ConnexPay and Payouts Network launch Push-to-Card technology

Thursday 27 April 2023 12:42 CET | News

US-based paytech ConnexPay has partnered with fintech Payouts Network to enable payouts via Push-to-Card modalities.


ConnexPay's primary payment modality is virtual cards, which provide an alternative to traditional cash, check, and ACH payments. Push to Card provides value where virtual card acceptance is unavailable. For example, Push to Card allows businesses to pay gig-economy delivery drivers (DoorDash, Grubhub, etc.) in real time directly to their eligible card account rather than having them wait several days to receive a payment via check or ACH. Powered by Payouts Network, this Push-to-Card solution complements ConnexPay's existing offering by enabling real-time settlements and visibility into transactions via a new modality.

US-based paytech ConnexPay has partnered with fintech Payouts Network to enable payouts via Push-to-Card modalities.

A faster and transparent payment method

The new functionality will benefit businesses by eliminating the need for traditional payment methods like checks and ACH, which can take days to clear and have limited settlement visibility. With Push to Card, settlements to the recipient occur in real time, and businesses have full visibility into all transactions.

Officials from Visa said that providing secure and transparent digital payment capabilities is at the core of Visa’s efforts to help enhance how individuals and small businesses move money. They are happy to extend the benefits of Visa Direct to ConnexPay’s customers across a variety of industries and use cases.

The new functionality will be available to all ConnexPay customers and will also help accelerate the company’s expansion to reach more customers across the gig economy, insurance industry, as well as other dimensions of the travel industry. ConnexPay and Payouts Network are also exploring opportunities to expand their partnership to other markets and geographies in the near future.

How Push-to-Card payments work

Push-to-Card Payouts are initiated by the payer, who ‘pushes’ funds in real time to a payee’s account through their eligible Visa or Mastercard debit or reloadable prepaid card. Unlike traditional bank-to-bank transfers, Push-to-Card Payouts are settled in real time and need only the payee’s name and email to set up. The payee’s card information is then captured on the initial payment through a quick, white-labelled flow and stored for future payments. There is no need to collect banking information.

Push-to-Card Payouts can be made anytime, 24/7/365. With Push-to-Card technology, payments are easy, quick, safe, and transparent for businesses looking to pay other businesses or individuals, such as gig workers.

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Keywords: real-time payments, instant payments, partnership, data protection, Visa
Categories: Payments & Commerce
Companies: ConnexPay, Payouts Network
Countries: World
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Payments & Commerce



Payouts Network

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