Nov 1, 2023
In today's rapidly evolving business landscape, companies seek innovative solutions to optimize their financial operations. One crucial aspect that demands attention is expense management. To find out more about this exciting topic, we spoke to Lauren Karklin, Qolo’s Senior Product Solution Manager, with a decade of payment industry expertise.
“As we transition away from a cash-based economy and embrace digital advancements, the need for enhanced control and reduced risk becomes paramount. This is where Qolo steps in, offering a revolutionary expense management enablement solution that empowers businesses with unprecedented flexibility and efficiency.”
Qolo’s INTERACT embedded processing functionality is a payments industry best – with embedded processing capabilities enabling clients to manage the payment authorization and funding processes for all payment types.
Here is how INTERACT Works:
- Empowering Custom Approval Logic: INTERACT enables clients to create and implement custom approval logic for every transaction. This real-time authorization logic allows businesses to approve or deny transactions based on their unique requirements. By retaining control over individual cards, merchant category codes (MCC), merchants, and transaction types, businesses can tailor the payment process to suit their specific needs.
- Determining Funding Sources: INTERACT introduces a game-changing approach to funding management. Instead of tracking individual card balances, businesses benefit from a streamlined system where a single funding account suffices. This innovative feature empowers clients to allocate funds strategically, optimize cash flow, and ensure seamless operations. The ability to select funding sources for each transaction, coupled with real-time funding capabilities, enhances efficiency and guarantees immediate access to funds whenever required. Say goodbye to complex balance tracking and hello to a simplified and dynamic funding model.
- Seamless Integration: INTERACT seamlessly integrates into Qolo's omnichannel platform, sitting below the payment and card layers. This integration provides clients with a comprehensive suite of features, including real-time funding, transaction controls, flexible pools of value, and seamless reconciliations. These essential functionalities ensure that businesses have the tools they need for efficient and secure financial management.
Qolo's INTERACT embedded processing stands at the forefront of payment innovation, revolutionizing the way businesses manage their transactions. Embrace the future of payment solutions with Qolo's INTERACT and elevate your financial management to new heights. Contact us today.