Banking payments platform provider linked2pay wants to help financial institutions implement real-time payments capabilities.
The company said Tuesday (Nov. 15) that banks using its Bank Centric Payments platform will now have access to real-time payments thanks to a collaboration with Push Payments. Their partnership will allow financial institutions to offer real-time and same-day ACH payments as a white-labeled solution, reports said.
Linked2pay pointed to B2B payments as a particular area that could see positive disruption from faster payments initiatives. The firm cited business payments to contractors and vendors or loan disbursements as a few of the use cases for real-time funds transfer.
“This gives merchants a new feature within a platform they already use for payments,” said linked2pay CMO Richard McShirley. “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.”
In a statement, Push Payments CEO Travis Dulaney said the market is ready to adopt real-time and faster payments capabilities.
“The consolidation of risk management and payment solutions on the Bank Centric Payments platform is ideal as a host environment,” he said. “It gives our mutual bank and channel partners an extraordinary real-time and ACH value package as they promote faster payments.”
Linked2pay’s latest feature follows the addition of streamlined onboarding and automated merchant approval services within its Bank Centric Payments platform. Announced in September, the features enable a simpler way to add ACH and remote deposit capture for card merchants, the company said at the time.
In April, linked2pay also announced an integration with Chargent, which processes payments within the Salesforce AppExchange marketplace. The integration, linked2pay said, aims to enable ACH and card payments for merchants that need both B2B and B2C payments solutions.