Collection
Receive payments for your business.
For payments coming in from customers or other business counterparties. Collection focuses on how your business receives money for its commercial activity.
- Useful for
- Customer payments, invoice payments and other business collections.
- What to share
- Who will pay, the payment purpose and how collections fit your operations.
Discuss this servicePayout
Make payments to your intended recipients.
For money your business needs to send to suppliers, partners or other recipients. Payout focuses on the outgoing payment and the instructions needed to arrange it.
- Useful for
- Supplier invoices, partner payments and other business payment obligations.
- What to share
- Who you need to pay, the reason for the payment and your payment requirements.
Discuss this serviceVirtual Accounts
Organise the way your business receives payments.
Virtual accounts form part of a collection arrangement. They help structure incoming payments around your business needs, with the setup and usage discussed for your payment flow.
- How it differs
- Collection is the incoming payment activity; a virtual account is part of the receiving arrangement.
- What to share
- How you want to identify incoming payments and where a virtual account would fit.
Discuss this servicePayments in Your Business Name
Arrange payments made on your behalf, in your business name.
For businesses that need a payment made on their behalf using their business name. Share the recipient, payment purpose and naming requirements so the arrangement can be discussed.
- How it differs
- Payout focuses on sending the payment. This service also addresses whose name the payment is made in.
- What to share
- Your business name, who you need to pay and why the naming requirement matters.
Discuss this service