We are thrilled to introduce two new updated features that will change the way you collaborate and track your expenses.
Stay proactive with this new team banking feature as initiators now have the option to cancel an initiated transaction.
We’ve also added a bill payment history feature. Here, businesses can see a history of all the bills they’ve paid. For instance, when paying for a utility bill such as electricity, you can check your token and even download your payment receipt directly from the mobile app and web.
Why Cancel A Transaction?
Initiators may realize that they made a mistake when initiating a transaction, such as entering the wrong amount, selecting the wrong payee, or choosing an incorrect account. The ability to cancel the transaction allows them to rectify the error promptly without waiting for the approver to decline it.
With this update, initiators no longer need to wait for the approver to deny transactions which makes the payment process less time-consuming and allows for quicker decision-making.
How To Cancel An Initiated Transaction Through Team Banking
Here’s a guide on how to cancel a transaction through the team banking feature.
1. Individual Transaction Cancellation
Transactions can be cancelled individually by selecting the transaction and simply selecting the ‘cancel payment‘ option at the bottom.
2. Bulk Transaction Cancellation
All transactions can also be cancelled at once by selecting the three dots at the top right of the page and selecting on the ‘cancel all’ option.
3. Multiple Transaction Cancellation
You can also select multiple transactions to be cancelled at the same time.
How To Use The Bill Payment History Feature
The Bill Payment History feature provides a detailed and organized record of all bill payments made through the Lenco platform.
- To view your bill payment history, go to the bill payment segment through your Lenco app or web.
2. Select the particular payment you want to generate a receipt for.
3. You can either save or share your receipt.
We trust that these new features will contribute to simplifying your expense management. Whether it’s the ability to cancel transactions swiftly or the convenience of accessing a comprehensive bill payment history, our aim is to empower you with the tools needed for seamless financial collaboration.
Feel free to contact us with any questions you may have! We are more than happy to assist you.