processing, acquiring, and issuing sits another critical layer — enablers. Not replacing banks, networks, or processors. But connecting, orchestrating, and scaling them. 🔹 White-label issuing & processing 🔹 BIN sponsorship & compliance frameworks 🔹 Payment hubs & orchestration layers 🔹 API-driven connectivity across rails 🔹 Faster time-to-market for banks & fintechs ➡️ Enablers turn complex, regulated infrastructure into deployable platforms. 🧠 𝗧𝗵𝗲 𝗸𝗲𝘆 𝗶𝗻𝘀𝗶𝗴𝗵𝘁 Processing, acquiring, and issuing are not competitors. They are complementary layers of the same system. 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗮𝗿𝗲 𝗻𝗼𝘁 𝗮 𝗳𝗲𝗮𝘁𝘂𝗿𝗲. 𝗧𝗵𝗲𝘆 𝗮𝗿𝗲 𝗮𝗿𝗰𝗵𝗶𝘁𝗲𝗰𝘁𝘂𝗿𝗲. Design the layers right — and everything on top scales.

Ever wonder what actually happens when you click "Pay Now"? Online payments may feel instant, but behind the scenes, there’s a complex web of handshakes, approvals, and verifications. Here’s what happens—step by step: 1. Checkout You enter your card or choose a payment method (like PayPal, Klarna, or Apple Pay). → This data is captured and encrypted. 2. Payment Gateway Think Stripe, Adyen, or PayFirmly. → The gateway securely routes the transaction data to the payment processor. 3. Payment Processor The processor (like FIS, Worldpay, or Checkout.com) contacts: 🔹Card networks (Visa, Mastercard, etc.) 🔹Your issuing bank (the bank that gave you the card) 4. Authorization Your bank checks: 🔹Is the card real? 🔹Is there enough balance? 🔹Is the transaction suspicious? If approved → a temporary hold is placed. If declined → you’re shown an error. 5. Response Sent Back The approval or decline flows back through the processor → gateway → merchant website. → You see “Payment Successful.” 6. Settlement At the end of the day, funds are moved between banks via batch clearing. → This is when the money actually starts moving. Bonus: Orchestration Platforms like PayFirmly offer smart routing, fallback logic, and local optimization across 500+ methods, so your payment doesn’t fail just because one processor is down. In short: What looks like one click is actually a high-speed relay race between 5+ players. Next time your payment fails… it’s probably not your fault. #Fintech #Payments #eCommerce #DigitalPayments #PaymentProcessing #PayFirmly #HowItWorks #Stripe #Adyen #Visa #PayPal #Klarna #Mastercard #SmartRouting

We just published a report with MIT Digital Currency Initiative (DCI) on payment tokens - the report 𝗗𝗲𝘀𝗶𝗴𝗻𝗶𝗻𝗴 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗧𝗼𝗸𝗲𝗻𝘀 𝗳𝗼𝗿 𝗦𝗮𝗳𝗲𝘁𝘆, 𝗜𝗻𝘁𝗲𝗴𝗿𝗶𝘁𝘆, 𝗜𝗻𝘁𝗲𝗿𝗼𝗽𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗨𝘀𝗮𝗯𝗶𝗹𝗶𝘁𝘆 captures the key findings and artefacts from our research: https://lnkd.in/eSjEJaJP Key highlights: 1️⃣ Handbook for designing and developing new payment token products. Applicable to all forms of digital money including CBDCs, even while we focused on bank-issued payment tokens. Includes design guidelines, list of functionalities, and a mapping of existing token standards to functionalities which can serve as a blueprint. 2️⃣ Designing for safety and integrity. A key concern for banks and regulators alike - we explain how we prioritize them in the requirements and eventual design. 3️⃣ A new approach of composable standards. It’s challenging to apply the traditional approach of big broad standards (like ISO20022) to a decentralized world with no singular governing body. We think standards should be narrow, componentised and non-overlapping, so a token can implement multiple standards for different parts/components. Even if we can’t agree on standards today, we hope we can agree on the approach and minimize overlaps in future standards proposal. 4️⃣ New token standards needed for regulated FIs. We highlight 2 set of capabilities that we think are needed. First is for payments information to be shared between blockchain wallets (users) and banks for application of payment controls. Second is a set of basic administrative functions that allow token issuers to perform remediation and recovery actions common to traditional payment systems. 5️⃣ Constraints and limitations of directly applying current regulations and conventions of traditional payment processing to a token world. We explore how risks can be adequately or even better managed in a tokenized environment, and discuss how that could enable changes in payment processing and application of payment controls to fully harness benefits. The report is just the first step. We will be discussing these topics at a round-table at Point Zero Forum and how we can take further steps together with broader partners and the ecosystem: https://lnkd.in/eSyK2QtR See you there! And a big shout-out to our co-authors and contributors to the report from MIT DCI and Kinexys by J.P. Morgan: Michael, Emma, Ashwanth, Lillian, Neha, Umar, F. Chris, Naveen, Muh Hwa, Basak, Sai and Raunak.

