Sionic launches Instant Bank Pay in US through Microsoft Marketplace

Sionic is bringing its real-time, bank-to-bank payment technology to the Microsoft Marketplace, targeting US retailers who want to bypass traditional credit card networks. For your business, this represents a shift toward 'Pay by Bank' at the point of sale. Instead of customers using a physical card or a digital wallet linked to a card, they authorize a direct transfer from their bank account to yours. This technology is designed to significantly lower processing fees compared to standard credit card swipes. Because these transactions happen on real-time payment rails, the funds are often available to the merchant almost instantly, rather than waiting days for settlement. Sionic is also bundling this with a dedicated fraud detection service to address concerns about the security of instant transfers. For high-ticket retailers in categories like furniture or automotive, this could provide a lower-cost alternative to traditional financing for customers who have the cash but want a secure, digital way to pay without card limits.

Source: Finextra — Lending

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