Link Money taps Silicon Valley Bank to scale Pay by Bank solution

Friday 22 March 2024 16:09 CET | News

US-based Open Banking payment platform Link Money has partnered with Silicon Valley Bank (SVB) to augment ACH processing and money movement for its merchants.


Link Financial Technologies (Link Money) and Silicon Valley Bank (SVB), a division of First Citizens Bank, announced a strategic collaboration. Going forward, SVB will handle ACH processing and money movement on behalf of Link Money's merchants, enabling Link Money to enhance its capabilities, scale faster, and further improve its Pay by Bank product.

Link Money has partnered with Silicon Valley Bank (SVB) to augment ACH processing and money movement for its merchants.

As credit card fees and fraud continue to rise, merchants are seeking alternatives for a less expensive payment option. Link Money's Pay by Bank solution enables merchants to save up to 80% on payment processing fees, reduce fraud costs, and lower churn.

Officials from Link Money said SVB offers the ability to scale, ACH expertise, and a closer integration with the Nacha ecosystem. The banks tech-forward banking platform enables them to provide a higher quality product offering for merchants utilising their Pay by Bank solution.

Also commenting on this partnership, representatives from SVB said they are happy to work with Link Money and support its payment solutions and capabilities. By leveraging SVB's ACH platform and expertise, Link Money will be able to enhance its Pay by Bank product and help more merchants process payments safely and securely from its customers paying directly with their bank accounts.

What does Link Money do?

Link Money is a payment platform that offers fast and secure payment solutions. The platform enables individuals to make transactions directly with their bank accounts, offering security, ease, and a no-debt option, while offering merchants lower fees than other payment methods.

More information about Silicon Valley Bank

Silicon Valley Bank, a division of First Citizens Bank, is the bank of some of the world's most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science, and healthcare, private equity, venture capital, and premium wine industries.

SVB operates in centres of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights, and connections.

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Keywords: account-to-account payment, ACH, payment processing, merchants, Open Banking
Categories: Banking & Fintech
Companies: Link Money, Silicon Valley Bank
Countries: United States
This article is part of category

Banking & Fintech

Silicon Valley Bank


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