B2B Payments

Zipmark Moves Into B2B Payments World

The payment process between two businesses isn’t always simple. Enter: Zipmark.

Created in 2010, Zipmark is a digital payment service allows organizations to use an electronic check process that will transfer funds the very next business days. Over the last few years, the company has grown in strength. Last June, it announced a partnership with IMPACTorg, a consortium of more than 30,000 small and medium-sized independent businesses.

According to founder Jay Bhattacharya, Zipmark eliminates the need for companies to have to go through a holdings account.

"We wanted to collect all the information about a transaction, understand the intent of the payer, and from that point draft a check from the payer’s account and submit a credit to the merchant,” Bhattacharya told Forbes. “Our payment will clear and settle by the morning of the next day, which is very helpful for growing businesses."

Additionally, Bhattacharya said more New York companies have significant payables on a daily or weekly basis. Businesses can integrate the Zipmark API for real-time payments or use a secure file upload process for daily batch files. Essentially, instead of using a manual-input ACH process from a bank or ACH provider, organizations can use Zipmark by integrating their API with their business systems, the CEO explained to the news source.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

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