𝗧𝗵𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗦𝘁𝗮𝗰𝗸 𝗘𝘅𝗽𝗹𝗮𝗶𝗻𝗲𝗱 𝗣𝗮𝗿𝘁 𝟰 - 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘇𝗮𝘁𝗶𝗼𝗻 Despite popular belief, payments don't often fail because a card isn't activated yet, the bank declined the transaction for no reason, or something just "broke" in the flow Behind every payment made is a real time engine that spans multiple players to reach an ultimate decision, authorize or do not authorize Let’s break it down 👇 𝗙𝗶𝗿𝘀𝘁: 𝘄𝗵𝗮𝘁 𝗶𝘀 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘇𝗮𝘁𝗶𝗼𝗻? Authorization is the moment a payment is approved or declined When a transaction is initiated: → The issuer receives it → Evaluates the request → Sends back a decision ▪️ This all happens in a few hundred milliseconds 𝗪𝗵𝗼 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗺𝗮𝗸𝗲𝘀 𝘁𝗵𝗲 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻? The issuing bank rules the roost and is the final decision maker. But, their decision is heavily influenced by: → Merchant data (MCC, location, history) → Transaction details (amount, currency, channel) → Cardholder behavior (spending patterns, velocity) → Fraud signals (device, risk scoring) → Authentication data (3DS, SCA) ▪️ The issuer isn’t guessing and choosing, it’s evaluating a mountain of signals 𝗪𝗵𝘆 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗳𝗮𝗶𝗹 Declines aren’t random, they typically fall into two buckets: Hard declines ✖️ Insufficient funds ✖️ Lost or stolen card ✖️ Closed account Soft declines ✖️ Suspected fraud ✖️ Missing data ✖️ Issuer uncertainty While there isn't much to do in a hard decline scenario, soft declines are where most optimization happens 𝗪𝗵𝗮𝘁 𝗶𝗺𝗽𝗮𝗰𝘁𝘀 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗿𝗮𝘁𝗲𝘀 Small changes in how a payment is sent can have a big impact. Think things like: → Clean and enriched data → Correct MCC and descriptors → Tokenized vs raw card data → Use of 3DS when needed → Routing through the right acquirer ▪️ These all influence how the issuer evaluates risk 𝗪𝗵𝗲𝗿𝗲 𝗼𝗽𝘁𝗶𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗰𝗼𝗺𝗲𝘀 𝗶𝗻 Modern payment stacks shouldn't just send transactions down the chain They optimize them: → Smart routing across PSPs → Retry logic for soft declines → Dynamic use of 3DS → Network token usage → Data enrichment before authorization The goal: ▪️ Give the issuer the best possible data 𝗪𝗵𝘆 𝘁𝗵𝗶𝘀 𝗺𝗮𝘁𝘁𝗲𝗿𝘀 Authorization is the most important moment during a payment. It determines: → Whether revenue is captured or lost → Whether a customer converts or churns → Whether fraud is stopped or approved ▪️ Everything else in the stack leads to this decision 𝗧𝗵𝗲 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆 Payments fail because the issuer didn’t have enough confidence to approve the transaction The job of a modern payment stack is simple. Send the right transaction, with the right data, at the right time. Because in payments, approval is everything 🔔 Follow Jason Heister for daily #Fintech and #Payments guides, technical breakdowns, and industry insights

