Why Lucrotec's Automated Payment Exchange (APeX) is Superior!
Lucrotec maximizes vendor acceptance of automated payments beyond what was thought possible. We use a commonly accepted interface file to enroll vendors that do not accept virtual cards. Once enrolled, vendors can accept electronic payments from other providers. APeX machine learning "remembers" all transactions and optimizes all future payments for maximum cash back returns.
APeX uses electronic payment technology to immediately disperse invoice payment funds to your vendors. Reconciliation files can be uploaded on a daily basis, posting transaction details and time stamps to your internal ERP or other systems. In addition, APeX robotic processes automate repetitive tasks such as posting payments to IVRs and web portals, improving the efficiency and effectiveness of your payment process.
APeX uses pre-funded, one-time-use cards in the exact dollar amount for each vendor payment. These cards can only be used with the pre-determined vendor. Each component of every transaction is PGP-encrypted using a key so the transaction cannot be reassembled on the receiving end without the secure key scripts. Transactions cannot be hacked and all payments are FDIC-insured.
With APeX, processing expenses (such as ACH and checks) are a fraction of typical bank’s fees. In addition to the hard-dollar savings, our clients can free up resources and re-allocate them to other revenue-generating activities. Using a virtual card program does not impact current vendors, discount fees, current financial software, or processes.
As a payment processor, Lucrotec can access the interchange fees merchants and vendors pay to accept credit cards. Lucrotec AI technology then optimizes client cash-back rebates based on each client’s unique vendor mix, spend volume, and payment terms. Lucrotec’s secure platform also leverages financial clearinghouses to optimize payments using multiple methodologies, i.e. ACH, EFT, cards, and checks.
Visibility & Awareness
APeX provides new insights into the status of all payments and client rebates. Online dashboards provide instant access to: vendor enrolment levels, payment status, cash back amounts by vendor and time period, rebate rates analysis, and much more. The result: better management of payments, vendors, and cash.
Payment Analytics for a New Level of Operational Awareness
Lucrotec’s APeX software provides comprehensive analytic dashboards that provide users with a new level of awareness about their payments, their suppliers, and the improved cash back revenues they recieve.
Online analytic dashboards allow users to explore their payments across a wide range of criteria and data categories. With interactive drill-down data visualizations, payment details can be explored to reveal new levels of understanding and insight.
How it Works
APeX ensures your payments are secure, accurate, on time, and optimized to generate maximum cash back for your organization.
APeX addresses a wide array of global payment options including check, electronic, and credit cards, and APeX artificial intelligence technology optimizes the entire payment process along with the cash-back returns our clients receive. In addition, APeX can be quickly integrated into existing financial systems, and it requires no out of pocket client expense.
APeX Standards Compliance
APeX processes and hosting delivers high levels of regulatory compliance for organizations of all sizes, across a multitude of industries.
Lucrotec's banking network is SSAE 18 compliant, ensuring detailed controls and effective operation of those controls.
Payment Card Industry (PCI) Data Security Standard
Lucrotec's secure data hosting has been validated to comply with the PCI Data Security Standards.
Lucrotec's hosting service complies with GDPR requirements.
All deposits are insured by the Federal Deposit Insurance Corporation.
Get Started Now!
Request a no-cost evaluation of the cash back potential you and your clients can experience.