Sionic makes leadership appointments

Sionic, a key player in real-time bank-to-bank payments at the point of sale, has strengthened its leadership team with two senior appointments. Shashi Varma joins as CTO and Head of Product, while Joe Ciranni steps in as EVP of Client Services. For retailers and operators, this news signals a push toward faster, more reliable alternative payment methods that bypass traditional credit card rails. Bank-to-bank payments, often referred to as 'Pay by Bank,' are gaining traction because they offer lower transaction fees compared to standard credit cards. By hiring a product head with deep experience in large-scale systems (Varma comes from Transport for London), Sionic is positioning itself to make these real-time transactions smoother for both the merchant and the consumer. The addition of a new client services lead suggests the company is preparing to scale its support for merchants who are looking to integrate these payment options into their existing POS systems. If you are a merchant currently relying heavily on expensive credit card processing or looking for ways to offer instant payment incentives to your customers, these leadership changes suggest Sionic will be ramping up its technology and support capabilities. Keeping an eye on bank-to-bank payment providers is essential as the industry moves toward real-time settlement and reduced interchange costs.

Source: Finextra — Lending

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