An Electronic Payment Primer: How Savvy Companies Now Pay Their Bills (ACH, Wires & Instant Payment)

4 Credits: Accounting


Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

 Secure Transaction

An Electronic Payment Primer: How Savvy Companies Now Pay Their Bills (ACH, Wires & Instant Payment)

Course Level
CPE Credits

4 Credits: Accounting

Course Description

Before this course, the transition to electronic payments might seem daunting, with challenges in implementation and fraud prevention. This course, instructed by Mary Schaeffer, acts as a bridge to mastering electronic payments in an increasingly digital world. After completion, participants will transition from uncertainty to proficiency in managing electronic payments. You’ll learn how to create and grow an ACH payment program, effectively switch suppliers to electronic methods, and understand the intricacies of wire transfers and Instant Payments. The course also empowers you with strategies to combat the growing issue of electronic payment fraud, integrating best practices into your payment processes. This transformation equips you with the expertise to navigate the electronic payment landscape confidently, ensuring secure, efficient, and cost-effective transactions for your organization.

Show More
Show Less

Learning Objectives

Learning Objectives:

After Completing this Course, you will be able to:

  • Identify the reasons why paying electronically benefits an organization
  • Pinpoint issues to be considered when setting up an electronic payment program
  • Create a basic ACH payment program for an organization
  • Build an effective strategy for converting suppliers to the program
  • Identify effective strategies to grow your ACH payment program
  • Develop an effective strategy for converting suppliers to the program
  • Understand the different types of payment fraud currently being perpetrated
  • Develop an effective strategy to combat electronic payment fraud
  • Develop a Best Practice ACH payment initiative
  • Avoid worst practices as well as hidden pitfalls when setting up an ACH payment program
  • Develop solutions to deliver remittance data to suppliers
  • Understand the work done by the Federal Reserve and the Business Payment Coalition to address the remittance issue
  • Develop a best practice approach to using wire transfers
  • Integrate fraud detection techniques into everyday procedures for making payments
  • Identify instances where ACH payments can be used in place of costly wire transfers
  • Understand how Instant Payments Work
  • Develop a fraud protection plan to prevent criminals from defrauding you using your Zelle account
Show More
Show Less

Course Specifics

Course ID
Revision Date
October 13, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Mary S. Schaeffer Headshot

Mary S. Schaeffer, MBA, has the inimitable ability to find accounts-payable-related solutions that really work—without making a major dent in the bottom line. Armed with a degree in math and a graduate degree in finance, she takes a “roll up your sleeves and dig into the details” approach to finding solutions to those problems that cause migraines for CFOs, controllers, and managers. Fifteen years spent researching and writing about payment issues gives Mary a unique vantage point. Combine that with an almost equal amount of time spent in the corporate trenches of several large finance and treasury departments, and you’ll understand …