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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.
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“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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