Sionic launches real time payment service for US merchants

Friday 17 June 2022 13:18 CET | News

US-based provider of omni-commerce, C2B payments solutions, Sionic, has launched its first real-time payments service enabling bank-to-bank digital cash deposits for all US merchants.

Apart from receiving funds instantly, merchants can also benefit from reduced expensive credit card swipe fees. The company has aligned with various top financial institutions in the country, payments processors, and ecommerce partners to bring Pay-by-Bank as an integrated part of the customers’ checkout experience.

Sionic’s RTP (real-time payments) service allows merchants to incent their customers for paying with their bank accounts instead of choosing hefty fee credit cards. Pay-by-Bank perks include instant cashback and discounts, as well as free goods and services, at the discretion of each merchant.

According to Sionic’s SEO, the new deployment marks a step forward in helping merchants combat inflation rate and boost revenues, while also becoming less dependent on card schemes. In 2020 alone, merchants had to pay over USD 110 billion in credit card fees alone, while consumers also amassed late fees from the same credit card companies.  

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Keywords: real-time payments, digital payments, cashback, bank account, online banking, online banking e-payment, accounts payable, credit card, scheme fee, ecommerce
Categories: Payments & Commerce
Companies: Sionic
Countries: United States
This article is part of category

Payments & Commerce


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