How does Procore Payment Services, Inc., protect payor funds from co-mingling?
General Availability in Select Markets (United States)
Procore Pay 
is available in the United States. It is designed for General Contractors and Owner-Builders who act as their own General Contractors on a job. Procore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors.Answer
Procore Payment Services (PPS) utilizes FedWire drawdowns initiated from its "For Benefit Of" (FBO) account to help ensure accurate tracking of our Procore Pay clients’ funds. Here's how it works:
- Direct Bank Authorization: When a payor authorizes a disbursement, PPS, sends a unique wire request directly to your funding account.
- Individual Tracking: For secure transfer of your authorized disbursement funds, your funding account's bank must confirm your funds transfer to the PPS FBO Account.
- Dedicated Disbursement: Once confirmed, the PPS FBO Account generates a unique request for each payment order in the authorized disbursement to send each invoice payment to the appropriate beneficiary's bank account.