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Global compliance and tax reporting
XTRM Insights and Analysis
New API to transfer funds instantly in the US – just enter debit card details. Use the Rapid Bank Transfer option to move money from wallets to US banks in seconds.
Same-day payment receipt is no longer an anomaly. ACH transfers can take 1-3 days and for many users, any delays can be costly.
According to a recent report from PYMNTS.com, “Consumers’ use of instant disbursements is growing faster than any other method of receipt… growing threefold over the past year and nearly fivefold since 2018, with 17 percent of all disbursements having been received via instant payment.”
People want to access their funds now – to pay the bills, to invest, to do a variety of things that can’t be done with funds in a digital wallet or on a virtual prepaid debit card.
So it’s no surprise that we’ve seen widespread use of the instant payment choice by XTRM payees using XTRM Rapid Bank Transfer to instantly transfer funds from their digital wallet to their bank or credit union account by simply entering a connected Visa or MasterCard debit card and the amount requested. Deposits are immediate – no more waiting for the EFT to clear at their bank!
And now, with the introduction of the Rapid Bank Transfer API, XTRM partners and developers can offer instant bank transfers in their apps and stay ahead of the curve on this important trend, as it’s certain to grow for more and more B2C and B2B2C use cases.
Developers can find additional details in the XTRM Help Center. Or drop us a line if you need additional information. As always, it’s nice to have options!
Your company can create XTRM payment records within your Salesforce and provide XTRM with the necessary credentials to access the Salesforce API. Here’s how.
When you transfer payments to company beneficiaries, the notifications they get should be professional and consistent with your brand’s identity. Customizing these emails can improve your beneficiaries’ experiences, strengthen your brand’s presence, and guarantee that all communications are clear and successful.
We discussed how to maximize the value of incentive payments for recipients in our June 2024 webinar. The goal of this event was to discuss issues related to handling foreign incentive payments, going beyond simple transactions. Read more for the main lessons learned during the session.
