About the Integration:
Oracle Payments is a new
product in release 12. The product known as iPayment will no longer exist in
release 12, however all functionality that existed in it is contained within
Oracle Payments.
The objective of the new
product is to give any deploying company a highly configurable and robust
solution to disburse and receive payments. Oracle Payments is a fundamental
part of the Oracle Applications architecture, and is provided with multiple products
that require support for payment processing services.
Oracle Payments provides
the infrastructure needed to connect other products with third party payment
systems and financial institutions. The product supports a number of payment
features. Some features support just disbursement, some just capture, and other
features are common to both.
In iReceivables we can pay for the customers invoices . After
selecting the payment method ( Bank Transfer / Credit Card Payment) a receipt
would be created in AR . In earlier releases for the capture of funds the
iPayments extensions were used .
iReceivables would now call the Oracle Payment API’s for the
funds capture. This is entirely in the background and there are no visible
changes in the iReceivables user interface because of this integration.
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