BOGOTA, COLOMBIA, September 27, 2022 – Volante Technologies, the global leader in cloud payments and financial messaging, today announced that ACH Colombia, a financial technology company, has gone live with a new banking portal featuring a superior digital payments experience aligned with the social media and ecommerce platforms customers use in their daily lives.

The deployment is part of a wider payments modernization initiative aimed at digitalizing ACH Colombia’s entire payments operation with Volante. As a result, customers can now be onboarded six times faster than before. They can also enjoy services with a higher level of personalization and receive funds twice as fast. Over time, ACH Colombia will also be able to offer customers an ever-increasing variety of domestic payment services through the portal.

“ACH Colombia is investing in the future to improve the quality of our services and continue to contribute to the integration of the country’s financial ecosystem. The initiative represents a complete digital overhaul that sees us transform into a fully hybrid and multi-cloud operation fit for modern times. Preliminary customer feedback has been overwhelmingly positive,” said, Luis Alberto Fernández Pulido, VP Operations and Technology, ACH Colombia.

ACH Colombia manages payments in Colombia’s social security system through its platform to make the settlement and payment: SOI, provides secure online payment and purchase options by debiting the resources online from savings, checking or electronic deposit accounts: PSE, and offers the possibility of making interbank transfers immediately with Transfiya. The company handles 95 percent of Colombia’s interbank transfers, and during the first half of 2022, more than 167 million transactions in Colombia went through its network, or over 27 million transactions per month. As the firm actively improves Colombian citizens’ quality of life by expanding digital financial inclusion, it expects that number to more than double, to over 35 million per month.

The initiative originated in ACH Colombia’s realization that, in order to deliver on this tall order, it needed to modernize its payments infrastructure and processes. Since it had already moved its entire operation to a fully hybrid and multi-cloud environment as part of a bank-wide digital transformation initiative, the solution needed to be cloud-native.

“We conducted a rigorous selection process and opted for Volante’s VolPay because of its superior cloud-native, low-code architecture, rich functionality, and ease of integration with our cloud-resident middle and back-office functions,” he added. “Our business models also go hand in hand, which is a prerequisite for short and long-term success,” said Fernández Pulido.

“Volante has provided us with a solid foundation to deliver on our strategy and roll out our customer-centric new business model. We’re well set up for the future, including ISO 20022 and real-time capabilities, and will be able to expand our product offering and add more payment service variety whenever customer demand changes or the market dictates it,” said Fernández Pulido.

“During the last three years, financial businesses have had to adapt to new ways of working and interacting with their customers, making for a heavy reliance on digital channels. In Colombia, 61 percent of consumers use payment services from neo banks. This digital shift means that banks must adapt and make smart investments in technology to support their customers and help them grow,” said Vijay Oddiraju, CEO, Volante Technologies.

“By digitalizing its entire payments operation, ACH Colombia is leapfrogging its peers,” Oddiraju continued. “It is the first financial services firm in Colombia to modernize its payments infrastructure in the cloud, and only the second in the entire region. We congratulate them on this momentous achievement and look forward to continuing our partnership with them as the region continues to accelerate towards a 24×7 real-time digital future.”

To read more about how banks in Latin America are leapfrogging their global peers, read Volante’s recent blog. You can also meet the Volante team in person at FELABAN Guatemala on November 14 to 15, 2022.  

Ends

Media Contacts:  

On behalf of Volante Technologies: 

Americas 

Chanda Shingadia or Tinne Teugels 

RISE-  Tel. +1 (866) 797-8701 
Tinne@risethrough.com
Chanda@risethrough.com

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Toronto, September 26, 2022 – Visa, one of the world’s leaders in digital payments, has announced its participation in the Canadian expansion of instant transfers,[3] Square’s solution for rapid merchant settlement. Square’s instant transfers are enabled by Visa Direct, a VisaNet processing capability helping transform global money movement and enables real-time[4] funds delivery directly to financial accounts using eligible card credentials.

