TransCard, a US-based fintech company providing cloud-based payment solution, has unveiled a SaaS funds disbursement and management platform that simplifies payment processes for both organizations and individuals.

Called Paynuver, the platform has been designed to target the financial, corporate disbursements, insurance, payroll and hospitality industries.

Paynuver will enable payers to establish a virtual account on behalf of multiple recipients for any payment transaction.

Once funds are deposited, payers can manage payments from the platform to receive verifications and view transaction history.

The platform features new digital signatures, control and retrieval mechanisms and aims to provide recipients secure, self-service options for receiving their money.

TransCard president Greg Bloh said: "Paynuver’s user-friendly enhancements tackle the needs of both the payer and the payee, enriching the entire money-moving experience."

"By simplifying the payment process for the payer, whether it be an FI, corporation or insurance company, we’re helping them increase efficiency and lower payment costs by putting the work into the hands of the recipient," Bloh added.