EML did not disclose the amount it had invested in Interchecks.
Interchecks will use the investment to fund its expansion in Europe and Australia, while extending its payout options in the US.
Under this strategic partnership, customers of both EML and Interchecks can take advantage of features like 1099 Compliance, Split Payments and Recipient Fee Modelling.
Meanwhile, the partners claim that their customers can provide a suite of “robust” payout options on Interchecks platform.
They can provision EML’s payment cards and provide options like direct deposit, real-time payments (RTP), instant deposit, paper check, eCheck and PayPal.
Customers and their payees can also use a white-label payer portal for quick payments, file uploads, real-time analytics, billing, servicing tools and on-demand reporting.
Alternatively, clients can use ‘RESTful APIs’ if they wish to avail direct integration into their existing portals or apps.
Founded in 2016, Interchecks Technologies has presence in Florida and New York.
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