NEW YORK, NY--(Marketwired - Oct 27, 2015) - Zipmark®, the online payment solution that enables businesses to easily make or accept secure digital check payments, announced today the launch of Zipmark Embed, a new integrated API and frictionless payment solution that lets consumers pay for digital goods and services without ever having to leave a merchant's website. Additionally, Zipmark customers will now benefit from extended hours to process their payment transactions, meaning they will have until 9PM EST to submit payments rather than the traditional banking standard of a 5PM cut-off.
Zipmark Embed allows businesses to easily take ownership of the payment process with their customers. Instead of starting from scratch when they build a payouts UI, Zipmark's embedded payment workflows can be implemented with a single code snippet. The solution is white-labeled so businesses maintain visibility and brand integrity throughout the payment process while their customers benefit from a seamless, fast, and secure payment experience.
Zipmark's later cut-off time of 9pm significantly extends the window for next day transaction requests. Traditionally banks have required payments to be submitted by 5pm to be processed on that day. Payments submitted too late for next-day processing can actually take two business days, which can easily translate to four calendar days or longer during weekends and holidays. Long delays negatively affect businesses, their customers, and increasingly payees of online platforms such as crowdfunders and on-demand service companies. Zipmark is able to route payment requests through its bank network to clear payments even later in the day and make the funds available to its customers the following business morning.
"We are excited to roll out these new features that offer better services to our clients and create for them a competitive advantage they can pass along to their customers and vendors," said Jay Bhattacharya, CEO and co-founder of Zipmark. "Zipmark was founded to address common pain points of the traditional payment process. We make a point to listen to our clients' feedback in order to continue to improve our product. Embed and an extended 9pm cut-off time are direct responses to the evolving needs and increased flexibility that businesses require."
Already more than 150 companies have processed more than 1MM transactions using Zipmark. The digital payments platform is changing the way marketplace companies manage their operations and disburse payments to their customers and merchants. Many businesses opt for traditional paper checks as a result of exorbitant transaction fees associated with other types of payment options such as card processing and ACH. Through Zipmark's API, businesses easily integrate and implement a fast and secure payment experience for their customers, enabling them to send and receive funds faster than traditional bank-offered ACH.
Zipmark's core offerings include Zipmark Collect and Zipmark Deposit. Zipmark Deposit provides businesses of any size with the infrastructure to make seamless, secure bank deposits to customers, vendors, or partners eliminating clerical duties and excess time while also minimizing cost per transaction. Zipmark Collect allows businesses to accept secure payments with limited risk of bad transactions or delays. Embed is a feature of Collect that will put the merchant on the foreground of a purchase, while Zipmark operates on the back end to process the transaction quickly.
Recent companies to onboard Zipmark as their official payments platform are Zeel, a platform for booking five-star, vetted, licensed massage therapists on-demand and on-location; Winestyr, a marketplace for small-production craft wines; Crowdtap, the People-Powered Marketing Platform; and CardCash, the nation's largest secondary gift card marketplace.
Zipmark recently acquired WorkingPoint, positioning the company as an all-in-one payment platform that streamlines the entire financial process for small- and mid-size businesses.
Disclaimer: Zipmark® is a registered trademark of Zipmark, Inc. All other copyrights and trademarks within the release are property of the respective brands.
About Zipmark
Zipmark is an online payment solution enabling businesses to easily make or accept secure digital check payments. Zipmark is dedicated to reducing the amount of time and money it takes businesses to collect and deposit their payments. Through Zipmark, businesses can easily integrate with the platform and benefit from a lower cost alternative to credit and debit cards. The company was launched in 2010 by Jay Bhattacharya and Jake Howerton, and is based in New York City. Zipmark's investors include Village Ventures, Contour Venture Partners, NYC Seed, High Peaks Venture Capital, Scout Ventures, Shai Stern, Don Layden and the New York City Investment Fund. www.zipmark.com
Contact Information:
Press contact:
Zigis Switzer
press@zipmark.com