Family-owned Convenience Store and Grocery Wholesale Distributor Adds New Online and Automatic Debit Payment Options Powered by FTNI’s ETran Integrated Receivables Platform
Financial Transmission Network, Inc. (FTNI), a provider of industry-leading integrated receivables, payment processing and cash application solutions, announced that Hardec’s, a leading regional distributor of convenience store, concessions and grocery wholesale items, has launched a new customer-facing online payment portal and automatic debit solutions powered by FTNI’s ETran integrated receivables platform.
Family-owned and based in Hardin County, Kentucky since 1956, Hardec’s services the concessions, convenience and grocery wholesale markets. Hardec’s foundation was built upon delivering genuine customer service and a company-wide commitment to providing customers the products they want with total satisfaction.
As convenient, contactless payment options have been steadily increasing in demand, Hardec’s is now able to deliver their customers with a secure online payment option through the use of FTNI’s fully-hosted online payment portal. Customers will be able to conveniently access the online portal from Hardec’s website. Upon completing a simple registration process upon first sign-in, Hardec’s customers will be able to securely view and pay open invoices via ACH or credit card, store payment methods for future use, and view past payment history.
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Hardec’s is also adding the ability to set up automatic recurring payments through FTNI’s AutoPay solution. Based on customers’ unique payment terms and open invoices, FTNI’s AutoPay solution is able to facilitate automatic recurring ACH payments. Once set up, the payment amount will be withdrawn from customers’ bank account at the time dictated by each customer’s unique payment terms. Customers will also receive an emailed statement with the total amount and paid invoices. FTNI’s AutoPay feature also facilitates configurable payment parameters if multiple invoices need to be paid outside of a customer’s regular recurring payments.
“The addition of new online and automatic payment solutions will allow us to give our customers convenient, contactless, secure ways to make payments, while also accelerating our internal receivables processes,” said Dan Schlaug, controller, Hardec’s. “The ability to deploy these new payment acceptance capabilities from a single, cloud-based platform that integrates with our back-office system is a big win for us, and ultimately our customers as well.”
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Currently being used by leading companies across numerous industries in the U.S. and Canada, including a fast-growing customer base in the broader distribution space, FTNI’s ETran platform has been proven to increase the speed at which companies’ internal A/R teams can process and post payments by as much as 80%, while also reducing DSO by more than five days in some cases.
ETran’s agnostic, ‘plug-n-play’ nature works with existing bank and merchant processor relationships and supports efficient integration, either batch or real-time, with any back-office system.
“FTNI is proud to partner with Hardec’s as they continually seek to increase customer convenience and evolve their operations to streamline accounts receivables processes,” said John Karhoff, vice president of sales, FTNI. “Hardec’s adoption of ETran’s online payment and AutoPay solutions is a great example of how leading distributors can utilize seamlessly integrated payment processing and automated cash application solutions to modernize internal operations while simultaneously improving customer experiences.”
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