Payment optimization works best when it is viewed as a system rather than a set of isolated tactics. The strongest subscription businesses are the ones that treat optimization as an ecosystem. Every subscription business touches dozens of signals that influence approval rates, customer clarity, issuer trust, and long-term retention. When each part is optimized independently, results tend to flatten. When the entire system is aligned, performance compounds. A holistic approach usually spans six connected domains: 1. Architecture and Integration The structure of your payments stack determines how quickly you can adapt, how well data flows, and whether issuers consistently receive the signals they expect. Strong architecture sets the foundation for every other improvement. 2. Data Environment and Visibility Unified schemas, normalized responses, enriched intelligence, and transparent dashboards create a single source of truth. You can only optimize what you can measure, and fragmented data makes meaningful optimization impossible. 3. Authorization and Routing Routing rules, local acquiring strategies, failover paths, and network tokenization influence both approval rates and recognition. These decisions shape how issuers interpret the transaction and how customers experience the charge. 4. Checkout and Payment Experience Clear trial terms, recognizable descriptors, visible renewal details, localized and personalized payment options, and intuitive controls reduce confusion and support clean approvals. The checkout experience generates many of the signals that issuers rely on. 5. Retry, Recapture, and Grace Periods Payment failures are inevitable. The timing, path, and communication strategy around retries determine how much revenue you recover and how customers perceive the recovery process. 6. Fraud, Risk, and Disputes Alerts and disputes reveal gaps in clarity, communication, or recognition. Managing these issues with intention strengthens issuer relationships and stabilizes renewal performance . When these domains operate in sync, subscription businesses create a consistent story for customers and issuers. Every touchpoint reinforces identity, legitimacy, and predictability. That consistency becomes an advantage: higher approval rates, fewer disputes, clearer communications, and a smoother subscriber journey. Holistic optimization is about aligning the entire system so that each domain strengthens the others.

Building a Payment Service from Scratch - What I Learned as a Founder When we started building the payment system at takeUforward, I thought it would be simple, just integrate Razorpay/Paypal and move on. But once we went deeper, it turned into a full product within a product. Payments are about reliability, data integrity, and how gracefully your system behaves under pressure. Here’s what we learned 👇 - Don’t build only for “plans”, design for plan entities in your schema so upgrades/bundles/emi’s/future standalone offerings are easier to integrate - Support multiple validity periods within the same flow. - Implement an Adapter Pattern so gateways like Razorpay, PayPal, or Stripe can be swapped without touching business logic. - Keep a transaction_id as the single source of truth and design every API around it (create, capture, refund, audit) - Log everything, and store gateway response for future auditing - Ensure idempotency for every payment and refund API - a single retry shouldn’t double charge a user - Run all external calls async using background jobs or message queues to avoid blocking the user flow - Integrate refund callbacks with GST reversal logic to maintain accurate tax credits - Implement signature validation and webhook verification to avoid spoofed callbacks - Support EMI and split payments, each transaction linked via a parent-child hierarchy - Build monitoring dashboards for transaction latency, failure rates, and P95 response times - Use feature flags to roll out new gateways or payment logic gradually - Integrate third party sales - Integrate other product sales on our platform, manage taxes for them. These things sound overkill at the start, until you hit scale and realize why systems like Stripe and Razorpay obsess over these details. 💡 Check out TUF+ - we’ve covered OOPs/LLD over there, along with everything needed for Interview Preparation. It’s your one-stop interview prep platform for DSA, LLD, Core CS and more. Use code STRIVER to get the maximum discount, valid for the next few hours only ⏰

The Payout Money Flow 💡 What if payouts transformed from a cumbersome process into a competitive advantage that delivers exceptional experiences for sellers while driving operational efficiency? By prioritizing streamlined compliance, fostering loyalty, and optimizing operations, marketplaces can unlock new growth opportunities 💳 Compliance is often viewed as a complex maze filled with acronyms like AML, KYC, KYB, PSD2, and the forthcoming PSD3. For many marketplaces, these regulations can feel overwhelming. However, they also present an opportunity for those willing to embrace them. The Payment Services Directive (PSD2) forces marketplaces to make a critical choice: should they be directly involved in the payment flow or not? To manage payment flows, marketplaces must obtain a financial services provider license. For example, EU-based marketplaces handling payments must acquire a Payment Institution (PI) or Electronic Money Institution (EMI) license, but this involves substantial regulatory and operational challenges. Imagine a marketplace navigating these regulatory waters with ease. Platforms can turn compliance from a burden into a streamlined process. With a unified integration layer that simplifies KYC and AML requirements, marketplaces can focus on what truly matters: fostering growth and supporting their sellers 🚀 For a marketplace to remain a preferred choice, payouts should be a cornerstone of your value proposition. Sellers, particularly those in the gig economy, often depend on real-time access to earnings. Delayed payments or hidden fees can disrupt their entire business and damage trust. Picture this: A seller eagerly awaiting payment for their latest sale only to find themselves caught in a web of delays and hidden fees. This scenario is all too common and can quickly lead to frustration and distrust. However, when marketplaces prioritize timely payouts and transparency in their processes, they create an environment where sellers feel valued. ➡️ Provide sellers with their preferred payout options. Sellers demand choice. Whether through cards, wallets, or bank transfers in local currencies, providing multiple payout methods is essential. ➡️ Ensure timely, predictable payouts. Delays in payouts can strain the seller-marketplace relationship. By integrating real-time, batch, and scheduled payout options, platforms can meet sellers’ demand for instant access to earnings. ➡️ Provide clear status reporting and commission breakdown. Transparency is invaluable. Sellers need clarity on what they are being paid, when they will receive it, and how much they will get after fees. Offering complete visibility into payouts builds trust and reassures sellers that they’ve chosen the right marketplace. Source: Payrails - https://lnkd.in/gNqd5eHu #Innovation #Fintech #Banking #Marketplace #PSD3 #FinancialServices #Payments #BNPL #PayOuts #Compliance #KYC #AML #Wallets 

