Following this partnership, Checkbook customers can make payments via Zelle. The integration is reportedly a reflection of the two brands’ efforts to offer a solution to a challenge in the ecosystem – the difficulties associated with push payments.
According to the official press release, via this joint venture, Checkbook seeks to reinforce its position as a comprehensive single portal for both digital and physical payments.
Its purpose is to offer individuals and businesses alike a payment solution that demands minimal recipient information for transactions, all while granting recipients the freedom to choose their preferred payment method.
The new payment option broadens Checkbook’s capabilities. Firstly, because of the collaboration, Checkbook can leverage Zelle's ubiquity, as the digital payments network is available in the mobile banking apps of more than 1,700 financial institutions. Moreover, the all-in-one push payments platform can ensure instant settlements, as Zelle can enable its customers to transfer funds instantly.
When commenting on the new integration, an official from Checkbook emphasised that the company’s goal has always been to supply customers with a suite of payment options through a single API. He also said that, by adding Zelle to Checkout’s payments platform, the company seeks to offer its users a modern approach to facilitate faster payments.
Checkbook facilitates large-scale payment processing for businesses. The company’s core product was developed to offer a solution to the inefficiencies of paper checks.
Via Checkbook’s payments platform, customers can send payments using solely an email address or phone number. What is more, recipients do not need to log in, download an app, or share sensitive bank account information.
The platform further grants recipients the flexibility to choose their preferred method of receiving payments from a variety of options (Zelle, virtual cards, ACH, instant pay, real-time payments, printed checks, and mailed checks).
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