Miles Busby, General Manager It may sound surprising, but it’s true––approximately 60 percent of all corporate payments in the U.S. still transpire via checks, a cumbersome, time-consuming, and manual process. Slipstream Financial is on a path to change this practice with its innovative digital solutions that transform how businesses manage transactions and propel them into the modern age of seamless, secure, and efficient payment systems.
Specializing in B2B transactions, Slipstream’s versatile bill payment system consolidates a company’s billings into one easy-to-use platform and executes those payments on their behalf. The platform offers a smart virtual card option designed to help companies move from check-based payments to a more efficient payment method, not only simplifying the process but enabling them to earn cash through interchange rebates. This innovative approach subtly merges payment obligations with financial benefits, converting the traditional accounts payable department into a source of positive cash flow.
For example, if an insurance company has to pay a third-party service provider for an appliance repair, they can make direct payments to vendors via an instant card, which is credited to their digital wallets like Apple or Google Wallet. No checks, no hassle.
But it’s more than just that. The flexible platform also provides a range of payment solutions, including an advanced ACH, the new FedNow, a corporate card program, and more.
The company’s cloud-based Payment Hub, hosted on Amazon Web Services (AWS), is a powerful system that allows financial institutions and corporate clients to manage approvals with ease while complying with PCI and other security standards. The pandemic brought about a surge in remote work, emphasizing the challenges associated with payment approvals. Many popular accounting systems do not offer online approval functionalities. However, Slipstream’s Payment Hub makes payment routing and approvals seamless. Whether a thousand dollars or $500,000, customers can approve payments online from anywhere.
The hub represents a harmonious synergy of tech and finance. Whether businesses are anchored to SAP, Sage, QuickBooks, or any ERP system, payment files can easily be uploaded and processed. The benefits are manifold, from determining the best payment mode for a particular vendor to comprehensive reconciliation, all integrated into one platform.
The system is also highly secure. Transitioning from checks to ACH payment can be a complex manual process, where businesses need to save a customer’s or vendor’s sensitive account-related information. They don’t want to incur the potential liabilities associated with this method.
“Our portal securely stores payment data, and we also offer a feature that assists clients in enrolling their customers into an ACH payment system or virtual card instead of a check,” says Miles Busby, general manager of Slipstream Financial.
Our portal securely stores payment data, and we also offer a feature that assists clients in enrolling their customers into an ACH payment system or virtual card instead of a check 
Ensuring thorough reconciliation for its customers, Slipstream Financial allows them to easily retrieve a monthly payment reconciliation report, simplifying their financial oversight and improving accuracy in financial management. There are no maintenance fees or additional charges.
The company’s reach is extensive, permeating various sectors, such as fintechs, telecom expense management, and corporate accounts, beyond banks and credit unions. Slipstream Financial’s portal offers a white-label solution, allowing fintech and telecom expense management companies, as well as regional and community banks, to leverage its advanced technology. This levels the playing field for smaller institutions and empowers them to offer state-of-the-art payment services to their customers.
Slipstream significantly impacted a North Carolina construction contractor’s payment operations by transitioning them from a 95 percent check-based payment system to a digitalized one, utilizing virtual card and ACH payments. This not only optimized the contractor’s payables but allowed them to generate an additional income of over $46,000 a month.
Slipstream also offers a free 90-day trial, ensuring companies can use its system without feeling trapped in an unwanted commitment.
With a legacy spanning 35 years, Slipstream provides advanced payment solutions and equips clients with the knowledge to confidently navigate their financial decisions.
