R12: Understanding What the Oracle EBS "Payments" (IBY) module Is, and What It Does?

Definition

The Payments module (IBY) is a payment engine designed to work with multiple Oracle E-Business Suite products in order to facilitate the receipt of, issuance of, and management of, customer receipts and batchedsupplier payments. 

NOTE:  The term "supplier payments" includes payments to several types of "creditors", including external suppliers, expense payments to employees, refunds to customers, and (in the Payments Workbench) refunds received from creditors. 
NOTE:  As with earlier versions of Oracle Payables, single payments ("unbatched" payments to a single creditor) are still made through the Payments Workbench form in the Oracle Payables module.  

General Features of the Payments Module (IBY)

Funds Capture Features

Funds Disbursement Features

Refer this article for more details in Oracle Support website:

R12: Understanding What the Oracle EBS "Payments" (IBY) module Is, and What It Does [ID 1391460.1]