The company’s new Medius Payments solution builds upon its existing Medius Pay solution and introduces straight-through payments capability, allowing payment batches to be built and executed directly from its platform, the company said in a Tuesday (June 24) press release.
“Medius Payments simplifies how money moves,” Chief Product Officer Gary Hall said in the release. “By embedding payments directly into the AP workflow, we give customers a clear path from invoice to payment execution with full security and without changing how they bank.”
With Medius Payments, payments are routed through customers’ existing bank accounts, according to the release.
The solution supports multiple payment methods across the United States, Europe and the rest of the world and offers multi-currency and international capabilities, giving suppliers a consistent and compliant way to pay any supplier, the release said.
Because it is natively built into the Medius AP workflow, Medius Payments embeds approval rules, fraud detection and audit trails directly into the system, reducing fraud exposure, improving visibility and enabling fast, policy-aligned payments, per the release.
“Automation only delivers its full value when it extends from start to finish,” Medius Vice President of Product Management Ekaterina Dzhalchinova said in the release. “Medius Payments is a critical step in that journey.”
The PYMNTS Intelligence and Esker collaboration, “Why Automating Both AR and AP is Vital to Fiscal Fitness,” found that accounts receivable (AR) and AP automation streamlines accounting, strengthens security and improves B2B relationships through improved visibility and efficiency.
The report found that 95% of companies that fully automate their AP processes see increased accuracy, efficiency and operational improvements, with the transition to digital payments accelerating invoice processing and reducing fraud risk.
The company said in June 2024 that it added two artificial intelligence-powered offerings to its AP automation application. These offerings included an AI assistant called Medius Copilot that assists invoice approvers, especially those who are not AP experts, and the Medius Supplier Conversations solution that aims to reduce the time companies spend responding to supplier inquiries.
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