B2B Payments

Chase, Workiz Add Same-Day Payouts For In-Field Workers

Chase, Workiz Add Same-Day Payouts

In-house payments processing solution provider Workiz is targeting the field worker arena with its newest solution, WorkizPay.

The tool, announced via press release on Thursday (Dec. 5), allows field service professionals to more quickly receive their payouts. Professionals who bank with Chase can receive payouts same-day, while those banking with other providers will see their payouts in two to three days. WorkizPay also integrates these workers' invoicing processes with credit card processing in-field.

The solution, which is powered by Chase Bank's WePay, aims to address the cash flow challenge that in-field professionals face as a result of deferred payments. It also targets the integration hurdle that industry players face when professionals deploy a range of solutions to manage finances and other processes, including invoicing and booking.

"We are constantly expanding the Workiz platform to help tradespeople become more successful business professionals," said Workiz CEO Adi Azaria in a statement. "WorkizPay allows our customers to get among the fastest and most competitive payout rates in field service, with same-day payouts for Chase Bank customers. We're thrilled to offer field service professionals the ability to run their business within a single platform without having to worry about APIs or integrations, saving them time and money."

WePay, which was acquired by Chase in 2017, also recently announced it is powering payment processing within Invoiced, an accounts receivable platform. The partnership enables businesses using Invoiced to both issue and receive payments on their invoices via cards and ACH.

Last month, small business accounting platform FreshBooks similarly revealed an integration with WePay, also with a focus on same-day deposits. That partnership enables FreshBooks Payments, which connects small business users with Chase bank accounts to receive funds same-day when clients make payments.

“This is a historic time for small businesses who have never been able to receive their funds so quickly,” said Mike McDerment, CEO and co-founder of FreshBooks, in a statement at the time. “After years of advocating for the needs of small businesses, the FreshBooks team is proud to deliver same-day deposits to market for our customers.”



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.