Direct Deposit

Direct Deposit is the electronic transfer of a payment from your company's account into the checking/savings account of an employee, shareholder, affiliate, or other individual or business. The payment can be divided among several different accounts and between different financial intuitions. Inova Suisse offers direct deposit to allow our customers to pay suppliers, partners, and employee's payroll and expenses via electronic checks. By receiving an input file with the specified account information and amounts, Inova Suisse can process payments electronically via the Automated Clearing House, saving your company time and money.

Reduced check preparation & bill payment costs
Lowered time and labor requirements associated with payments administration
Eliminated lost & stolen checks
Diminished fraud due to lower potential for stolen and counterfeit checks
Decreased processing costs (companies report savings more than 40 cents in processing costs for each paper check converted into direct deposit).
Incentive and convenience for your employees with direct deposit of payroll (employees don't have to waste time depositing their checks)
Enhanced reliability versus paper check

There are two options available for integration. In our basic integration, Payees must enroll via a URL provided by the Merchant (from Inova Suisse). Merchants will then send a file to Inova Suisse in a comma-quote delimited file containing the details of each payment, one entry per line. Our API integration provides the merchant with a TCP/IP socket-based interface for submitting transactions for authorization. This interface exclusively accepts credit transactions from merchants, grouping transactions into batches. A batch may contain one single transaction or a thousand. For complete information about the Inova Suisse Direct Deposit Service, please contact an Inova Suisse Sales Representative.

Paying Suppliers
Revenue sharing with Partners
Employee Payroll
Expense Reimbursement
Bill Payment