File upload with fx360

GlobalPay fx360 is one of the most flexible file interfaces in the payment industry. It enables full integration of your ERP, accounting software or Treasury Management Systems — without any IT development on your end or significant business process changes.

With fx360, you no longer have to implement and maintain multiple file integration formats from the array of proprietary formats promoted by various banks, and other industry standard formats (such as SWIFT, EDIFACT, and Swiss DTA). It has a single format for all payment types — wires, drafts, domestic, international and even multi-currency.

Once the file is processed, an upload status file is returned to you. It contains status information about each of your payments and details of any fees and exchange rates.

You can see from the diagram below that the fx360 offering is intended to offer a simplified, closed-loop process for making all your payments:

Importing payment files with our file upload feature

Payment files generated from your ERP/accounting/TMS applications can be transmitted through either a manual upload within GlobalPay or through our secure FTP (SFTP) service. Both methods allow you to define your approval workflow.

For GlobalPay, the upload function provides instant validation of the uploaded payment transactions while the upload review function allows you to exclude certain transactions as pending. Remaining payments will be forwarded through your approval workflow. For SFTP delivery, you can select “Accept Entire” or “Accept Partial” file options, depending on whether you prefer to reject an entire file if there are any problems.

Files can be transmitted with full payee banking information or, for additional security, with just a unique Payee Identifier. Multiple payment types and currencies can be transmitted in a single payment file with support for both spot and scheduled payments.

In addition, your beneficiaries can receive an e-mail notification informing them that payments have been initiated. They will also have access to view and track their payments in a secure self-service portal.

File download feature for exporting gives you more control

With download/export statement file feature, you can receive comprehensive cash-flow level electronic statements, at intervals you define, on all payment transactions. The delivery can be via e-mail or through the SFTP service. These statements have been designed to integrate easily into your ERP/accounting system and can be reviewed by key personnel to support current business needs, such as managing supplier inquiries or reconciling payments. They can be delivered in any format supported by your payment application including:

  • MT940/942
  • Fixed Width
  • BAI
  • Character
  • XML Delimited

At the time of upload or on a schedule defined by you, the GlobalPay fx360 service delivers a detailed “upload status file” outlining the status of each transaction, including error reason indicating any errors within the file.

In addition to statement files above, GlobalPay can generate scheduled and ad hoc exchange rate files for currencies of your choice. These files can be loaded back into your ERP or accounting system to generate periodic budget rates for accounting purposes.

To learn more about how your business can take advantage of fx360 to streamline your payment process please contact us today.