PayJunction announces launch of digital invoice service


Lucy Ingham
Lucy Ingham
Head of Content
Lucy is Head of Content at FXC Intelligence, overseeing all content and taking deep dives into the trends and data driving changes in payments. Before joining FXC Intelligence, Lucy worked as a… Read more
  • PayJunction, which was launched in 2000 and is based in California, has announced a digital invoicing service designed to help employees of companies raise invoices remotely.
  • It said that companies that have had to shift meeting processes to the web during the coronavirus pandemic are likely to benefit from the new service, which is already in place.
  • A senior leader at PayJunction added that the new service could also help in other ways – especially when it comes to saving time and improving cash flow for users.

Payment processing fintech firm PayJunction has confirmed that it has launched a digital invoicing service designed to help improve cash flow for firms hit by the coronavirus pandemic.

The service allows employees of firms to raise invoices wherever they are using almost any device with a functioning web browser.

They can add details such as the fee being charged and then have the invoice sent out for payment.

Invoices can also be tagged to client files.

The company, which is known for its ‘virtual terminal’ services, claims that its new service is already popular with companies such as law firms.

It claimed that interest in the service was strong from companies that require a reduction in in-person meetings due to the pandemic.

The increasingly digitalised nature of meetings has also increased demand for digital ancillary services such as these.

A leader at PayJunction, which is based in the US state of California, said that the company had an eye on the long-term consequences of the pandemic – especially as it pertains to in-person meetings.

Randy Modos, who is the company’s president, said that the tide had turned for good.

“There is no going back. Businesses continue to replace paper-based processes with digital experiences that are fast, easy, and secure,” he said.

He added that there may be other benefits for firms – including time resource savings and a better mode of managing incomings and outgoings.

“Our invoices feature allows businesses to maintain social distancing, save time, and improve cash flow,” he said in a statement.

“This pandemic has fueled widespread adoption of payment methods like contactless cards, digital wallets, and remote payments that ensure safe and healthy interactions.” 

In addition to requests for basic online money transfers, the service also has a number of additional features.

Companies issuing invoices can use the tool to permit incremental payments if they wish. 

Higher levels of security are also in place thanks to the presence of a ‘hosted payment’ service, which – the firm claims – is better than taking card payments over the phone.

PayJunction was set up in 2000.

According to its own figures, it processes more than US$5bn every year and caters to American businesses in particular.

It has a “dedication to valuing long-term relationships over short-term profit”, it said.

PayJunction is one of hundreds of firms working to improve the international money transfers sphere – check out what other companies in the sector are doing by browsing some of our reviews.

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