The solution supports corporates’ growing need to pay consumers digitally by depositing funds directly into an individual’s or small business’ bank account. Pay to Card leverages the details of a bank card (excluding credit cards) associated with an account to process the transaction. For domestic payouts, funds are typically available in near real time, within 5 minutes, while applicable cross-border payouts are often available within 30 minutes. Pay to Card is expected to process payments to around 170 countries in more than 120 currencies.
The launch of Pay to Card comes at a time when companies are getting closer to their customer base and having to manage an increasing number of payment interactions. Use cases of Pay to Card transactions include:
- Payments to contractors and gig economy workers
- Refunds and rebates to customers
- Disaster relief payments
- Financial aid payments for higher education
- Insurance claim payments
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright