Banking and payments technology provider linked2pay has added the real-time payments platform from Push Payments to its services for bank clients.
The Bank Centric Payments platform from linked2pay will now enable banks to offer branded real-time and Automated Clearing House payments through linked2pay's white-label service. The companies view the timing of this collaboration for real-time payments service as a key for banks, as the country's push for faster payments and, most recently, a same-day ACH option, has been accelerated.
The real-time funds transfers from Fort Lauderdale, Fla.-based Push Payments will allow banks to offer business and merchant clients various use cases, including corporate disbursements for contractors and services; insurance claim payouts to providers; commission and reward disbursements; account-to-account transfers; loan disbursements; and business-to-consumer payments or fund transfers.
"This gives merchants a new feature within a platform they already use for payments," Richard McShirley, chief marketing officer for Oxnard, Calif.-based linked2pay, said in a Nov. 15 press release. "It also gives them control over the speed of a payment based on the type of transaction so that the speed can match the urgency."
Two months ago, linked2pay added automatic ACH approval for merchants registering for the same-day ACH service. The company said the new process would cut several days off of the registration process for merchant accounts.