Transcard, a global leader in payments technology, announces the successful adoption of multi-party payment disbursements. The digital solution which replaces paper checks and offers a simple way to facilitate a disbursement to a single or multi-party has been implemented by several customers. Since it launched earlier this year, the solution has received overwhelming positive reviews from the nearly two hundred thousand B2C payments.
One of the largest property management companies in the country is currently using the solution for security deposit refunds, offering tenants an easier way to get their reimbursement. The former paper check process was replaced with a digital payment solution, SMART Disburse, which offers multi-party communication, funding allocations and individualized payment method selections. This change has transformed over fifteen thousand checks a month to electronic digital disbursements, resulting in a nearly 80 percent check reduction immediately upon launch.
SMART Disburse is part of Transcard’s SMART Suite family of solutions and offers customers a payment workflow for digital disbursements. The solution is used across several industries and use cases including the insurance industry for claim payouts, agent commissions, premium refunds and worker compensation payments.
Early adopters have raved about the streamlined processes, cost savings and back office operational efficiencies they have achieved. Transcard’s customers are also delivering a better customer experience with multiple payment options to choose from and a faster payment delivery.
The SMART Suite delivers a seamless payment experience and enables users across industries to collaborate and share payment information with ease. The solution set agnostically embeds within a customer’s ERP or core system and connects to existing bank accounts supporting the orchestration of B2B and B2C payments for businesses of all sizes.
Read More on Fintech : Global Fintech Series Interview with Dagan Osovlansky, Chief Product Officer at ThetaRay
[To share your insights with us, please write to psen@itechseries.com ]
