Companies that deliver mass payouts can now use the Carat channel to directly pay consumer’s digital accounts and wallets through the two payments players. While the Venmo and Paypal avenues are a new feature, Carat is already able to disburse digital payments via consumer’s credit or debit cards, ACH, prepaid cards and even digital checks.
In April, Fiserv launched a similar pay-out option (minus the Venmo and Paypal partnership) using its Money Network prepaid payroll cards through capabilities from Instant Financial. The electronic delivery services enabled businesses to let their employees access their wages early.
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