Square’s instant transfers allow businesses to access their funds quicker than the next business day, typically the current default setting for Canadian businesses. With instant transfers, Square merchants can link an eligible debit card and start transferring funds instantly to an external bank account with the click of a button.

“Cash flow management and more immediate access to funds is critical for small businesses to survive and thrive in a rapidly evolving payments ecosystem,” said Jim Filice, VP and Head of New Payments, Visa Canada. “Together with Square, we’re committed to supporting Canadian small businesses and helping to identify solutions that can benefit them by delivering fast, reliable and secure access to funds.”

Getting paid quickly is key for small businesses especially after navigating the challenges of a global pandemic and evolving for the much-changed landscape. About 44% of Canadian small business owners said real-time access to cash flow was important in keeping their business afloat in the wake of COVID-19.[5] As the country recovers, over half (53%) of Canadian small business owners say their business is still recovering.[6]

Even pre-pandemic, the ability to optimize cash flow was critical to the success of small businesses. The majority (79%) of small businesses have cited wanting faster settlement and 81% said they would pay to have this benefit.[7] In addition, 85% of small business respondents indicated they would switch to a new merchant acquirer who offered real-time payments.[8] Square is solving these needs leveraging Visa Direct to offer real-time deposits to their customers.

“Swift and secure access to money is as important for small businesses as it is to consumers,” said Christina Riechers, Head of Product, Business Banking Team at Square. “In a changing and increasingly digitized payments landscape, businesses should be able to access their money as soon as they make a sale, and we’re proud to bring that experience to sellers across Canada in collaboration with Visa.”

Square’s instant transfers feature is enabled by the power and ubiquity of Visa’s network, which helps enable secure, convenient, real-time funds delivery to eligible Visa card holder account credentials.

For more information about how Visa Direct can help your business, visit visa.com/visadirect.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.ca.

[3] Instant transfers require a linked debit card and cost a fee per transfer. Only physical Canadian debit cards with Visa Debit or PLUS network support can be linked to a Square account at this time. Funds are subject to your bank’s availability schedule but are generally available in your bank account within 20 minutes of initiating an instant transfer. Minimum amount is $25 CAD and maximum is $5,000 CAD in a single transfer. New Square sellers may be limited to one instant transfer per day of up to $500 CAD.

[4] Actual fund availability varies by receiving financial institution, account type, region and whether a transactions is domestic of cross-border.

[5] The Visa Back to Business study was conducted by Wakefield Research in 2020, among 250 small business owners at companies with 100 employees or fewer. Separately, the Visa Back to Business consumer portion of the survey was conducted by Wakefield Research in 2020, among 6,000 adults ages 18+. https://usa.visa.com/dam/VCOM/global/run-your-business/documents/visa-back-to-business-study.pdf

[6] Visa Back to Business Study 2022. The Visa Back to Business Study was conducted by Wakefield Research in December 2021 and surveyed 2,250 small business owners and 5,000 consumer adults.

[7] Visa Funds Disbursements Research, Aite Group survey commissioned by Visa of 154 North American SMB businesses, Q4 2017.

[8] Visa Funds Disbursements Research, Aite Group survey commissioned by Visa of 154 North American SMB businesses, Q4 2017.

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NEW YORK CITY, NY – Bank of America today announced the launch of QR sign-in for CashPro, a development that makes it easier for companies to access their payments, cash management and trade finance operations. The bank’s 500,000 CashPro users now have the option to sign into the website using their mobile device by scanning a QR code and their biometrics via the CashPro App, replacing the need to manually enter password credentials.

“QR sign-in is a technology that’s familiar to our clients from their personal lives, and now they can use it to seamlessly access CashPro,” said Tom Durkin, global product head for CashPro Platform in Global Transaction Services (GTS). “The technology kicks off a schedule of enhancements we plan to introduce to CashPro over the next 18 months that will further improve the simplicity and security of our award-winning platform.”

