• Dec. 9, 2016, 7:31 am

TransCard launches SaaS payment processor

Fintech company TransCard, which specializes in cloud-based payment solutions, has launched Paynuver, a SaaS funds disbursement and management platform.

Paynuver will initially focus on the financial, corporate disbursements, insurance, payroll and hospitality industries.

TransCard President Greg Bloh explains Paynuver’s introduction.

“Paynuver was launched in response to the flaws in the traditional model, which most of the payments industry is still operating under.

“With that model, money is moved from Point A to Point B in a very linear, non-value-added fashion. Paynuver’s user-friendly enhancements tackle the needs of both the payer and the payee, enriching the entire money-moving experience.”

Paynuver customers can set up virtual accounts for multiple recipients that accept any payment transaction. Post-deposit, payers can manage payments on the platform so they can receive verifications and review transactions.

New features include digital signatures, control and retrieval mechanisms. Options include ACH processing, check, virtual prepaid account, prepaid cards and more. Paynuver technology also addresses all regulatory concerns.

Once payments are deposited, the work of the issuing institution or organization is done and, because of Paynuver’s built-in technology, regulatory compliance measures are met.

Paynuver has been called a “reverse PayPal” and it is time corporate disbursements saw the same level of disruption PayPal brought to payments, Mr. Bloh said.

“The whole industry has been attempting point solutions without taking into account the preference of the payee. We’re excited to be able to offer an all-in-one solution that suits both parties.”

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