My company, Invoiced, supports routing payments across different processors/merchant accounts. There are many interesting use cases for it within the billing space beyond just cutting transaction costs.
One common use case we see is trust accounting for lawyers. The gist of it is that trust and operating funds are stored in separate bank accounts, depending on the context of the bill. It’s a legal requirement that can result in disbarment if not followed properly.
Another scenario we run into is with insurance billing where policy payments need to go to different bank accounts or even be handled by a different processor, depending on the policy.
I know of other software systems that can do payment routing as well.
One common use case we see is trust accounting for lawyers. The gist of it is that trust and operating funds are stored in separate bank accounts, depending on the context of the bill. It’s a legal requirement that can result in disbarment if not followed properly.
Another scenario we run into is with insurance billing where policy payments need to go to different bank accounts or even be handled by a different processor, depending on the policy.
I know of other software systems that can do payment routing as well.