Visa has partnered with instant money company Ingo Money to launch a new solution.
The solution will allow merchants, corporations and banks to easily provide push-to-card payments to their customers by using Visa Direct.
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Dubbed Ingo Money QuickConnect, the new solution is intended to speed up the use of real-time corporate disbursements powered by the Visa’s processing capability.
Ingo Money QuickConnect will help eliminate the need for expensive paper checks and ACH payments.
Visa head of Visa Direct North America Cecilia Frew said: “There has been significant growth in push payments driven by increased customer demand for instant access to funds.
“We are excited that Ingo Money, one of our first enablement partners, is helping to maximise Visa Direct’s capabilities to create a seamless, integrated push payment solution for end-users through Ingo Money QuickConnect.”
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By GlobalDataIngo Money QuickConnect features bank sponsorship as well as intelligent routing and automatic re-routing for maximum speed and reliability.
To ensure transaction safety and security, the solution offers configurable user authentication and account verification tools. It additionally has cross-party reconciliation services.
The solution also offers users customisable transaction reporting capabilities.
Ingo Money CEO Drew Edwards said: “We’ve heard time and again from customers that they need to deploy a push-to-card payment solution but are intimidated by the time and effort required.
“Ingo Money QuickConnect removes the burden and allows a company to almost immediately begin offering real-time payments through Visa Direct, while retaining the ability to easily expand the solution later to include payments to online wallets like PayPal and Amazon or even cash out Moneygram locations.”
