Understanding payments

Fusion Cash Management (FCM) Payment Management enables you to initiate single or batch payments.

The key payment methods are:

Domestic Payments	Account Transfer	The receiver account belongs to the same company (or group of companies) and the sender account and receiver account are held at the system bank.
	ACH	Payments made using the Automated Clearing House.
	Wire Transfer	Payments made within the same country where the receiver has an account with a different bank that is a member of the national clearing network.
International Payments	International Transfer	International cross-currency payments to domestic and global receivers using SWIFT, with support for FX conversion.

FCM supports the following methods to initiate payments:

1. Create a transaction from the payment summary page.

2. Use previous transactions as templates for future use.

3. Copy or clone existing transactions.

4. Create recurring transactions - that instructs the bank to carry out recurring payments at the specified intervals.

5. Upload payment information generated from legacy systems such as SAP or HRMS and use that information to initiate payments.