JACKSONVILLE, Fla., June 4, 2021 /PRNewswire/ -- This new collaboration adds to FINTAINIUM's existing 2020 partnership with CIT's Treasury and Payments Services business. The partnership leverages CIT's advanced payments capabilities and FINTAINIUM's cloud-based platform to improve financial workflows, increase management visibility and reporting, and provide outstanding payment execution, enhancing cash-flow support for small and midsize businesses.
The COVID-19 pandemic has shined a new light on the already strong trend to digitize B2B accounting and payments. FINTAINIUM's robust platform and end-to-end financial workflow automation tools provide businesses better visibility into cash flow, reduce administrative-accounting costs, and increase overall transparency in the payments process. The ability to streamline end-to-end workflows with FINTAINIUM's single software solution, which directly integrates with most common accounting software which will help businesses reduce manual processes, expenses, and risks associated with cash flow management, ultimately allowing FINTAINIUM users to better support their customers and business priorities.
Through CIT, FINTAINIUM will be able to utilize Visa Direct, Visa's real-time1 push payments platform, to add real-time capabilities to FINTAINIUM's existing technology stack. Visa Direct allows FINTAINIUM customers to send and receive payments in real time. This flexibility offers real value to FINTAINIUM'S users.
businesses can move money in real time.
merchants can access cash flow daily, and
consumers can receive payouts to bank accounts via the eligible Visa debit cards they know and trust.
Richard Jackman, CEO and Co-Founder of FINTAINIUM, expressed his excitement around working with Visa to implement its real-time payment technology to enable world-class money movement for FINTAINIUM customers.
"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 enable FINTAINIUM to extend Visa Direct enabled capabilities to its existing business customers and offer FINTAINIUM's low-cost solution for Business-to-Consumer, Business-to-Business, and Government-to-Business payments. Ultimately this new collaboration with Visa will enable FINTAINIUM to help industry players to keep pace with consumer demand for digital solutions and deliver a better payment experience to compete in the rapidly evolving payments space.
By delivering convenience and customization, the FINTAINIUM-Visa Direct collaboration will provide businesses the ability to take advantage of specific B2B and B2C solutions to meet the many challenges of today's transitioning digital economy.
About FINTAINIUM™ Led by a veteran team of payment experts with proven track records of solving complex financial business problems, FINTAINIUM's innovative technology disrupts the market. It provides solutions enabling Enterprises of all types to significantly improve mission-critical functions, including cash management, working capital forecasting, and financing alternatives.
1 Actual fund availability depends on receiving financial institution and region.