SOURCE: TransCard

TransCard

March 03, 2016 12:56 ET

TransCard Rolls Out SaaS Funds Disbursement and Management Platform, Paynuver

Fintech Company's Solution Likened to 'Reverse PayPal,' Simplifies Payment Processes for Institutions and Corporations

CHATTANOOGA, TN--(Marketwired - Mar 3, 2016) - TransCard, a fintech company that specializes in providing innovative, cloud-based payment solutions to financial institutions and corporations throughout the U.S., today announced the launch of Paynuver, a SaaS funds disbursement and management platform that simplifies payment processes for both organizations and individuals.

Aiming to revolutionize the traditional payment model, Paynuver takes regulatory, time and cost burdens off payers while providing recipients secure, self-service options for receiving their money. The platform currently focuses on servicing the financial, corporate disbursements, insurance, payroll and hospitality industries.

"Paynuver was launched in response to the flaws in the traditional model, which most of the payments industry is still operating under," said Greg Bloh, president of TransCard. "With that model, money is moved from Point A to Point B in a very linear, non-value-added fashion. Paynuver's user-friendly enhancements tackle the needs of both the payer and the payee, enriching the entire money-moving experience."

With Paynuver, payers can establish a virtual account on behalf of multiple recipients for any payment transaction. After depositing the funds, payers are then able to manage payments from the platform to receive verifications and view transaction history. Among a number of innovative workflow features, the platform also introduces new digital signatures, control and retrieval mechanisms.

Once payments are deposited, the work of the issuing institution or organization is done and, because of Paynuver's built-in technology, regulatory compliance measures are met. To receive their funds, recipients then log in and self-select from a variety of options how they want to receive their money. Options include ACH processing, check, virtual prepaid account, prepaid cards and more.

"By simplifying the payment process for the payer, whether it be an FI, corporation or insurance company, we're helping them increase efficiency and lower payment costs by putting the work into the hands of the recipient," Bloh said. "It's a win-win, since those being paid have the freedom to choose the payment method that works best for them."

Having trialed the technology with select financial institutions and corporate disbursements providers, Paynuver has been likened to a "reverse PayPal."

"PayPal transformed the way payments are processed for the purchasing of items, starting back in the late 1990s," Bloh said. "But corporate disbursements haven't seen the same level of innovation until now. The whole industry has been attempting point solutions without taking into account the preference of the payee. We're excited to be able to offer an all-in-one solution that suits both parties."

To learn more about Paynuver or TransCard's suite of payments solutions, visit www.transcard.com.

About Transcard
TransCard is a fintech company that specializes in providing innovative cloud-based payment solutions to financial institutions and corporations throughout the U.S. Its funds disbursement and management platform takes the regulatory, time and cost burdens off payers while providing payees secure, self-service options for receiving their money. Founded in 2005 to initially serve fuel payment networks with prepaid card options, the company has now transitioned into an innovative SaaS solution that meets the robust needs of customers in a breadth of industries including financial, hospitality, payroll, insurance and corporate disbursements. For more information, visit www.transcard.com.

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