The SDU of today is changing fast as payors want to use the mainstream electronic payment streams that include mobile and website technologies to accept debit and credit cards as well as pay by phone options. Today, the split between paper and electronic processing across the country in SDUs is averaging around at 30% for paper and 70% for electronic. With the desire to use more convenient and efficient electronic payment solutions, the move to electronic payment streams is increasing.
Informatix is poised to handle multiple payment streams into the SDUs. RAPID™ makes it possible as it serves as a normalizer to receive all payment methods. With our use of the iAPPROVE API, RAPID™ can accommodate virtually any payment method. Each new payment method simply becomes another stream into RAPID™ Capture for payment processing. As a result, with RAPID™ we can offer an omnichannel payment solution that includes payments through the web, telephone, IVR, mobile, kiosks, or retail Point of Sale (POS) terminals. With each of these channels, multiple payment methods could be used make payments including a credit card, debit card, check, eCheck, or cash.