Checkbook and Visa Collaborate to Maximize Instant Payment Availability

Posted by Checkbook on Mar 13, 2024

Watch, Checkbook's CEO, PJ Gupta talk about the partnership in the link here.

SAN MATEO, Calif.--(BUSINESS WIRE)--Checkbook, an all-in-one payments platform, today announced a multi-year collaboration with Visa aimed at expediting disbursements to businesses, institutions, and individuals across millions of endpoints around the country.

“In today’s ‘always on’ world, businesses and consumers demand quick and convenient access to cash flow – whether paying insurance claims, disbursing wages, tips or rebates – speed and efficiency have become the name of the game”

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This announcement builds on Visa and Checkbook’s incremental collaboration with Checkbook having participated in the Visa FastTrack program in 2021 and their Virtual Card program enabled by Visa. The latest collaboration, this time involving Checkbook’s implementation of Visa Direct, further strengthens the relationship and expands the solutions Checkbook is offering to businesses looking to disburse fast and seamless payments to individuals and other businesses.

“Our goal at Checkbook has always been to offer our customers a comprehensive suite of modern payment options with a single API,” says PJ Gupta, CEO and Founder of Checkbook. “By offering real-time1 payments through Visa Direct, we are enhancing our customers’ ability to send and receive fast payments seamlessly.”

“In today’s ‘always on’ world, businesses and consumers demand quick and convenient access to cash flow – whether paying insurance claims, disbursing wages, tips or rebates – speed and efficiency have become the name of the game,” said Yanilsa Gonzalez-Ore, North America Head, Visa Direct. “We’re proud to collaborate with companies like Checkbook that are helping to streamline global money movement and disburse funds quickly and securely with Visa Direct.”

Fast payments optimize the way businesses send money to their customers and to each other. Examples include paying insurance claims, vendors and contractors, wages, tips and rebates amongst others. However, most organizations encounter unexpected complications and overhead in facilitating these payments. With Checkbook’s payments platform, creating and sending real-time payments directly to customers’ bank accounts through eligible cards is done via one simple API call. Checkbook also offers a broad feature set that helps make managing the payments lifecycle painless. Businesses can track payment status and monitor account activity from their dashboard or via Checkbook’s robust API. All these pieces contribute to the success of Checkbook’s product – a payment infrastructure tailored to meet customers’ payment needs when and how they need it.

Visa Direct provides a single point of access and reach to 8.5B+ endpoints, helping transform global money movement by facilitating the delivery of funds to 3B+ eligible cards, 3B+ bank accounts and 2.5B+ wallets2 around the world. In Visa’s FY23 alone, Visa Direct surpassed 7.5 billion transactions. Checkbook customers are part of that, which helps save them time and resources.

About Checkbook

Checkbook enables businesses to send payments at scale. With Checkbook’s modern payments platform, customers can send payments with just an email address or phone number. Recipients do not need to create an account, log in, download an app or share sensitive bank account information. This saves time and money over traditional payment methods while providing a better experience for end users and our customers, helping them to make the pivotal transition from physical to digital payments. Today, Checkbook is powering the payments engine of many of the world’s largest financial services companies.

For more information, visit https://checkbook.io

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1 Actual fund availability depends on receiving financial institution and region

2 Based on data provided by wallet aggregators

Contacts

Jana Raghavan

Head of Marketing

617-792-4557