Mobile authentication is a natural extension of the ubiquitous worldwide adoption of mobile devices and the increasing comfort clients have in using them for business purposes. QR sign-in is powered by patented technology that allows a mobile device to be used as a method for computer authentication. It is the first of a series of enhancements for CashPro aimed at reducing the reliance on traditional forms of user credentials and making the user experience simpler and more secure.

Bank of America listens carefully to its client users through the CashPro Client Advisory Boards that represent companies of varying size and complexity as the bank designs and implements new security and innovation features. “The CashPro Advisory Boards generate invaluable dialogue that help ensure the enhancements we make to the platform fuel our clients’ own growth objectives,” said Ken Ullmann, co-head of GTS for Global Commercial Banking at Bank of America. “QR sign-in is the latest example of the collaboration achieved through the Advisory Boards.”

Bank of America has been named the World’s Best Bank for Payments and Treasury by Euromoney magazine for the past two years. Additionally, CashPro and the CashPro App consistently receive third party recognition such as:

• Celent Model Bank 2022 Award for Corporate Digital Banking, Celent
• Best Mobile Cash Management Software, Best Treasury and Cash Management Providers 2022: Systems and Services, Global Finance magazine

• Best Mobile Technology Solution, Technology & Innovation Awards 2021, Treasury Management International (TMI)
• CashPro Forecasting named Best Cash Management Project for 2022, The Asian Banker

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

“Bank of America” is the marketing name used by certain Global Banking and Global Markets businesses of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of

America Corporation, including Bank of America, N.A., Member FDIC. © 2022 Bank of America Corporation. All rights reserved.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters May Contact:

Louise Hennessy, Bank of America Phone: 1.646.858.6471

louise.hennessy@bofa.com

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September 21, 2022 – Cleareye.ai announces a new global strategic alliance with J.P. Morgan’s Trade and Working Capital group. The alliance leverages an industry-leading digital solution, ClearTrade, to solve both the challenges Trade Finance operations face today and tomorrow. Through significant advances in technology, the ClearTrade platform streamlines the onerous due diligence processing associated with Trade Finance transactions and the multitude of physical documents that are still prevalent in the industry today.

Trade Finance is an industry going through a digital transformation. The ClearTrade solution offers a revolutionary change for banks to ensure they can continue to operate in this evolving landscape plagued with a significantly increasing cost base.

Over the past year, ClearTrade has been integrated into J.P. Morgan’s Trade Processing System and is now live supporting transactions in the APAC region, with a global rollout planned over the coming quarters. Through this initiative, J.P. Morgan will be able to further leverage the digitizing of documents using powerful image processing solutions with the ability to extract, validate and accurately classify unstructured data. This level of digitization allows for:

• Smart interpretation of data and documents to automate letter of credit document examination
• Contextual and configurable rules engine to supplement existing Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice rules
• Identification of trade-based money laundering and sanctions red flags
• Seamless integration into any existing Trade Finance back-office platforms

Cleareye firmly believes that the ClearTrade solution has the capability to increase Trade Finance operations productivity by up to 70%. Through the automated examination of thousands of trade presentations, including both industry common and non-standard document types, the solution has demonstrated up to 9x increase in trade velocity, significant reduction in document checking errors, greater than 85% accuracy standards and up to 80% reduction in E2E processing time.

Stuart Roberts, Global Head of Trade & Working Capital for J.P. Morgan says: “Digitizing trade finance documentation has the ability to provide real benefits to J.P. Morgan and our clients. Banks have grappled to solve the puzzle of paper and manual data entry in this business for many years and our alliance with Cleareye is taking meaningful steps towards solving the problem. The ClearTrade platform also helps us to accelerate and future-proof our clients’ business while reinvesting savings into enhancing controls and risk management.”

Mariya George, CEO and Co-founder for Cleareye, states: “J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe.”

