What are Real Time Payments?
Posted by Checkbook on Jun 02, 2020
Human beings are impatient creatures. We don’t like to wait and we get upset when we have to. Enter, real time payments.
Real time payments allow individuals and businesses to, with the push of a button, instantly make funds available for use.
Real time payments can change the game no matter who you are or what kind of business you operate. Daily wage workers, gig economy workers and other freelancers will never have to experience a delay in being paid again and this will attract more people to adopt freelancing as their preferred method of work.
Funds received in real time can not only be instantly pushed to the recipients Checking Account but can also sit in their Apple Wallet or Google Pay, thereby making this payment method all the more attractive in the business-to-consumers (B2C) space. Checkbook wants to help customers make and receive payments in as little time as possible, and that is one reason we offer Instant Pay and instant bank transfers at no extra cost.
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Kate Fitzgerald of PaymentsSource writes "Checkbook.io also leans heavily on paper check nomenclature and imagery, sending B2C payments via a text or email that opens to look like a check made out to the recipient."
What is an eCheck?
eChecks (aka. Electronic Checks) are a payment tool that are used to send funds electronically.
