NorthOne introduces real-time payments

Monday 9 January 2023 13:09 CET | News

US-based challenger bank NorthOne has joined The Clearing House’s real-time payment network in partnership with The Bancorp Bank.


With The Clearing House’s innovative real-time payment network, NorthOne will help businesses receive payments instantly 24 hours a day, 365 days a year, and serves as a platform for innovation, allowing NorthOne to deliver new products and services to customers.

This update provides NorthOne customers with a competitive advantage to receive payments instantly. Future updates will soon provide customers the ability to send real-time payments.

US-based challenger bank NorthOne has joined The Clearing House’s real-time payment network in partnership with The Bancorp Bank.

Augmenting how businesses get paid

With 61% of small businesses struggling due to poor cash flow management, the launch of real-time payments will directly remove a major barrier to success for the businesses NorthOne serves by making it faster for them to get paid.

Commenting on this development, company officials said this is a huge milestone not just for their team but for the fintech industry as a whole. Most importantly, this update is going to make a difference for their customers. For small business owners, cash flow and liquidity are paramount. By removing payment waiting times, they’re able to free up a frustrating technical bottleneck for their customers, making it easier for them to operate their business efficiently.

This new announcement is just the beginning as NorthOne gears up for a big year in 2023 on the heels of their USD 67 million dollar raise. They’re building a financial platform that acts as the sophisticated finance department small businesses could once only dream of. The launch of Real-Time Payments is an important part of that puzzle.

NorthOne secures USD 67 million funding

With this funding, NorthOne will build new working capital and credit products, as well as faster and more convenient payment solutions for busy entrepreneurs. It will also continue to expand on the dozens of integrations already offered. By connecting all the dots of the financial back office, NorthOne can help business owners understand how money moves through their business and take control of their economic future.

NorthOne is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A., Member FDIC. It was founded in 2016 to serve traditional businesses on main streets across America. From construction workers to barbers, mechanics to restaurant owners, these businesses make up the majority of the country’s 33 million small businesses that have been deeply underserved by financial institutions for decades.

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Keywords: real-time payments, instant payments, partnership, cash management, product launch
Categories: Payments & Commerce
Companies: NorthOne, The Bancorp, The Clearing House
Countries: World
This article is part of category

Payments & Commerce



The Bancorp


The Clearing House

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