Fintainium collaborates with Visa to add real-time payment technology

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intainium has collaborated with Visa to add real-time payment technology to its suite of payment solutions. The collaboration follows Fintainium’s 2020 partnership with CIT’s Treasury and Payments Services business.

The partnership taps CIT’s payments capabilities and Fintainium’s cloud-based platform, which will help to boost financial workflows, provide management visibility and reporting, and enable payment execution, and improve cashflow support for small and mid-size businesses.

Fintainium claimed that its platform and end-to-end financial workflow automation tools enable businesses to gain improved visibility into cashflow, cut administrative accounting costs, and bolster overall transparency across the payments process.

Furthermore, it is now possible to streamline end-to-end workflows with Fintainium’s single software solution, which integrates with common accounting software to help cut manual processes, expenses and risks related to cashflow management.

Through CIT, Fintainium will be able to use Visa’s real-time push payments platform, Visa Direct, adding real-time capabilities to Fintainium’s technology stack.

Visa Direct enables allows Fintainium customers to send and receive payments in real time. Businesses will be able to transfer money in real time, merchants will be able to access cashflow every day, and consumers can receive payouts to bank accounts through eligible Visa debit cards.

Fintainium CEO and co-founder Richard Jackman said: “When you combine rich data with the most efficient rails to move money and data, value is created. What we are doing cannot be overstated.”

The collaboration with CIT will allow Fintainium to extend Visa Direct-enabled capabilities to its current business customers and provide a cost-effective solution for business-to-consumer, business-to-business, and government-to-business payments.