Xign Corporation announced the Xign Payment Services Network (XPSN), the first comprehensive B2B payment and settlement service addressing the need for financial supply chain management. With this solution, Global 1000 organizations can streamline financial settlement processes to cut costs and reduce excess working capital. In conjunction with this announcement, Xign also announced new fully deployed users of the XPSN, including Sprint Corporation, Charles Schwab & Co. Inc., and VoiceStream Wireless. XPSN is a comprehensive business-to-business payment and settlement service that links the accounts payable and accounts receivable processes of buyer and supplier organizations via a collaborative, Internet-based application suite. The solution consists of enterprise-class financial applications managing the exchange of payment and settlement information and a set of collaboration services for trading partner enrollment, vendor management, and dispute resolution. In addition, the XPSN will support financial clearing services, including bank-provided ACH processing and credit services.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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