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The company is expanding its offering to provide real-time bank transfers. The updated service allows businesses to disburse loan payments, insurance payouts or wages instantly by utilizing the Real Time Payments (RTP) network as opposed to ACH.
“The US has historically been card-based, but if you think about bank payments around the world when you have a native user experience and a solid way to move the money, consumer expectations start to shift and people start to look forward to and demand the ability to move money with a bank payment,” Anderson says.
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