Allied Payment Network, an online payments company in Fort Wayne, Ind., released a new platform for small-businesses payments.
The new product, known as BizPay, includes centralized functions for a range of account services, including bill payment, payroll transfers and invoicing.
BizPay can be integrated as an add-on to a bank's current small-business payment system, or installed as a standalone product. The service adds no ACH risk exposure, since customers send electronic payments with guaranteed funds, the company said in a Nov. 13 press release.
"Small businesses have several of the same payment needs as retail [banking] customersthey pay electric bills, utility bills, phone bills and credit card bills," said Ralph Marcuccilli, Allied's president and chief executive, in the release.
The company in March integrated video and chat features into its mobile payment apps.