App enables merchants to accept real-time direct bank deposits from mobile customers at the point of sale.
Sionic , a leading provider of omni-commerce, consumer-to-business payments solutions, announced it is launching a free mobile app for local merchants to accept real-time, bank-to-bank, lower-cost cash deposits from customers at the point of sale.
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“We are excited to give local merchants a fast and easy way to accept real-time payments from customers,” said Erica Burris, VP Strategy and Product for Sionic. “The app works with any point of sale and also gives merchants a simple way for customers to order and pay ahead for either in-store or takeout consumption.”
CODE Pay uses Sionic’s new Pay-by-Bank solution enabling real-time cash deposits for merchants at checkout while bypassing expensive card swipe fees. The mobile app and service helps local merchants combat inflation by offsetting rising labor and food or merchandise costs.
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Sionic is also offering local merchants a bundled service for convenient processing of both bank and card payments with consolidated, instant reporting and analytics all from their mobile device using CODE Pay.
Atlanta-based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants. A Google Cloud service, Sionic’s market-first ULink™ is bringing real-time direct deposits to the point of sale via mobile, online, in store or in vehicle experiences. The company has partnered with top financial institution owners of The RTP Network for bank payments and CyberSource, a Visa solution, for secure card payment processing. Merchants accepting real-time payments bypass expensive card swipe fees and receive POS cash deposits immediately. Consumers may receive perks for paying with their bank accounts.
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