Interchecks Raises $50 Million to Expand Instant Payments Infrastructure

Better cash flow and faster payouts are coming to the fintech world as Interchecks secures $50 million in new funding. While the company currently focuses on sportsbooks and financial institutions, this expansion signal a broader shift in how your financing partners handle money. For retailers and service providers, this investment means the 'pipes' behind your lending platforms are getting faster and more reliable. Direct disbursement of loan proceeds is becoming a standard expectation for modern consumers. When a customer is approved for financing at your checkout, they want instant confirmation and immediate availability of funds. Interchecks specializes in moving money across different rails like RTP and FedNow. As they scale, expect the lenders you work with to offer faster settlement times and smoother refund processes. This technology reduces the lag between a sale being made and the funds hitting your account. It also minimizes the technical friction that often causes customers to abandon a financing application mid-way through. Faster infrastructure ultimately leads to a more seamless experience for your customers and better working capital management for your business.

Source: PYMNTS

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