Sionic Debuts Instant Bank Pay Via Microsoft Marketplace

Real-time payments provider Sionic has integrated its instant bank pay service into the Microsoft Marketplace. This move allows merchants to bypass traditional credit card networks by facilitating direct bank-to-bank transfers at the point of sale. For retailers and service providers, this technology offers a way to receive funds instantly rather than waiting days for credit card settlements. The integration is designed to reduce transaction fees significantly compared to standard interchange rates. By utilizing real-time payment rails, businesses can improve their cash flow and reduce the risk of chargebacks associated with traditional card payments. This launch highlights the growing trend of 'Pay by Bank' options appearing alongside traditional financing and credit options in the checkout experience. Operators should consider how these low-cost payment alternatives can coexist with their current financing programs to lower overall cost-of-acceptance.

Source: PYMNTS

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