U.S. Bank Offers Electronic Payment SystemU.S. Bank will make Power Track, an electronic business-to-business payment system used mainly in the logistics industry, available to businesses for electronic invoicing, payments and other services, the Minneapolis company said last week. Features include:
· Payment within days to sellers while allowing buyers the average 30-day payment period they are accustomed to in traditional invoicing.
· Resolution of discrepancies before a payment is made.
· Provides large and small companies equal access to the same electronic technology through Internet connections.
· Integrates seamlessly and easily with buyers' and sellers' systems.
· Lets international companies settle in local currencies and automatically links payments and receipts to internal general ledger systems.