By leveraging Orum’s Deliver API, businesses and financial institutions are set to be able to integrate to a single API that augments and orchestrates payments utilising Visa Direct and other local real-time payment options. Additionally, US customers can use Orum’s Deliver solution to widen their reach of bank accounts in the region through a linked debit card.
The news comes just a few days after Orum went live with FedACH, the Federal Reserve’s automated clearing house service, with the company being set to add FedNow and FedWire solutions. The move came as part of the company’s money movement API, Deliver, with the solutions focusing on orchestrating and optimising fund transfers via Federal Reserve payment rails on behalf of banking institutions.
Equips businesses with an API for fast and reliable payments, with the solution enabling enterprises to move money at scale to customers via Visa Direct;
Optimises Orum’s ‘Direct to Fed’ money movement solution that is developed on a direct connection to the Federal Reserve’s payment rails as a service provider;
Supports businesses in transferring payments directly to and from users’ cards or bank accounts, in turn simplifying redundant processes and improving the time and cost in real-time;
Allows businesses to access bank-rate pricing, expanded processing windows, major bank rails, and push and pull to bank accounts through debit card features via a single integration;
Links with Orum’s Verify solution, offering businesses a solution that can immediately validate bank account ownership and verify if the account is open, valid, and ready to send and receive payments.
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