Transcard, a provider of payments and technology solutions, announced today the launch of its Smart Disburse Platform which enables businesses, banks, and FinTechs to easily pay suppliers and individuals using any payment type or payment rail.
Smart Disburse is a unique SaaS solution that uses direct Integration with any legacy software, ERP application or bank API layer to provide a modern seamless environment for disbursing single or mass payments. Smart Disburse supports more payment types and payment rails than any system of its kind and can integrate with the payment rails and APIs of any bank. Users can schedule or instantly make payments via ACH, virtual card, Real-Time Payment (RTP), Mastercard Send, and many other payment methods. Embedded payments capabilities enable users to effortlessly disburse funds directly from the familiar screens of their legacy software or ERP platform using drop-down menus and a few mouse clicks. Direct integration allows for the automatic real-time reconciliation of payments data, eliminating the need to re-key payments data or to log in and out of multiple systems.
"Smart Disburse helps drive Digital Transformation by disbursing all types of payments, including real-time payments, while facilitating the seamless exchange and real-time reconciliation of rich remittance data," said Transcard CEO Greg Bloh. "This changes how payments get made."
Transcard's open APIs, pre-integrated capabilities, and Banking-as-a-Service (BaaS) platform make it fast and easy for businesses, banks and FinTechs to deploy Smart Disburse within their technology infrastructure and solutions without changes or disruption to their existing systems and processes or requiring complicated integration. Smart Disburse can help banks and FinTechs quickly meet growing demand from consumers and businesses for a seamless omni-channel payment experience.
Bank-grade security provides a secure environment for disbursing and managing payments.
According to the Institute of Finance and Management (IOFM), 71 percent of accounts payable departments plan to further automate the way they disburse funds. Even 44 percent of "highly automated" accounts payable departments plan to deploy more payments technology.
Transcard's Smart Disburse allows businesses, banks, and FinTechs to escape from the mix of point solutions and closed-loop networks traditionally used to pay suppliers and individuals. These poorly integrated payment systems result in inefficiencies, unnecessary complexity, data silos, and risk.