How Hiveage Keeps Online Bill Pay Payments Digital and Secure with CheckAlt's Electronic Lockbox

Electronic Lockbox Keeps Digital Payments Truly Digital

In the world of small business invoicing, getting paid reliably and quickly is essential. Yet many small businesses (SMBs) have noticed a surprising problem: Customer payments that start digitally through their online banking bill pay platform are converted to paper checks, which are then mailed to the SMB. This disruption slows cash flow, creates manual work, and introduces security risks for the SMB. 

That’s where CheckAlt’s Electronic Lockbox solution comes in—keeping online banking bill pay payments fully digital and helping SMBs maintain momentum and keep cash flowing in a digital-first economy. 

challenge

The Challenge: Online Banking Bill Pay Payments Dropping to Paper Checks

Even though invoicing platforms make it easy to send bills and accept payments, many customer payments initiated through their bank’s online banking bill pay platform get converted into paper checks if the business isn’t connected to a biller network. For Hiveage’s SMB customers, this meant: 

• Unexpected delays: Paper mail is slow and dependent on the United States Postal Service.
• Reconciliation headaches: The SMB is forced to use manual effort to match paper checks to invoices. 
• Inherent risks: Mailed paper checks are at risk of becoming lost or succumbing to fraud. 

In the United States, billions of checks are still mailed each year, and for Hiveage’s network of 50,000 small businesses, more than half of their invoices wound up being paid offline. This hidden gap in the payments pipeline created friction in what’s supposed to be a streamlined digital process from end to end. 

solution

The Solution: An Advanced Electronic Lockbox to Keep Payments Fully Digital

To prevent these customer payments from converting to paper checks, CheckAlt integrated its Electronic Lockbox solution with Hiveage’s invoicing platform, which means: 

• Payments stay digital: When a Hiveage customer enrolls in Electronic Lockbox, they can now receive their customers’ payments made through online banking bill pay electronically, as intended.
• Seamless user experience: Hiveage customers no longer have to manually reconcile payments made through online banking bill pay.
• Stronger security: Keeping online banking bill pay payments digital reduces risks tied to lost or stolen checks.
• End-to-end integration: Electronic Lockbox is embedded directly into Hiveage’s invoicing workflow, making setup easy. 

By embedding CheckAlt’s Electronic Lockbox directly into Hiveage’s invoicing workflow, small businesses can now accept online banking bill pay payments digitally—eliminating paper check conversions, reducing manual reconciliation, and strengthening security. 

results

The Results: Faster Payments, Stronger Security, Improved Cash Flow

With CheckAlt’s Electronic Lockbox solution seamlessly integrated with the Hiveage invoicing platform, the benefits were immediate and measurable: 

• Faster payments: Businesses can get paid up to 70% faster compared to waiting on mailed checks.
• Improved cash flow: Faster receipt of funds means healthier working capital and better financial planning.
• Reduced manual effort: Less time spent reconciling checks means more time for growing the business. 
• Enhanced security: Transactions remain within more secure digital channels, reducing risk of fraud or error.  

One Hiveage customer, who previously spent hours each week chasing down and reconciling paper checks, now handles payments faster and with more confidence thanks to the Electronic Lockbox integration. 

Ready to Help Your Business Customers Get Paid Faster?

In a marketplace where agility and automation matter, keeping digital payments online isn’t optional—it’s essential. If you're ready to keep your customers’ online banking bill pay payments truly online, learn more about Electronic Lockbox and how it can transform your receivables process.