I have been invited to solicit the following concept for feedback.
We are a startup in Canada called Canven. The concept I am proposing would combine and offer a custom app that would link the ERPNext payment process with a low cost payment network. Canven would develop the App and the low cost payment network (in partnership with banks that have access to the appropriate payment networks).
The concept would work as follows:
A user of ERPNext wanting to pay a series of invoices would use the custom developed App to select the invoices for payment. Instead of cutting a cheque, the App would initiate a payment batch to the financial institution. The financial institution would debit the ERPNext users account and remit the funds to the appropriate vendors. The financial institution would then post back into the ERPNext software that the payment was complete. Still working out security considerations. Initial markets at launch would be US & Canada.
The intent is to develop a low cost payment network and a App for selected ERP software making the electronic payment process more efficient and less expensive.
Any feedback, questions or comments are appreciated.