Oracle Payments overview

Oracle Payments overview

• Oracle Payments is a product in the Oracle EBS, which serves as a funds capture and funds disbursement engine for other products in the Oracle EBS.
• Funds capture refers to the electronic retrieval of funds, typically by a payment system on behalf of the deploying company, from payers, such as customers, who owe debts to the deploying company. The payer, in this case, provides Oracle Payments with pertinent payment information, such as a credit card, debit card, or bank account number.   
• Funds disbursement, on the other hand, is the process of paying funds owed to creditors, such as suppliers.
• Oracle Payments provides the infrastructure needed to connect oracle applications and others with third party payment systems and financial institutions for fund capture and fund disbursement.
• With the centralization of payment processing in Oracle Payments, Companies can efficiently centralize the payment process across multiple organizations, currencies, and regions. Better working capital management can be achieved by providing cash managers visibility into cash inflows and outflows. Additionally, a full audit trail and control is supported through a single point of payment administration.
• Oracle Payments supports the following types of electronic payments for funds capture payments – Credit Cards, Purchase Cards, PINless debit cards, bank account transfers.
• Oracle Payments supports several payment methods for funds disbursement payments, including – checks, wires, electronic fund transfers.