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NewProduct
NewProducts

Fund customers instantly

with digital-first platform

form for future disbursements or recurring customer pay-
ments, further increasing customer satisfaction and elimi-
nating inconvenient delays. In addition, Instant Funding
provides real-time insights into transaction data and activ-
ity through easy-to-read reports, further simplifying the
reconciliation process for lenders, REPAY stated, describing
the fully digital solution as a perfect enhancement for any
EPAY, a vertically integrated payment solu- digital-first business. Participating business owners have
tions provider, added Instant Funding to its reportedly seen repeat financing transactions increase by
digital suite of consumer-facing payment chan- as much as 25 percent after successfully deploying the In-
R nels, which include text pay, interactive voice stant Funding solution, the company added.
response (IVR) phone pay, a mobile app and online pay- Channel partner benefits
ment portals. The solution enables lenders to instantly push
funds to consumer debit and prepaid cards, without having REPAY said it provides ISOs, merchant level salespeople
to switch systems or platforms, eliminating costly delays and sales channel partners with a high level of customer
and providing consumers with instant access to funds, the service and reporting, including dedicated implementation
company stated. Susan Perlmutter, chief revenue officer services, ongoing training, and 24/7/365 customer service.
at REPAY, described Instant Funding as a timely solution Support professionals are well versed in helping partners
for the digital era. "As the lending process continues to manage risk and handle processing exceptions throughout
shift rapidly to digital-first, speed to funding is becoming the partnership, the company added.
crucial to the consumer experience," she said, adding that
the solution is fast, frictionless and friendly, which makes REPAY partners can leverage the company's technology
lending more convenient for all parties. suite to provide frictionless, tailored, end-to-end commerce
solutions to seamlessly manage inbound and outbound
Perlmutter further noted that REPAY's payment platform, transactions across a variety of vertically integrated use
built on globally reliable Visa and Mastercard rails, has cases, including lending, the company noted, adding that
been funding more than $50 million per month to consum- partners can also use the omnichannel platform to accept
ers, helping businesses deliver fast, convenient and secure electronic payments securely and conveniently at any time,
funding experiences. When lenders provide faster pay- from anywhere.
ments, customers are not waiting for days to receive paper
checks or ACH transactions, and this complementary tech- Expanding menu of services
nology enables REPAY clients and partners to accept pay- In addition to its suite of commerce enablement solutions,
ments and disburse funds on one platform, she noted. REPAY expanded its business services menu for consumer
Convenience, insights, support lenders, including credit unions, automotive lenders and
mortgage lenders, by offering accounts payable automa-
Instant Funding technology, a user-friendly push payments tion, B2B virtual card payments and a proprietary back-end
solution for lenders and consumers, makes funds available clearing and settlement platform. "From protections to con-
to customers within minutes, eliminating lengthy payment trol risk and prevent fraud in payments, to real-time trans-
procedures that may take days to complete, and lenders actional reports and a customer service team that provides
can set transaction limits to help control risk and fraud, 24/7 service through the implementation process, our part-
REPAY noted. The all-digital funding technology enables ners have been able to understand the product and how it
lenders to securely process transactions in real time, pro- fits into the overall product suite to bring to new custom-
viding customers with instant, anywhere, anytime, access ers," Perlmutter said.
to funds 24x7x365, backed by always-on, top-tier support,
the company added.

According to REPAY, when transactions are initiated, the Company: REPAY
solution automatically validates the initial debit or prepaid Product: Instant Funding
card data, securely tokenizing and storing credentials and
funding customers within about 30 minutes, while noting Website: www.repay.com
some customers have reported receiving funds within five Contact: info@repay.com
minutes. Once tokenized and securely stored, the company
noted, enrolled cards can be quickly accessed on the plat-
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