Premier digital payments provider taps seasoned industry executive to lead development team, expand real-time payment and enterprise solutions
ATLANTA--(BUSINESS WIRE--Sionic, a leading provider of omni-commerce, faster digital payments solutions, today announced it has appointed Matthew Watson as Chief Technology Officer (CTO). Watson brings more than 30 years of experience and a proven track record of success in developing and delivering enterprise technology solutions in a broad range of verticals including travel, insurance, medical, automotive and pre-paid industries. As CTO, he will oversee the company’s global IT initiatives, as well as support the recent surge in consumer demand for faster, secure and more responsible payments solutions.
Recently, Sionic launched the industry’s first real-time payments service enabling bank-to-bank digital cash deposits at the point-of-sale. This comes at a time when merchants are responding to consumer demand by allowing more widespread digital payment options. In addition to receiving funds instantly, merchants reduce costs on average 2% over expensive card swipe fees, a compelling proposition at a time of rising inflation.
“Sionic is truly disrupting traditional payments at a pivotal time in the fintech industry,” Watson said. “Given the current economic environment, consumers not only want faster payments, but also more responsible payment options that aren’t driving them further into debt or incurring extensive fees and extra charges. With Sionic’s Pay-By-Bank service, merchants can provide instant payment capabilities that are secure, and drive down costs. Having worked with Sionic in my previous leadership position, I am honored to join an organization that is recognized for its innovations and continued contributions to the industry, as well as for its solid track record of providing proven, reliable solutions.”
Prior to joining Sionic, Watson was CTO for InComm and helped create enterprise transaction processing systems for Target, Walmart, CVS and other global retailers. Additionally, he managed the integration vendors for the connected car platform for General Motors, providing end-to-end solutions to meet complex requirements of the platform. He has been recognized for his ability to strengthen marketing automation systems, deliver targeted content and offers to segmented customers in their vehicles and mobile devices and increase the adoption of in-vehicle and mobile apps.
Ronald Herman, CEO of Sionic, said, “While leading the team at General Motors, Matt played an integral role in integrating Sionic’s technology to help launch one of the industry’s first connected car platforms. His industry expertise further complements our leadership team and will be vital as we prepare for the next, high-growth phase of our organization, accelerating product development, streamlining operations and transforming the payments market.”
Atlanta-based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants, business to business, and business to consumers. A Google Cloud service, Sionic's market first ULink® is bringing real-time direct deposits to the point of sale via mobile, online, in-store, or in-vehicle experiences. The company has partnered with top financial institution owners of The RTP® Network for bank payments and CyberSource, a Visa solution, for secure card payment processing. Merchants accepting real-time payments bypass expensive card swipe fees and receive POS cash deposits immediately. Consumers may receive perks for paying with their bank accounts.