paymentscan
PaymentScan is a term used in fintech to describe a set of software tools and workflows that automatically extract, interpret, and route payment-related data from various inputs. These inputs can include electronic invoices, shopping receipts, bank statements, and QR codes. The goal of PaymentScan is to accelerate payment processing, improve data accuracy, and enable automated reconciliation across disparate financial systems.
Typically, PaymentScan relies on optical character recognition and document understanding, combined with data extraction and validation
Applications of PaymentScan span merchants, banks, payment processors, and enterprise financial teams. It supports faster settlement,
Variants and challenges exist across implementations. Some systems focus on invoice scanning, while others target point-of-sale