FLEX Payment Solutions, a family-owned payment technology company and five-time Inc. 5000 honoree, recently announced the expansion of its Pay By Bank solution. The solution helps businesses accept secure bank-to-bank payments while providing consumers with an additional way to pay.
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As businesses seek alternatives to traditional card payments, Pay By Bank allows consumers to authorize transactions directly from their bank account through a simple digital experience. The solution helps businesses reduce payment friction, lower payment acceptance costs, and offer customers greater payment flexibility.
“Businesses need payment options that are flexible, efficient, and designed around how consumers actually want to pay,” said Rob Zeitler, President of FLEX Payment Solutions. “Pay By Bank gives merchants another powerful tool to improve the customer experience while creating opportunities to streamline payments and support long-term growth.”
The solution is designed to support a wide range of industries, including consumer finance, cannabis, CBD, credit unions, and other specialized markets where payment choice and account-to-account transactions continue to gain momentum.
For consumer lenders, Pay By Bank creates a convenient repayment experience. For cannabis businesses, it provides a compliant and legally supported digital payment option that gives consumers an additional way to pay directly from their bank account. For credit unions, Pay By Bank can be incorporated into existing commercial banking programs, creating new opportunities to support business members with modern payment technology while enhancing the value of the credit union relationship.
The addition of Pay By Bank further expands FLEX’s payment ecosystem, which includes ACH processing, card processing solutions, text payments, IVR payments, instant funding technologies, and payment gateway integrations.
“Our goal has always been to help businesses in specialized industries access payment technology that supports growth,” said Zeitler. “Pay By Bank gives businesses and financial institutions another way to improve the payment experience while providing more flexibility for their customers.”
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