The Bancorp, Inc. (NASDAQ: TBBK) announces its latest client to enable real-time1 payments delivery for corporate disbursements. ACI Worldwide will utilize push-to-card payments technology— Direct Rapid Funds platform—developed by The Bancorp and, enabled by Visa Direct, Visa’s real-time payments solution, to offer faster payment experiences to its corporate customers. Real-time payments delivery is an exciting innovation that fundamentally changes the way businesses meet the needs of their customers and employees by offering faster funds disbursements.
The Bancorp currently facilitates more than 35 million faster payment transactions each month. In recognition of its dedication to innovation, The Bancorp received the 2018 Visa Global Service Quality Award for Emerging Payment Adoption: Visa Direct.
“The surge in demand for payments that are faster, less expensive and more accessible has created an opportunity that The Bancorp is fulfilling with forward-thinking technology,” said Matt Carberry, Executive Vice President, Head of Payment Acceptance. “With support from Visa, and through partners such as ACI Worldwide, our Direct Rapid Funds platform enables access to cutting-edge payments solutions for businesses of all sizes through an intuitive and customizable platform.”
“Today’s businesses expect fast, easy and secure ways to pay,” said Sanjay Gupta, Executive Vice President, ACI Worldwide. “As a leading developer of real-time payments and bill payment solutions, we continue to meet these evolving expectations and advance the market. And through our work with The Bancorp, we deliver businesses a transformational payment experience.”
“We’re excited to work with The Bancorp to build out a real-time payments platform for ACI Worldwide through the use of Visa Direct,” said Mike West, Vice President of Business and Government Disbursements, Visa. “Together, we are meeting the needs of businesses today for secure, easy and fast ways to pay by providing access to a platform that brings a cutting-edge and reimagined payments experience.”
About The Bancorp
The Bancorp, Inc. (NASDAQ: TBBK) is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to those on the Fortune 500. The company’s subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank and a top ACH originator. Specialized lending distinctions include National Preferred SBA Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial vehicle leasing groups in the nation. For more information please visit www.thebancorp.com
1Actual fund availability depends on receiving financial institution and region.
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