Larger enterprise retailers will need to maintain a Treasury Services Account at a financial institution supporting RTP-RFP transactions and may negotiate rates directly with each bank.
Sionic acts as a data submitter on behalf of the retailer, managing the RTP messages containing tokenized customer bank account information, purchase amount and other key data points.
We charge a small transaction fee for managing the RTP messaging and exceptions.
In addition to validating customer bank accounts and submitting RTP messaging, Sionic offers a comprehensive Pay-by-Bank incentives service integrated with Google for Retail’s Local Inventory Ad engine. Retailers opting to provide SKU-based perks to customers for paying with their bank accounts enjoy top ad placement across Google properties for “Pick up today” items.