Financial Institutions
Through SHAZAM, financial institutions can offer their accountholders instant access to funds received, with immediate settlement between participating financial institutions around the clock.
Key features of our instant payment service include:
- Credit push, single payment transactions
- Deposit-based transfers
- Immediate funds availability to the receiving accountholder
- Immediate settlement between participating financial institutions
- Guaranteed good funds
- Irrefutable
- ISO 20022 message format
- Large transaction limits
Enable your accountholders to get paid instantly
Our real-time credit receive service is an affordable, easy-to-implement entry point for financial institutions looking to bring instant payments to their accountholders.
The SHAZAM Core solution is certified to receive, decision and post real-time payments received through SHAZAM’s dedicated connections to:
Benefits to your accountholders may include:
- Instant availability of funds transferred from a virtual account such as PayPal or Venmo
- Expedited merchant settlement for Square users
- Real-time payroll deposits from employers that offer this option
- Instant transfers from accountholders at participating financial institutions
- Expedited receipt of loan proceeds from participating financial institutions
- Instant receipt of payments on accounts receivable
- Benefits will expand as faster payment adoption continues to grow
Benefits to your financial institution:
- Meet U.S. market demand for faster and better payment methods
- Improved customer service and account retention
- Helps your community financial institution compete
- Allows you to stay relevant with emerging payment innovations
- Less operational support needed for these types of payments
Contact us today to learn more!