This Company Is Bringing Integrated Fintech Solutions To A Range Of Industries

It’s difficult to imagine what less than 40 years ago was a simple reality: business without the internet. 

The U.S. saw $537 billion in e-commerce in 2020, with millions habitually making purchases online. E-commerce is possible partly because of the simplifications the financial industry made to the processes involved in checkout and overall digital spending.

Breakthroughs made in the financial technology market have made this internet revolution possible, and the drive is toward an ever-more seamlessly integrated financial experience. One of the companies leading the way in the fintech space is Texas-based Usio Inc. USIO. 

Usio is a cloud-based, integrated electronic payments provider that offers a variety of payment solutions to a broad range of customers, including merchants, banks, nonprofits and government agencies. Two of Usio’s major services are payment acceptance through their Payment Facilitation platform, and funds disbursement via their card issuing platform, Akimbo.

The Tools Of An Online Economy: Payment Acceptance

Usio offers a variety of tools that can be adapted to best provide payment acceptance solutions across multiple industries.

Payment Facilitation

Payment facilitation (PayFac) is a merchant acquiring service where a company’s credit, debit and ACH payments are processed by a financial institution. Becoming one’s own payment facilitator can be financially burdensome and time-consuming, so Usio provides a frictionless, fully-integrated PayFac platform that allows integrated software vendors (ISVs) to incorporate their own software to process payments through their applications.

With Usio providing the infrastructure, plus an automated approval process that takes less than 10 seconds, and onboarding processes that take less than 30 minutes, Usio sees itself as one of the most efficient fintechs providing this service. 

Automated Clearing House (ACH)

ACH networks allow people to make seamless bank-to-bank transfers of funds. Usio provides an elegantly simple ACH service, often processing payments the same day at a highly affordable rate. Usio is also proud of its National Automated Clearing House Association (NACHA) Third-Party Sender Certification, a voluntary certification that ensures the highest levels of processing compliance and professionalism, of which Usio is one of the longest tenured.

The company also provides several other payment acceptance products, including remote payment presentment (which allows customers to pay through a banking network), remotely created checks that can be processed online, and point-of-sale credit.

The Tools of an Online Economy: Fund Disbursement

Usio also offers a variety of choices for fund disbursement that meet different industry needs.

ACH 

Usio prides itself on its simple, turnkey solutions when it comes to fund disbursement. One solution is ACH, which allows customers to directly deposit funds into the recipient’s bank. The company also gives customers a variety of other choices, including direct debit, check or card. 

Prepaid Cards

Prepaid cards function as debit cards that can be used by businesses, charities and government agencies to easily disburse and manage funds to clients and employees. Usio provides a prepaid card network through its Akimbo platform. Akimbo provides both physical and virtual cards, and businesses can customize the platform to meet their various disbursement needs.

Usio recently showcased an example of its prepaid cards in its collaboration with Mastercard Inc. MA to distribute prepaid cards as part of a New York City COVID-relief program.

Usio works in the fintech payment solutions space, integrating a variety of financial services. Other companies involved in PayFac: Fidelity National Information Services Inc. FIS through Payrix and JPMorgan Chase & Co. JPM through its subsidiary Chase Paymentech, while those in ACH include Block Inc. SQ and National Processing.

To learn more about Usio, visit its website. 

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. 

Featured photo by rupixen.com on Unsplash