About Cleareye.ai Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York, Bahrain and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper agile organizations, that customers want to bank with and delivers exceptional customer service, drive short term gains and long-term growth, and generate insights to sustain momentum at digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking. For more information, visit www.cleareye.ai

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NEW YORK, Sept. 21, 2022 /PRNewswire/ — Furthering its mission to create a new financial system that works for everyone, DailyPay is announcing a new, no fee transfer option (1-3 business days). Millions of working Americans nationwide will now have a no fee transfer option so they can pay bills, spend, save, or invest on their own schedule. This announcement comes after DailyPay recently introduced Friday by DailyPay™, an app and general purpose reloadable card that allows DailyPay users to access instant EWA for no fee if they update their direct deposit to Friday.

Partnering with America’s leading employers, DailyPay works with companies to offer financial tools to their workforce by providing employees, many of whom are often unbanked or underbanked, with access to Pay Balance, on-demand pay and a much-needed financial lifeline and cash flow solution. This service provided much-needed financial support to workers during the pandemic and can be especially relevant in providing financial flexibility with so many struggling financially with high inflation. In fact, 75% of hourly workers have struggled to pay expenses this year, according to a recent Harris Poll commissioned by DailyPay and Funding Our Future. DailyPay will roll out its new no-fee one to three business day transfer option to its user base throughout the coming weeks.

“It’s all about choice and access,” said Matthew Kopko, Vice President, Public Policy, DailyPay. “Our users now have the option of paying a small ATM-like fee for an immediate transfer or a no fee option for a transfer in one to three business days. We also recently rolled out Friday, a new general purpose reloadable (GPR) prepaid card and app, which gives people the ability to receive no-fee transfers instantly. These moves align with our mission to provide millions of Americans access to their pay and the ability to take control over their finances on their own schedule.”

Utilizing on-demand pay can provide workers with a more optimal way to make ends meet. A study by The Aite-Novarica Group commissioned by DailyPay shows that workers previously reliant on payday loans, overdraft fees, borrowing from friends and late fees can save several hundred dollars a year in reduced interest on loans, overdraft charges, and late fees when using DailyPay.

The study also reveals that 95% of DailyPay users who were previously reliant on payday loans either stopped using payday loans or reduced use after DailyPay. In addition, 97% of those who said they had overdrawn their bank account prior to using DailyPay reported rarely or never incurring overdraft fees (79%) or fewer instances of overdraft fees (18%) after using DailyPay. Reducing the need to rely on payday loans, pay advances or personal loans from family and friends, enables working people to improve their credit, build savings and feel more financially capable and independent. New research in 2022 by the Mercator Advisory Group confirmed similar results on worker financial wellbeing.

About DailyPay

DailyPay, Inc., powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers the industry’s leading on-demand pay solution with modern, insight-driven pay strategies that help America’s leading employers to activate their workforce and build stronger relationships with their employees so they feel more engaged, work harder, and stay longer. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay is headquartered in New York City, with operations based in Minneapolis and Belfast. For more information, visit www.dailypay.com/press.

Media Contacts
David Schwarz
Email: david.schwarz@dailypay.com

Gabriella Lourie
Email: gabriella.lourie@dailypay.com

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BEDFORD, Mass.–(BUSINESS WIRE)–Outseer, the global leader in payments authentication and monitoring solutions, has published its latest 1H 2022 Outseer™ Fraud & Payments Report, showing the alarming power of social engineering and Authorized Push Payment (APP) fraud, with 75% of fraudulent online banking payments activity (based on $ value) originating from trusted accounts on trusted devices. This suggests that consumers are unwittingly parting ways with their money, having been duped by fraudsters’ scams.

The 1H 2022 Outseer™ Fraud & Payments Report features insights from the Outseer Global Data Network™ used by the Outseer Intelligent Platform™ while authenticating billions of consumer transactions.

