Berkeley Payments has introduced DirectSend service to facilitate real-time funds transfers for businesses. The company is also the first in Canada to offer 3D Secure 2.0 for money transfers.

DirectSend can be personalised with a bespoke platform or merged into a business’ existing network.

In addition, the new service provides cost-effective, real-time, business disbursements, P2P transfers and B2B supplier payments. This helps the company to cater to any corporate requirement.

The service also delivers debt repayment and collections, along with the real-time loading of prepaid cards from consumer bank accounts.

DirectSend is said to be quicker than ACH, checks and prepaid methods. It establishes payments of all sizes within three seconds, added Berkeley Payments.

Berkeley Payments founder and CEO Jonathon Hamburg said: “This new service offering is coupled with advanced technology that is unmatched on the market today.

“We are thrilled to make this available to businesses on a global scale and have already received wildly positive reviews and feedback from our clients who are currently using the service.”

The DirectSend service is now available in Canada and will launch in the US in the coming months.

Berkeley Payments provides mass-payment solutions to businesses. In October last year, the company acquired a payments platform called Pungle, which enables real-time transfers.

Pungle platform allows businesses and consumers to carry out real-time transactions via a bank account, prepaid card and credit card.