Making and receiving payments is not the focus of most businesses, but it is a necessary part of running every business effectively. Unfortunately, many small businesses are not well informed about the "payments biz" and miss out on opportunities to improve their bottom line as a result.

Allow a payments expert to walk you through the basics of using electronic payments and remittance methods. Learn what choices exist, which methods to use and when, risks and costs, timing of settlement, and other critical information. Become conversant on payment terminology and learn where to locate resources you can share with your small business clients. Writing checks is old school: they are expensive, inefficient, slow down collections, and are prone to fraud. Electronic payments boost bottom lines and free up time for more profitable pursuits.

About the Presenter- Claudia Swendseid is Senior Vice President of the Federal Reserve Bank of Minneapolis. She serves on the Bank's Management Committee & has responsibility for FedACH operations & application development, Information Technology, the Customer Contact Center, & the Payments Information & Outreach Office.

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