“Social engineering remains a key weapon in the fraudster’s arsenal when it comes to fraudulent payments. We’ve all seen the news stories about APP fraud – such as romance scams and crypto fraud. But the fact that these attacks are getting more frequent, more sophisticated and make up three-quarters of fraudulent transactions should sound the alarm bells for banks,” says Mark Crichton, Head of Product at Outseer. “Technologies like AI and machine learning help recognize unusual patterns in payments and prevent fraud at the source. Without these cutting-edge technologies, APP fraud will continue to thrive, and more and more customers will lose out.”

Looking at the attack methods used by fraudsters, Outseer’s data showed that brand abuse – such as fake social media profiles and websites aimed at gathering personal data – continues to be the dominant attack vector. Brand abuse made up 65% of fraudulent attacks observed by Outseer during the first half of 2022. According to Crichton “Fraudsters are increasingly turning to brand impersonation attacks, underscoring the need for companies to monitor brand abuse constantly and to deploy rapid takedown services when it does occur.”

Other notable insights from the 1H 2022 Outseer Fraud & Payments Report include:

• 70% of fraudulent transactions occur within the mobile channel.
• Growth of card not present (CNP) digital payments continues to rise bringing with it the increased risk of fraud. In the first half of 2022, Outseer 3-D Secure™ transactions grew 34%, during which time Outseer protected more than $110 billion in payments.
• The majority of CNP fraud that was observed in the first half of this year was based upon account takeover.
• Outseer observed a 277% global increase in the number of merchants using EMV^® 3-D Secure in June 2022 vs. June 2021.
• 87,000 attacks on customers were detected by the Outseer FraudAction™ team – this equates to an average of almost 20 attacks every hour.
• The number of phishing attacks targeting the US grew 42% in the first half of 2022, while phishing attacks originating from Russia grew 25%.

To gain further insights and details into these findings, download the 1H 2022 Outseer™ Fraud & Payments Report here.

About Outseer

Outseer empowers the digital economy to grow by authenticating billions of transactions annually. Our payment and account monitoring solutions increase revenue and reduce customer friction for card issuing banks, payment processors, fintech providers and merchants worldwide. With more than 20 billion annual transactions and 1000+ global institutions contributing to the Outseer Global Data Network™, our identity-based science delivers the highest fraud detection rates and lowest customer intervention in the industry.

Join the Outseer community on LinkedIn and Twitter.

Contacts

Gus Walton
gus.walton@sparkcomms.co.uk

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SALT LAKE CITY, September 20, 2022 – Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), has expanded its Galileo Payment Risk Platform jointly with DataVisor, a market leader in fraud and risk management, to offer robust fraud management solutions that help clients mitigate risk with precision and speed.

Payment card fraud transactions are forecasted to rise 20% to $38.5 billion by 2027, as fraudsters continue to employ more sophisticated techniques. The Galileo Payment Risk Platform targets every corner of the payments ecosystem by combining Galileo’s industry knowledge in fraud analytics and payments with DataVisor’s advanced AI technology and powerful end-to-end fraud and risk management platform capability. Expanded platform capabilities support debit and credit card transactions, ACH, as well as provisioning/onboarding to protect clients against a variety of payments fraud.

“The new Galileo Payment Risk Platform was built to anticipate clients’ needs and meet the evolving demands of today’s payment risk environment. It’s highly flexible and customizable to align with businesses’ needs, risk tolerance and customer preferences,” said David Feuer, Chief Product Officer at Galileo. “Through our evolving Galileo Payment Risk Platform, we continue to invest in protecting our clients with automated fraud mitigation technology that delivers rapid responses, intelligent decisioning and tailored solutions through flexible APIs.”

Recent research by DataVisor shows that 75% of businesses believe developing better fraud detection processes is important. Launched in partnership with DataVisor, Galileo’s next gen fraud and risk platform provides a seamless, open-API integration while providing a dynamic risk management offering powered by machine learning technology to identify fraud patterns and proactively reduce fraud losses.

