NetPayment launches real time card-less financial network @Once

Real time payments

The service enables real time payments between businesses and around 2,000 financial institutions in the US (view press release). The solution is an alternative to ACH payments which typically take 2-3 business days to process. Online billers and payment processors can verify the existence and standing of a checking account in real time with [email protected], and process account debits and credits in real time with [email protected] [email protected] also provides security verification services such as confirming balance, address and/or DOB.

Matt Aman, founder and CEO of NetPayment Corp says “the movement of money from banking accounts still relies on a processing model that is essentially 40 years old and in relative terms slow… We built @ONCE to address the limitations of existing payment options. There are card payments, which are fast but expensive, and ACH, which is slow but inexpensive. With @ONCE, businesses get the best of both worlds, fast and inexpensive.”

NetPayment claims @ONCE it is the first real time card-less financial network.

Related reading

Leave a comment