Lower Cost, Pay-by-Bank Service Supports Online and Mobile Fundraising Activities
ATLANTA--(BUSINESS WIRE)--Sionic, a leading provider of omni-commerce, consumer-to-business payments solutions, today announced it is releasing online and mobile widgets to accept real-time, bank-to-bank digital donations, enabling instant, lower-cost cash deposits from donors to nonprofits. The service enables nonprofit organizations to receive direct deposit, one-time or recurring donations while bypassing expensive credit card swipe fees and providing immediate access to funds.
Previously, Sionic successfully facilitated digital donations for nonprofits via its Shop2Give mobile app and platform. Building on this experience, Sionic is now the first provider to offer nonprofits the ability to accept real-time payments (RTP) for donations. The company is aligning with top financial institutions, payments processors and eCommerce providers to bring Pay-by-Bank to the checkout experience.
“Sionic is leveraging its rich history of creating practical and meaningful fundraising solutions for the nonprofit community,” said William C. Brown, Chief Marketing Officer for Sionic. “Delivering direct cash deposits from donors to nonprofits’ bank accounts while bypassing expensive card swipe fees is a win-win for both parties.”
Sionic is also offering a “Bundled Payments” package, enabling nonprofits to access both Pay-by-Bank and Pay-by-Card widgets, consolidating all donations within a single platform. Sionic will securely process all card payments through Cybersource®, a Visa solution, and bank payments through The RTP Network®.
Atlanta based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants. 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.