Transcard Rolls Out Smart Disburse System For Businesses, Banks, FinTechs

Payments and technology solution provider Transcard rolled out a way for FinTechs, banks and companies to harness different payment rails or payment types to pay vendors and consumers, according to a Thursday (July 15) announcement emailed to PYMNTS.

The Software-as-a-Service (SaaS) offering, which is called Smart Disburse, directly links with legacy software, bank application programming interface (API) layers or enterprise resource planning (ERP) software to provide an environment for sending single or mass payments, the announcement stated.

Users can immediately make a payment, or set a time for one, by way of Mastercard Send, real-time payments, virtual card or automated clearing house (ACH), among other payment methods, according to the announcement.

“Smart Disburse helps drive digital transformation by disbursing all types of payments, including real-time payments, while facilitating the seamless exchange and real-time reconciliation of rich remittance data,” Transcard CEO Greg Bloh said in the announcement. “This changes how payments get made.”

Built-in payments functionalities let users send money straight from familiar screens within their legacy software or ERP platforms. Moreover, direct integration enables the live reconciliation of payments data without intervention, taking away the need to type in payments data again or log in or out of different platforms, according to the announcement.

Transcard said in the announcement that Smart Disburse is relevant to different applications, such as payroll, vendor payments, emergency payouts, patient refunds, reimbursements, dividend payments, legal settlements, customer rebates and claims payouts, among other use cases.

“Smart Disburse provides unmatched flexibility and control for paying suppliers and individuals,” Transcard President Chris Fuller said in the announcement. “Transcard is excited to bring to market an innovative platform that combines multi-rail payments capabilities, seamless integration with any legacy software, ERP application or bank API layer, and automatic real-time reconciliation of data.”

As PYMNTS previously reported, companies need solutions that can integrate seamlessly and link payments with transaction data in the moment as the pressure increases for entities to optimize their accounts payable (AP) and accounts receivable (AR) processes.

Even though the ERP would appear to be a logical place for that kind of functionality to surface, the legacy solution has struggled to make it a reality. Bloh spoke with PYMNTS this month about this ERP dilemma.