“We are proud to integrate our sophisticated AI-powered solution into Galileo’s infrastructure and enable a layered approach to payments risks and security,” said Yinglian Xie, Co-founder and CEO of DataVisor. “As fraud remains a big concern for businesses, our partnership showcases our common commitment for business and customer protection.”

Galileo’s approach to fraud mitigation focuses on combining the power of people, technology and data with direct access to trained fraud analysts equipped to inform businesses’ card fraud mitigation strategies. Galileo and DataVisor’s technologies pinpoint operational and transactional fraud risks and can improve ROI through access to fraud intelligence derived from more than 100M unique spend patterns.

For more information about the Galileo Payment Risk Platform, visit www.galileo-ft.com.

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St. Petersburg, Fla. — (Sept. 20, 2022) — PSCU, the nation’s premier payments credit union service organization (CUSO), has announced it has expanded its partnership with ValleyStar Credit Union (ValleyStar). In addition to support services for credit, the CUSO will now also provide debit processing support for the credit union.

Founded in Martinsville, Virginia, in 1953 to serve nylon plant employees, ValleyStar currently operates in 44 counties and cities throughout Virginia and North Carolina. With a mission to make banking and managing finances as easy as possible, ValleyStar is committed to serving and supporting its members and their communities to lead more financially secure lives.

With more than $650 million in assets, ValleyStar was searching for a robust solutions provider that would deliver a highly functional, reliable and secure debit card program to its members. It was also seeking a partner that understood and employed the “people helping people” credit union philosophy. After a comprehensive review process, ValleyStar selected PSCU.

“PSCU has already proven itself a dedicated and trustworthy partner, and we felt that the CUSO was the right fit to keep our debit programs agile as we move forward in today’s constantly evolving digital landscape,” said Diane Walker, card services manager at ValleyStar. “PSCU’s shared commitment to delivering an unparalleled experience allows us to focus on our members, which is always our ultimate goal.”

PSCU will begin providing debit processing services and support to more than 45,000 members starting in fall of 2022.

“The way in which ValleyStar lives up to its goal of meeting members where they are in their lives is admirable, and we are proud to expand our partnership with them,” said Chris Gunnare, SVP, chief sales officer at PSCU. “We look forward to continuing to leverage our industry-leading technology to help ValleyStar meet their goals while also making a difference in their members’ financial lives.”

About PSCU
PSCU, the nation’s premier payments CUSO, supports the success of 1,900 credit unions representing nearly 7 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.

Media Contact:
Peyton Burgess
French/West/Vaughan
919-277-1168
PBurgess@fwv-us.com

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CINCINNATI–(BUSINESS WIRE)–Payload, a rapidly growing Fintech start-up, today announced that it will be taking its powerful, integration-first inbound and outbound payment capabilities to the next level through a new relationship with J.P. Morgan. J.P Morgan has supported Payload’s new payment facilitator status, which Payload will utilize to deliver an innovative, unified and API-driven fintech platform. Payload’s flexible payment platform aims to tackle the more complex payment workflows of industries like real estate, insurance and legal payments, among other verticals, that the traditional Fintech industry has struggled to support. Payload will now be among a small community of Fintech’s offering ACH, Card Network, and Real Time Payments (RTP) through a unified API platform.

“Many industries haven’t benefited from the payment digitization era because of numerous constraints that we aim to overcome with our new platform and capabilities. We believe having access to J.P. Morgan’s industry expertise and analytics will help inform our expansion strategy”Tweet this

“This new solution, powered by J.P. Morgan, will unlock our ability to deliver disruptive payment capabilities to the real estate industry and other industries that suffer from rigid and manual payment workflows,” said Ryan Rybolt, CEO, Payload. “Many industries haven’t benefited from the payment digitization era because of numerous constraints that we aim to overcome with our new platform and capabilities. We believe having access to J.P. Morgan’s industry expertise and analytics will help inform our expansion strategy,” Rybolt continued.

