Checkbook, an all-in-one payments platform, is partnering with Visa to expedite disbursements to businesses, institutions, and individuals across millions of endpoints around the country.
By joining forces and implementing Visa Direct, Checkbook hopes to strengthen its relationship with Visa, and expand the solutions it offers to businesses looking to disburse fast and seamless payments to individuals and other businesses.
The collaboration builds on Visa and Checkbook’s incremental collaboration with Checkbook having participated in the Visa FastTrack programme in 2021 and their Virtual Card programme enabled by Visa.
Yanilsa Gonzalez-Ore, North America head at Visa Direct, explained: “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.
“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.”
Visa Direct provides a single point of access and reach to over eight billion endpoints, helping transform global money movement by facilitating the delivery of funds to three billion eligible cards, over three billion bank accounts and over 2.5 billion wallets around the world. In Visa’s FY23 alone, Visa Direct surpassed 7.5 billion transactions. Checkbook customers are also part of that, which helps save them time and resources.
Optimising customer offerings
PJ Gupta, CEO and founder of Checkbook, also commented on the partnership: “Our goal at Checkbook has always been to offer our customers a comprehensive suite of modern payment options with a single API.
“By offering real-time payments through Visa Direct, we are enhancing our customers’ ability to send and receive fast payments seamlessly.”
Fast payments optimise how businesses send money to their customers and other businesses. Examples include paying insurance claims, vendors and contractors, wages, tips and rebates. However, most organisations 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 payment 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.
