VoPay Debuts Cash Management Platform TXB

Embedded payments technology company VoPay has debuted a digital transaction and cash management platform.

Dubbed TXB, the platform is designed to help banks and credit unions launch “API-first transaction banking and cash management services,” VoPay said Wednesday (May 29).

“In the rapidly evolving landscape of transaction banking, businesses demand solutions that are efficient, agile, and adaptable to their unique needs,” the company said in a news release. “TXB’s approach streamlines and automates corporate treasury operations, providing businesses with enhanced control and flexibility over their financial management.”

TXB, the release said, lets North American financial institutions “roll out a suite of API-first solutions supporting virtual accounts, multi-layer ledger management, multi-currency cash management, process automation across various payment rails, and real-time visibility and centralization of cash.”

The release noted that TXB also offers real-time liquidity management, automating important treasury functions for enhanced efficiency. It also integrates business banking capabilities into products, and offers real-time account ledger tracking.

“We are thrilled to unveil TXB, the latest evolution of the VoPay platform. This launch is a direct response to the evolving needs of businesses as we continually strive to anticipate and address the next frontier in business solutions, empowering organizations to scale and operate with greater efficiency,” said Hamed Arbabi, founder and CEO at VoPay.

The launch comes two months after VoPay announced it was expanding its operations in the United States by teaming up with Cross River Bank.

This collaboration will give VoPay access to major payment rails and networks as well as Cross River Bank’s financial regulatory expertise in the U.S. market, the companies said.

“This alliance not only accelerates our expansion into the U.S. market but also aligns perfectly with our vision to deliver state-of-the-art technology enabling innovative financial solutions,” Arbabi said at the time.

“Cross River’s advanced technological framework and deep regulatory expertise are invaluable as we endeavor to meet the evolving needs of our customers in today’s fast-paced financial landscape.”

With new access to major payment rails and networks, VoPay is able to offer ACH, Same-Day ACH and RTP payments.