“We are delighted to have been selected as Payload’s banking provider as they leverage our innovative payments solutions to unlock more advanced capabilities, while creating a more seamless experience for their customers. As the payments ecosystem evolves, J.P. Morgan is committed to harnessing innovative technologies to deliver industry-leading solutions for companies of all sizes and every stage of growth,” said James Carlin, Managing Director, Midwest – Technology & Disruptive Commerce, J.P. Morgan Commercial Banking.

About Payload

Payload is a financial technology platform that automates the flow of incoming and outgoing payments across numerous industries. Payload uses a cutting-edge API architecture to seamlessly integrate into key business platforms, streamlining historically manual payments using ACH, Real Time Payments (RTP) and the major Card Networks. In 2020 it launched an initiative to digitize traditionally manual Earnest Money Deposits (EMD) for real estate transactions. Since then, it has expanded to encompass all real estate transactions including agent invoicing and closing disbursements. In less than two years, it has integrated with several real estate operating platforms, leading to wide adoption by real estate and title companies throughout the US and Canada. Payload’s revolutionary payment technology was created to enhance security, save time and money. To learn more about how Payload helps modern businesses grow intelligently, visit: www.payload.co.

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DURHAM, N.C., Sept. 7, 2022 /PRNewswire/ — Spreedly, the provider of the leading Payment Orchestration platform, today announced Payments Orchestration solutions designed for the unique payments needs of merchant aggregators (platforms and marketplaces that onboard and serve individual merchants). 

“Merchant aggregators have payment-related requirements that are significantly different than a traditional digital merchant,” said Randy Guard, CPO and CMO of Spreedly. “They must support a broad range of payment services and scenarios that their merchant partners demand. That makes it difficult both for their development teams to keep pace and for their business teams to monetize their payment offers.” 

“Spreedly has a long track record of equipping merchant aggregators like Volusion, ChargeBee, and Fonteva with orchestration solutions.  We’re excited to announce this set of new offerings that help our merchant aggregator’s customers to strategically manage their payment flows while also creating new revenue streams for the business,” added Guard.

“A key part of our success has been in delivering unmatched value to our merchant network,” said  Paul Day, VP of technology, with Volusion, an all-in-one ecommerce solution that helps entrepreneurs build and manage successful online businesses. “Spreedly’s merchant aggregator solutions allow us to rapidly offer our merchants access to an array of payment services. That keeps our development team focused on core differentiation and lets us offer optional value-added services to our network of merchants.”

Spreedly’s Merchant Aggregator Solutions include:

Payments Enablement Solutions

Successful merchant aggregators attract new merchant partners by offering an array of payment services. With Spreedly, aggregators can provide independent payment method tokenization. The portability of the vault allows merchants to select their preferred payment services from across Spreedly’s comprehensive ecosystem of providers. This flexibility lets aggregators quickly onboard new merchants without development friction.

Payment Method Optimization Solutions

Merchants know that an invalid stored card leads to lost revenue and dissatisfied customers. With Spreedly, aggregators can offer evergreen payment methods as a value-added solution to their merchant network. Our combination of account updater technology and agnostic network tokenization keeps payment methods current, and customers transacting.

Payment Transaction Optimization Solutions

Every transaction is vital – to the consumer, merchant, and aggregator. So, it’s important that false declines are avoided and transactions keep moving. Spreedly’s optimization solutions enable aggregators to offer services that route transactions between payment services. That helps drive higher authorization rates while minimizing false declines. The result: higher revenue and happier customers.

Learn more about the Payments Orchestration for merchant aggregators at https://www.spreedly.com/use-cases/merchant-aggregators-platforms.

About Spreedly

Spreedly’s Payments Orchestration platform enables and optimizes digital transactions with the world’s most complete payment services marketplace. Global enterprises and hyper-growth companies grow their digital business faster by relying on our payments platform. Hundreds of customers worldwide secure card data in our PCI-compliant vault and use tokenized card data to enable and optimize over $40 billion of annual transaction volumes with any payment service. Spreedly is headquartered in downtown Durham, NC. 

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