Safe, secure Pay-by-Bank service will feature machine learning to enrich the payer, payee experience
ATLANTA--(BUSINESS WIRE--Sionic, a leading provider of omni-commerce, bank-to-bank payment services today announced an expansion of its long-standing partnership with Google Cloud with the integration of Google Cloud's generative AI (gen AI) technology into Sionic’s Verified Rapid Payments (VRP) Commerce Gateway. Google Cloud is widely recognized as a global leader in delivering a secure, open, intelligent, and transformative enterprise cloud platform.
Sionic is committed to bringing real-time, bank-to-bank payments to checkouts in the U.S. market. Infusing Google Cloud’s gen AI significantly streamlines customer care efforts including onboarding and dispute resolution processes for both payers and payees, resulting in a frictionless, enhanced customer experience. Unlike credit card payments where payers dispute transactions with the card issuer, Sionic’s services allow payers and payees to resolve disputes directly and instantly with one another, relieving the burden for financial institutions providing the deposit accounts. Both parties have access to each other’s TrustMe® scores before payment transactions are approved, helping to reduce disputes before they occur.
“Generative AI is transforming industries, including the financial sector.,” said Manvinder Singh, managing director, Partnerships at Google Cloud. “Our integration with Sionic demonstrates the power of AI in revolutionizing payment solutions and improving customer experiences.”
Sionic’s trust-based services can deliver digital cash payments between payers and payees through online, mobile, in-store and in-vehicle experiences. Payees receive cash deposits in their bank accounts within seconds and bypass expensive credit card fees. With improved onboarding processes, users may seamlessly navigate through Sionic’s Pay-by-Bank (PbB) microsite, aided by AI-guided assistance.
“At Sionic, we are committed to delivering exceptional payment solutions that prioritize security, customer care, and operational efficiency,” said Matt Watson, chief technology officer at Sionic. “By integrating Google Cloud's gen AI, we can offer our customers a superior experience. This integration not only enhances our solutions but also reinforces our strong partnership with Google Cloud.”
Atlanta-based Sionic is leading faster digital payments by delivering instant bank-to-bank transfers from payers to payees. Sionic’s market-first Verified Rapid Payments℠ (VRP) Commerce Gateway enables financial institutions participating in The RTP® Network and upcoming FedNow bank payment rails to offer their personal and business customers instant, Pay-by-Bank (PbB) services at the point of sale - whether via mobile, online, in-store, or in-vehicle experiences. Merchants accepting real-time bank payments bypass expensive card swipe fees and receive cash deposits immediately. Consumers may also receive perks when paying with their bank accounts.
For more information visit www.sionic.io, follow the company on Twitter at @Sionic_io, or connect with us on LinkedIn.