2025 Buyer’s Guide to International Payments Selecting the right cross-border payments provider requires careful evaluation across key areas to ensure compliance, efficiency, and reliability. 1. Regulation and Compliance Global payments are subject to complex regulations, making compliance a critical factor. Providers must hold the necessary licenses, such as Money Transmitter Licenses (MTLs), to legally operate in different jurisdictions. They should also streamline compliance with automated KYC checks and AML processes, reducing administrative burdens and ensuring adherence to evolving regulatory requirements. Strong compliance practices protect businesses, build trust, and enhance global reputation. 2. Currency Coverage A provider’s ability to support multiple currencies determines operational flexibility. Businesses should assess whether the provider covers their current intake and payout currency needs and offers competitive conversion rates to minimize costs. Future scalability is also important—providers should be able to support expansion into new markets, particularly emerging economies, ensuring businesses can adapt to global opportunities. 3. Service Reliability and Redundancy A robust payments infrastructure ensures uninterrupted service, preventing financial losses and operational disruptions. Providers should offer built-in redundancy, maintaining multiple banking partnerships to continue processing payments even if one fails. Strong partnership networks enhance efficiency, while disaster recovery and contingency planning ensure uptime during technical or geopolitical disruptions. 4. Ease of Technological Integration A modern payments provider should simplify, not complicate, business operations. Providers must offer flexible integration options, including both manual processes and API-based automation. Developer-friendly APIs with clear documentation and technical support facilitate seamless implementation, while customizable workflows allow businesses to tailor payment processes to their specific needs. Sandbox environments for testing further improve the onboarding experience. 5. Speed and Transparency Fast onboarding, real-time payment tracking, and clear reporting tools are essential for smooth operations. Providers should enable businesses to start transacting within hours or days rather than weeks. Payments should be trackable like a package delivery, ensuring visibility and eliminating uncertainty. Additionally, 24/7 customer support and dedicated account managers help businesses resolve issues quickly and expand their payment capabilities when needed. Source Rail #fintech #payments #banking Brice Ali Alex Michele Nafis Monica Theodora Saleh Veronica Helen

E2E Accounts Payable steps :- Processing an Accounts Payable (AP) invoice involves several key steps to ensure accuracy, compliance, quality and timely payments. Here’s a standard workflow we can follow: 1. Invoice Receipt: • Receive the invoice via email, mail, EDI, or supplier portal. • Stamp the invoice with the receipt date (if manual). 2. Invoice Verification - Check the following: • Vendor name and address • Invoice number (unique) • Date of invoice • Purchase Order (PO) number (if applicable) • Description, quantity, and price of goods/services • Payment terms • Tax details (GST, VAT, etc.) • Ensure the invoice is not duplicated. 3. Match the Invoice: • 2-way match: (Service-based PO invoices, recurring purchases & subscriptions etc) Invoice vs. Purchase Order • 3-way match: (Material PO Invoice) Invoice vs. Purchase Order vs. Goods Receipt Note (GRN) Confirm:Quantity received = Quantity billed & Price as per PO= Price on invoice 4. Code the Invoice: • Assign appropriate GL (General Ledger) codes, cost centers, and project codes. • Ensure correct accounting treatment (capital vs. expense). 5. Approval Workflow: Route the invoice for internal approval if required (non-PO or exceptions). • Approval levels may depend on the invoice amount or department policy. 6. Enter into Accounting System: • Record the invoice in the AP module of ERP/accounting software. • Capture: • Vendor details • Invoice details • Due date (based on payment terms) 7. Schedule for Payment: • Review payment terms to determine due date. • Set for payment in the payment run. • Verify discounts for early payment, if any. 8. Make Payment: • Pay via approved mode: bank transfer, cheque, ACH, etc. • Record payment in the system. • Send remittance advice to the vendor. 9. Record & update: Record the payment in the accounting system to reflect the transaction and update the accounts payable ledger. 10. Reconcile and Archive: • Reconcile vendor statements with AP ledger. • Resolve discrepancies. • Archive invoice documents as per compliance requirements. #accountspayable #AP #APprocess #E2EAPworkflow #bestpractice #P2P #procuretopay #apsteps #workflow