ConnexPay, the first and only provider of payments technology that unifies issuance and acceptance on a single platform, has announced a cooperation with Payouts Network, a pioneer in the field of financial technology. ConnexPay has introduced additional capability through this agreement that will permit payouts using Push-to-Card modalities.
Push-to-Card Payouts are started by the payer, who "pushes" monies to a payee's account using their accepted Visa or Mastercard debit or reloadable prepaid card in real time. Push-to-Card Payouts are settled in real time and require only the payee's name and email to set up, in contrast to conventional bank-to-bank transfers. There is no need to gather banking information because the payee's card information is obtained on the initial payment through a quick and simple white-labeled procedure and saved for subsequent payments.
Payouts using Push-to-Card can be made at any time, 24/7/365. Push-to-Card technology makes payments simple, rapid, secure, and transparent for companies wishing to pay other companies or people, including gig workers.
Virtual cards, a replacement for conventional cash, cheque, and ACH payments, are ConnexPay's main form of payment. In cases where virtual card acceptance is not possible, push to card offers value. For instance, Push to Card enables companies to pay gig-economy delivery personnel (e.g., DoorDash, Grubhub, etc.) instantly to an eligible card account rather than making them wait several days for a cheque or ACH payment.
This Push-to-Card solution, powered by Payouts Network, enhances ConnexPay's current service by delivering real-time settlements and transaction visibility via a new modality.
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