Obopay launches new disbursement and bulk payment solution

Obopay Disbursements

The solution, dubbed Obopay Disbursements, enables companies to disburse funds directly from their corporate account into a payees debit account at another bank (view press release). Obopay claims the solution is the only one of its kind in the industry. Funds can also be transferred via electronic check, prepaid card, or an email, phone number or mobile wallet from which the payee specifies where to direct the funds.

The solution can be integrated directly through a company’s APIs and provides a transaction settlement account that, other than managing electronic transactions, provides real time balance and consolidated transaction reporting. Obopay Disbursements is provided as an end-to-end managed service and includes customer support, prepaid card programme management, settlement services and reporting.

Obopay offers the broadest range of disbursement and bulk payment solutions in the industry; enabling companies that need to issue high volumes of payments to disburse funds with speed, efficiency, security and scale,” said Obopay vice president of product marketing David Schwartz.

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