Cherry Net
CHERRY is a B2B payment processing solution that integrates accounting software with bank payment platforms, automating and securing transactions.
Services
CHERRY provides a B2B payment processing solution that interfaces existing accounting software applications with bank payment platforms. The service focuses on automating payments, eliminating manual processes, and syncing transaction-related data directly from the accounting software to the recipient. It supports multiple types of payments including ACH, RTP, wire, and card payments. Additionally, CHERRY offers enhanced security features like multi-factor authentication, BEC & takeover security, and automated positive pay.
Products
CHERRY offers a range of products designed to streamline and automate payment processes. The flagship product is the vCheck, a virtual check that can be reviewed and approved digitally before being submitted for processing by the user's bank. The platform includes a plugin that allows users to make payments directly within their accounting application without logging into their bank. This plugin also auto reconciles bank transfers with the accounting software once a vCheck is processed and funds are transferred by the bank.
Technology
CHERRY's platform operates using PHP (Laravel) and PostgreSQL, and it is hosted on AWS cloud infrastructure. The technological stack ensures robustness, scalability, and security, catering to the complex needs of B2B payment processing. The platform supports automation of payments and eliminates duplicate data entry, thus streamlining transaction approval controls within existing accounting workflows.
Security Features
CHERRY places a high emphasis on security to protect the users' payment processes. The platform includes multi-factor authentication and BEC & takeover security to safeguard against unauthorized access. Enhanced transaction metadata is another feature that ensures each transaction's integrity and authenticity. CHERRY also provides automated positive pay and payee name verification, adding essential layers of security to the payment process.
Partnerships and Integrations
CHERRY collaborates with financial institutions and accounting agencies to improve the payments process and eliminate manual tasks. These partnerships help bridge the gap between software applications and payment solutions, providing transparency, security, and convenience in payment automation. By integrating with existing accounting software, CHERRY facilitates seamless and secure payment processing, contributing to more efficient financial operations.