Connect & Pay

Pay instantly, deliver faster and optimise your working capital!

The benefits of Connect & Pay in a nutshell:
 
  • Faster and automated reconciliation process
  • Faster and automated payment process
  • Optimisation of your working capital
  • Elimination of potential human error
  • Reduced risk of internal payment fraud

In our instant world, customers want to be paid immediately, and expect services and goods to be delivered in the blink of an eye.
KBC Connect & Pay
helps your company meet these customer expectations.

What is Connect & Pay?

Connect & Pay is an API that allows users to make instant credit transfers and access account information in real time.
You can integrate Connect & Pay into your own system, software or application to make automatic, instant payments to your customers, and to automate and accelerate your production and delivery processes.

1. Instant payment and fast delivery

1.1 Instant payment

You can make instant credit transfers to customers directly from your own software, fully automatically and according to your own conditions. The payment will show up in your customer’s account immediately, even if it was transferred at night or the weekend.

A few examples:

  • Your company pays premiums or fees to customers and would like these payments to be made instantly and fully automatically.
  • Your company wants to pay employees automatically and immediately for services provided.
  • You want to pay your suppliers immediately and automatically when goods are delivered or when they are ready to be released.
  • Your company rewards its customers in the form of cashbacks and would like to take the customer experience to the next level by making the cash immediately available to the customer.

1.2 Faster delivery

Connect & Pay links payments received in your KBC accounts to production and delivery processes within your company, which leads to faster and more automated processes.

A few examples:

  • Your company has an online store and wants to deliver orders faster to customers who pay by bank transfer or invoice. Connect & Pay allows you to initiate the delivery process automatically and immediately on receipt of the payment. This is a double-win: your customer will be happy and you can rest assured that you will receive your payment.
  • Your customers want to receive their orders as quickly as possible. To save time, you want to launch the production process immediately on receipt of the payment (or advance payment). With Connect & Pay you can do just that.
  • You run a company in the export business. When you use Connect & Pay, you can automatically release the goods once your customer has paid for their order. This reduces counterparty risk and allows you to access new markets.

2. Optimise your working capital

2.1 Efficient invoice management

Companies spend a significant amount of time following up on outstanding invoices. Connect & Pay gives your company access to account information in real time, so you can see immediately which invoices have been paid and which ones need to be followed up on. This allows you to reduce the number of outstanding invoices and get the most from your working capital.

A few examples:

  • At the end of the month, your company sends out payment reminders to customers who have not yet paid their invoice. With Connect & Pay you can send these reminders based on the most recent account information.
  • Real-time reconciliation enables efficient follow-up of outstanding invoices. When you contact the customer asking them to immediately pay an invoice, the customer can no longer use the excuse that they have already paid or that the payment is on its way.
  • Your company can temporarily suspend a customer’s subscription when they fail to pay their invoices. Once you’ve received the customer’s payment, the subscription can be reinstated immediately and fully automatically.

2. 2 Real-time treasury management

Your treasury is ready for the future with Connect & Pay. Money can be transferred and received 24/7. Your bank account balance is constantly changing.
You want to automatically reconcile your account as soon as you receive a payment. You can invest surplus cash immediately. Connect & Pay gives your company access to account information in real time, so you can easily monitor all inbound and outbound transactions, and the balances of your KBC accounts.

A few examples:

  • Just-in-time payments: Connect & Pay allows you to make SEPA instant credit transfers 24/7 and fully automatically, thereby eliminating cut-off times.
  • If you integrate Connect & Pay into your own treasury management software or ERP system, you can monitor your KBC account transactions and balances in real time. This will help you maximise your financial income and minimise credit fees and charges.

FAQ

What is an API?

An API (Application Programming Interface) is a type of gateway that allows your website, services or applications to interact with external software components, whereby you can specify a fixed set of rules and expected responses.
In the case of Connect & Pay, this means your company can send KBC payment nstructions (request). KBC immediately processes your payment and confirms that it has been processed (response). If you ask KBC for an overview of your transactions and balances, you will immediately be able to view all your inbound and outbound transactions, and your account balance.

What are instant credit transfers?

Instant credit transfers are carried out and processed immediately. Beneficiaries receive their money in seconds and the amount in question appears on their account right away.
They can be made 24/7, including at night, during weekends and on public and bank holidays. Instant credit transfers are only available through banks participating in this scheme.

What is real-time account information?

Real-time account information means you can view the most recent transactions on and balance of your KBC accounts at all times. This ensures that you are always up to date and can link current activity to inbound or outbound transactions, and allows you to take immediate action if your account balance goes above or below a certain amount.  

Want to learn more?

 Would you like to know more about Connect & Pay? Then your KBC contact will be happy to help you.

Contact your relationship manager