Securely Introduces Bank-to-Bank Card Payment Alternative Powered by Ingo Payments
Securely now offers a bank-to-bank card payment alternative with real-time settlement options called Digital Cash that is powered by Ingo Payments.
Digital Cash provides enhanced speed and transparency to customers, the companies said in a Monday (March 10) press release.
“Ingo’s infrastructure will help us expand upon our Multi-Tag pricing technology, further enabling cost control, infrastructure consolidation and on-demand finance,” Securely CEO Alan Ward said in the release.
Multi-Tag is Securely’s pricing feature that uses smart pricing structures to provide cost control, according to the release.
Digital Cash is enabled by a new partnership that brought together Securely’s cloud-based payment platform and Ingo’s embedded banking platform, the release said.
The partnership followed Ingo’s acquisition of Deposits’ banking software platform and the migration of Securely’s merchants from their previous sponsor bank and embedded banking provider, which was completed in 60 days, per the release.
“By enabling real-time settlements and supporting diverse payment options, we are empowering Securely to deliver unmatched value and efficiency to their merchants,” Ingo Payments CEO Drew Edwards said in the release.
When announcing the acquisition of Deposits in September, Edwards said the integration of Deposits into the Ingo Payments platform would create a modern, bank-grade money movement platform that connects “money in and money out” functionality with an embedded proprietary “money stack.”
With this platform, Ingo Payments gives bank and non-bank issuers new plug-and-play capabilities to fund and monetize existing account relationships or to establish new virtual ones — by turning payments into new feature-rich accounts.
“With this combination, we get the part in the middle,” Edwards told PYMNTS CEO Karen Webster in an interview posted Sept. 4. “That’s what Deposits has built: a modern money stack for ledgering and issuing accounts, now in the middle of the Ingo Payments money mobility platform.”
Instant, reliable and secure payment transactions are becoming a consumer expectation, driven by adoption by some key players and a change in awareness of what’s both possible and practical, Edwards wrote in the PYMNTS eBook, “2023: The Year of Strategic Shifts in Business.”
“The appeal of seamless, instantaneous transactions led sectors with conventional payment practices to explore their own potential adoption of instant payments, both to enhance workforce satisfaction and reduce check-issuing expenses,” Edwards wrote.
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