USIO - This Company Is Bringing Integrated Fintech Solutions To A Range Of Industries
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It’s difficult toimagine what less than 40 years ago was a simple reality: businesswithout the internet.
The U.S. saw $537 billion in e-commerce in 2020, with millions habitually making purchases online. E-commerceis possible partly because of the simplifications the financialindustry made to the processes involved in checkout and overalldigital spending.
Breakthroughs made in the financial technology market have madethis internet revolution possible, and the drive is toward anever-more seamlessly integrated financial experience. One of thecompanies leading the way in the fintech space is Texas-based UsioInc. (NASDAQ: USIO).
Usio is acloud-based, integrated electronic payments provider that offers avariety of payment solutions to a broad range of customers, includingmerchants, banks, nonprofits and government agencies. Two of Usio’smajor services are payment acceptance through their PaymentFacilitation platform, and funds disbursement via their card issuingplatform, Akimbo.
The Tools Of An Online Economy: PaymentAcceptance
Usio offers a variety oftools that can be adapted to best provide payment acceptance solutionsacross 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 burdensomeand time-consuming, so Usio provides a frictionless, fully-integratedPayFac platform that allows integrated software vendors (ISVs) toincorporate their own software to process payments through theirapplications..
With Usio providing theinfrastructure, plus an automated approval process that takes lessthan 10 seconds, and onboarding processes that take less than 30minutes, Usio sees itself as one of the most efficient fintechsproviding this service.
Automated Clearing House (ACH)
ACH networks allowpeople to make seamless bank-to-bank transfers of funds. Usio provides an elegantly simple ACH service, often processing paymentsthe same day at a highly affordable rate. Usio is also proud of itsNational Automated Clearing House Association (NACHA) Third-PartySender Certification, a voluntary certification that ensures thehighest levels of processing compliance and professionalism, of whichUsio is one of the longest tenured.
The company also provides several other payment acceptanceproducts, including remote payment presentment (which allows customersto pay through a banking network), remotely created checks that can beprocessed online, and point-of-sale credit.
The Tools of anOnline Economy: Fund Disbursement
Usio also offers a variety of choices for fund disbursementthat meet different industry needs.
ACH
Usio prides itself on its simple, turnkeysolutions when it comes to fund disbursement. One solution is ACH,which allows customers to directly deposit funds into therecipient’s bank. The company also gives customers a variety ofother choices, including direct debit, check or card.
PrepaidCards
Prepaidcards function as debit cards that can be used by businesses,charities and government agencies to easily disburse and manage fundsto clients and employees. Usio provides a prepaid card network through its Akimbo platform. Akimbo providesboth physical and virtual cards, and businesses can customize theplatform to meet their various disbursement needs.
Usio recently showcasedan example of its prepaid cards in its collaboration with Mastercard Inc. (NYSE: MA) to distribute prepaid cards aspart of a New York City COVID-relief program.
Usio works in thefintech payment solutions space, integrating a variety of financialservices. Other companies involved in PayFac: Fidelity NationalInformation Services Inc . (NYSE: FIS) through Payrix and JPMorgan Chase & Co. (NYSE: JPM) through its subsidiaryChase Paymentech, while those in ACH include Block Inc. (NYSE:SQ) and National Processing.
To learnmore about Usio, visit its website .
Usio, Inc. is atech-enabled payment solutions provider to merchants, billers andsoftware companies . We provide an extensive set of tailoredproducts to deliver world-class payment acceptance, processing, andrisk/fraud management.
This post contains sponsoredadvertising content. This content is for informational purposes onlyand is not intended to be investing advice.
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