Virtual Payments

Eagle Point Network’s Virtual Payment solution is a breakthrough in electronic funds transfers (EFT).  Virtual Payments replaces the issuance of paper checks and is superior to ACH and wire transfers. Virtual Payments eliminates hassles of EFT enrollment and works with existing Payee software.

The cost of issuing paper checks, EOB, EOP and mandated HIPPA 835 forms, is estimated by the Federal Reserve and McKinsey & Company to cost $2.45 - $6.65 per check issued. Virtual Payments consolidates all supporting documents and are sent when the payment is executed.

Previous stated cost estimates do not include lost checks, stop check, re-issuance fees and fraud. Reconciliation is also streamlined and achieving higher accuracy.

We have experienced a great deal of success in the insurance and healthcare markets. Virtual Payments are perfect for corporations, government entities, education, non-profits and associations.

A few of the benefits of Virtual Payments include:

• Easy & fast setup
• Security is unprecedented nearly eliminating fraud
• Fund transfer internationally are as easy as domestic transfers
• Fast. Delays in mail delivery, holidays, natural disasters and timing of delivery are
not a factor. Delivery is controlled by the Payer. Our system delivers 24/7/365.

Best of all, there are no transaction fees and you may be eligible to receive significant rebates!*
*Rebate amount or percentage is based on annual payment volumes of the Virtual Payment Solutions