Kort Payments to buy AptPay

This acquisition is a signal that real-time payment technology is becoming a standard expectation for retail operations. KORT Payments is buying AptPay to integrate instant payout capabilities and better payment orchestration into their platform. For a merchant, this means the 'pipes' connecting your checkout counter to your bank account are getting faster and more flexible. Traditionally, retailers have had to wait days for funds to clear or deal with clunky manual processes for issuing customer refunds and payouts. By bringing AptPay’s technology in-house, KORT aims to eliminate these delays. Faster movement of money improves your cash flow and allows you to reinvest in inventory or marketing much sooner. Furthermore, 'payment orchestration' helps ensure that more transactions get approved. If one payment processor goes down or rejects a card, the system can automatically route the transaction through a different path. This reduces the risk of losing a sale at the finish line. As these technologies merge, expect your payment provider to offer more 'instant' features that were previously only available to giant enterprise retailers.

Source: Finextra — Lending

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