FORT LAUDERDALE, Fla., June 15, 2016 (GLOBE NEWSWIRE) -- Wildcard Payments has changed its name to Push Pay, to better align with the company’s vision, says Travis Dulaney, Push Pay founder and CEO.
“Our new name better reflects our Faster Payments initiatives and the Payment Gateway we have built,” Dulaney says. “Push Pay has spent three years building an alternative to the traditional ACH, which are manual batch file transactions. ACH & Wire Transfers today can only be processed during ‘bankers’ hours, and especially not on weekends or holidays. Push Pay instantaneous, real-time payments are immediate payments that process in three seconds on a 24x7x365 basis. It’s like the difference between snail mail and email.”
Dulaney is a member of the Federal Reserve Bank’s Faster Payments Task Force. The Federal Reserve established the 331-member Faster Payments Task Force in 2015 to support a broader effort to improve the speed, safety and efficiency of payments. The task force is specifically charged with identifying effective approaches for implementing faster payment capabilities in the United States.
“We can validate accounts prior to making payments, which allows us to process payments with a lot more intelligence,” Dulaney says.
For example, in the area of healthcare payments, our patent pending process allows for efficiency gains and cost reductions for insurance companies and third party administrators (TPAs). Recipients can now receive both claim information and payments together electronically, rather than engaging in two separate processes.
The healthcare payments industry has tried to solve this challenge with virtual cards, but those transactions still result in manual reconciliations and fees as high as 3.5% percent transaction. Push Payments offers improved utility and intelligence at a lower fee.
About Push Pay, Inc
Push Pay is a real-time payments company located in Fort Lauderdale, FL, specializing in the immediate transfer of value between multiple account types. Push Pay delivers easy-to-implement API solutions that make our clients more competitive, experience greater operational efficiency, and more compliant – all through a simple set of web-based tools. Our unique, integrated, multi-modal payment platform offers maximum flexibility for companies that need to transfer funds faster. For more information, visit www.pushpayments.com.