SOURCE: Zipmark

Zipmark

May 07, 2014 09:30 ET

Zipmark Deposit™ Enables Businesses to Payout to Many Recipients at Once

CrowdTap and Pollinate Media Group Use Zipmark Deposit™ to Speed Up Thousands of Payouts to Bloggers and Social Media Influencers

NEW YORK, NY--(Marketwired - May 7, 2014) - Zipmark™, an innovative digital check payment platform, announced today that it has launched its secure mass payments product. Zipmark Deposit™ is a unique payments service that allows businesses of any size to send an unlimited number of secure digital check payments at one time.

Payments made with Zipmark Deposit™ are free to recipients and funds are deposited overnight into designated checking accounts. Merchants can integrate with Zipmark's easy-to-use real-time Deposit API, or can simply upload a flat file of transactions. The new online payment product is already being used by several businesses, including CrowdTap and Pollinate Media Group, both of which use the Zipmark Deposit™ product to pay out to their expanding networks of bloggers and influencers. To obtain additional information about what exactly Zipmark Deposit™ is, please visit a dedicated web page about it, www.zipmark.com/deposit.

 "Zipmark Deposit simplifies the technology and pricing for high volume payables," said Jay Bhattacharya, CEO and co-founder of Zipmark. "If your company makes a lot of payments, you know it's a pain to mail checks or use your online banking. Recipients will be happier to get their money faster and businesses can eliminate an outdated and costly process."

For growing businesses, having a flexible solution like Zipmark Deposit™ is critical. "We needed a solution that could grow and scale with our community, and offered a quick and efficient way to pay our bloggers. Zipmark was the perfect solution," said Alissa Circle, co-founder of Pollinate Media Group.

The painstaking process of cutting paper checks, getting them signed and mailing them can be a full-time job at a business. Zipmark Deposit eliminates the need for "check runs," and modernizes check and ACH payments:

  • Next day settlement, compared to the 3 to 10 day wait using paper checks and ACH
  • Automated onboarding of recipients including validation of the receiving bank credentials
  • Email notifications, online records and downloadable payment reports
  • Simple API based integration or secure file transfer
  • Affordable prices starting at $0.50 per transaction for most businesses

About Zipmark
Zipmark is dedicated to reducing the amount of time and money it takes for businesses to send and receive online check payments, eliminating bounced checks and taking all risk out of the equation for payers and payees. Zipmark 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.

Disclaimer: Zipmark™ and Zipmark Deposit™ is a registered trademark of Zipmark, Inc. All other copyrights and trademarks within the release are property of the respective brands.

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