FT. LAUDERDALE, Fla., April 8, 2013 (GLOBE NEWSWIRE) -- Direct Insite (OTCBB:DIRI), a leading provider of cloud-based e-invoicing solutions for Accounts Payable, Accounts Receivable, and Payments services, today announced that the Company signed a customer contract with a leading financial services company. The three-year contract is valued in excess of $700,000.
The financial services company will deploy Direct Insite's Invoices On-Line PCI Certified Payment Services and extended user profile management to enable customers to make secure electronic payments using the Automated Clearing House (ACH) Network. The Invoices On-Line platform initially will process more than 30,000 payments per month on behalf of the financial services company's 10,000 customers.
Allowing its customers to make electronic payments via Invoices On-Line will significantly streamline the financial services company's payment process and accelerate its cash flow."This application of Invoices On-Line will extend our electronic payments processing capabilities, immediately increase our transaction volumes, and establish us in a new vertical within the financial services industry," said Direct Insite President, Chief Executive Officer and Director Matthew E. Oakes. "Our customer will benefit from reduced transaction processing costs and faster cash flow, as well as a world-class level of security within our PCI certified infrastructure." Invoices On-Line's PCI Certified Payment Gateway supports the secure disbursement, receipt and processing of payments via credit card, p-card or the ACH Network. Users can schedule and pay one or many invoices via the Invoices On-Line service. Payment remittance information is automatically synchronized with Invoices On-Line and the client's back-office and enterprise resource planning (ERP) systems. About Direct Insite Direct Insite Corp. delivers cloud-based e-invoicing solutions for AP, AR and payments automation. For nine years, Direct Insite has built a track record in automating some of the most demanding financial environments, including the shared services organizations of Fortune 3000 companies. Today, over 300,000 suppliers and customers use our e-invoicing network across 100 countries (representing more than 35 currencies and 17 languages). Direct Insite's Invoices On-Line (IOL) suite simplifies AP and AR processes such as: electronic invoice distribution and submission; purchase order submission, distribution and acknowledgement, invoice processing and validation, line-item matching, approval routing, invoice consolidation, dispute management, e-payment processing, and reporting and analysis. To learn more, visit www.directinsite.com. Invoices On-Line is a trademark of Direct Insite Corp.