Deluxe Payment Exchange+

Score8 out of 10

9 Reviews and Ratings

What is Deluxe Payment Exchange+?

Deluxe Payment Exchange+ (DPX+) is an integrated payments solution for mid-size businesses that streamlines and automates AP disbursements. This disbursements platform is for companies that send over 250 monthly paper checks, excluding payroll, for recurring payments to suppliers and vendors.

Categories & Use Cases

Accounts Payable

Media

Screenshot of Payee choices in Deluxe Payment Exchange+

Electronic Funds Transfer
Funds can be transferred via EFT as opposed to paper checks.
Category average: 8.4
Payment Status Tracking
Tracks what stage payments are at in the process, from approval to receipt.
Category average: 8.8
Customizable Approval Policies
Policies for different types of approvals can be customized, sent to multiple approvers, automatically approved, etc.
Category average: 8.7

Betty Ramsland

Financial Analyst in Finance and Accounting at Virginia Green (201-500 employees employees)

Use Cases and Deployment Scope

We use the system to process checks from customers. The system is easy to use, and allows us to make updates to the information scanned in. We are also able to flag certain types of payments so that we can review for processing.

Pros

providing check images
history of payments
flexibility in payment reviews

Cons

sometimes information is scanned incorrectly

Return on Investment

it allows our company to offer multiple ways to pay
stores history of transactions, so we can pull reports for audits

Usability

Melanie Madamba

Administrative Director in Finance and Accounting at First Impressions (11-50 employees employees)

Use Cases and Deployment Scope

We started using Deluxe Payment Exchange+ when a customer had presented it to us for payment. There are multiple avenues for receiving payments, which is nice. I always prefer the lowest or no fees if at all possible. Honestly, I was kind of skeptical about printing our a check on regular paper but I have had absolutely NO issues with this fee-free method.

Pros

Fast payment
Multiple payment options
Excellent security

Cons

Better payment option explanation
Better login options

Return on Investment

Not waiting on AR is always a HUGE plus.
Fast turnover on receivables

Usability

Verified User

Employee in Finance and Accounting (201-500 employees employees)

Use Cases and Deployment Scope

We use this product for our lockbox and eLockbox needs. Our paper checks are mailed and processed by Deluxe and our electronic payments are processed through them, as well. We receive many paper checks as many of our customers are older and still write checks for their bills. We also receive a lot of electronic bill payments since we do not accept ACH payments ourselves.

Pros

Providing search options for researching payments
Working to get issues resolved quickly
Quick implementation

Cons

The same errors happen several times before it's actually fixed
Processing errors by staff, maybe due to turnover or new people taking over our payments
More typos than I would like

Return on Investment

Saves a lot of time for our AR employee
Makes payment processing more streamlined and efficient
The ability to track and research payments electronically is amazing. If we had to keep track of all the checks ourselves, that would be a mess

Usability

Verified User

C-Level Executive in Finance and Accounting (51-200 employees employees)

Use Cases and Deployment Scope

Deluxe Payment Exchange+ has been a game changer for our organization. It gives us the ability to issue a check and have it signed by our CEO when she is traveling - and the processing time is awesome. Once the check is uploaded in Deluxe Payment Exchange+ and the CEO has reviewed it and the back up and signed the check it is immediately delivered to the payee via email!

Pros

allows check signors to sign checks when they are traveling
allows vendors to received payment same day
eliminates the need to mail payments via snail mail

Cons

the ability to set up multiple check signatures depending on who is signing the check
Deluxe Payment Exchange+ to sell check blanks that we could use if we want to have the check emailed back to the company and print out a paper check
More space on payee line

Return on Investment

shortened payment turnaround time
increased internal controls over check writing
added flexibility to our payment options

Usability

Other Software Used

MIP Fund Accounting

Verified User

Administrator in Human Resources (51-200 employees employees)

Use Cases and Deployment Scope

I use Deluxe Payment Exchange+ to pay vendors that are not part of our regular payables cycle.

Pros

Ease of use
Universal acceptance
Secure way to pay.

Cons

More promotion

Return on Investment

Faster payment
Trusted source

Usability

Alternatives Considered

QuickBooks Online

Other Software Used

QuickBooks Online

BILL

AvidXchange

Yooz

Deluxe Payment Exchange+

What is Deluxe Payment Exchange+?

Categories & Use Cases

Media

Key Features

Top Performing Features

Electronic Funds Transfer

Payment Status Tracking

Customizable Approval Policies

Areas for Improvement

Reviews

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Other Software Used

Use Cases and Deployment Scope

Pros

Cons

Return on Investment

Usability

Alternatives Considered

Other Software Used

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