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Online Payment Processing

What is Online Payment Processing?

Online Payment Processing in TMS.ai lets customers pay their invoices directly through the platform using bank transfers or credit cards, without cutting checks or initiating separate ACH payments. When you send an invoice, customers receive a payment link that takes them to a secure payment portal where they can pay the full amount or partial payments. The money deposits directly into your bank account, and the invoice automatically updates to "Paid" in TMS.ai, eliminating manual reconciliation work.

This capability transforms invoicing from a one-way communication (you send, they eventually pay) into an actionable transaction. Customers appreciate the convenience of paying immediately rather than waiting for approval cycles, and your business gets paid faster with complete visibility into payment status.

How Online Payment Processing works:

  1. Verify eligibility requirements before setting up online payments. Your business must have a US address, US bank account, US business tax ID, and invoice in USD. The feature requires the Accounts Receivable Tier 1 and Payments Tier 0 modules.
  2. Connect your bank account by navigating to Settings and finding the Online Payments section. Admin users click "Connect your bank account" and complete the onboarding application through TMS.ai's payment partner. The application takes 5-6 minutes and requests your business details, bank information, and MCC code (4214 for carriers, 4215 for brokers).
  3. Complete the verification process which typically takes a couple of hours but may take longer if documents are missing or data doesn't match. You receive an email notification when your application is approved and payment processing is active.
  4. Send payment-enabled invoices through the normal invoicing workflow. Once your payment account is active, every invoice you send automatically includes a "Pay Now" link that customers can click to make a payment.
  5. Customer completes payment by clicking the payment link and choosing their preferred method: bank transfer (0.5% fee, capped at $10) or credit card (2.9% + $0.30 per transaction). They enter their payment information in the secure payment portal.
  6. Receive automatic payment confirmation when the transaction completes. The invoice status in TMS.ai updates to show the payment, and funds deposit into your bank account according to the payment method's standard timeline (bank transfers take 3-5 business days, credit cards typically 2-3 days).
  7. Track payment history in the Invoices board where you can see which invoices have been paid, payment methods used, and transaction details. This data syncs to your accounting system when you export invoices.

What it means for you:

Online payment processing accelerates cash flow by removing friction from the payment process. Instead of customers needing to log into their banking portal, find your invoice, set up a payment, and notify you (a process that might take days or weeks), they click one link and pay in under a minute. This convenience drives faster payment, especially from customers who want to pay but get delayed by their own internal processes.

The automatic status updates eliminate the manual work of tracking which invoices are paid. Your team stops chasing payments or checking bank statements to match deposits to invoices because TMS.ai handles that reconciliation automatically. Bank transfers give you a cost-effective option for large invoices where the 0.5% fee (capped at $10) is significantly cheaper than credit card processing. Credit cards provide instant payment for customers who need to use a card for their own bookkeeping or rewards programs. The result is improved cash flow, reduced accounts receivable aging, and less time spent on payment follow-up.