Disbursements Tracker™

NOVEMBER 2017 Disbursements Tracker™

Helping Fitness Professionals FLEX THEIR PAYMENT MUSCLES

How Fitli is helping personal trainers get pumped about payments services powered by – Page 6 (Feature Story)

#KillTheCheck: Only 4.4 percent of consumers consider the check to be a satisfactory payment method, according to the recent PYMNTS Disbursements Satisfaction Index – Page 12 (News and Trends)

The top players in the disbursements ecosystem – Page 21 (Provider Directory) Disbursements Tracker™

Table of Contents

WHAT’S INSIDE The latest data from PYMNTS and Ingo Money shows low satisfaction for the paper check’s role in payments. To that end, several companies in various industries — including insurance, on-demand and lending platforms — are adopting 03 new push payment solutions to quickly exchange funds and reduce the paper check’s role in payments.

FEATURE STORY John Cline, CEO and founder of fitness management solution Fitli, explains how the software helps fitness professionals get paid quickly for their services, manage their time and track their revenues — plus, the “chicken or the egg” dilemma of 06 creating a fitness-based marketplace.

DEEP DIVE A data-rich look at how tax filers in the U.S. prefer to receive their annual returns, and how the direct deposit method of 10 payment delivery can open new doors to economic inclusion.

NEWS AND TRENDS The latest headlines from around the space, including a look at new push payment solutions for gig workers, SMB loans 12 and insurance claims.

DISBURSEMENTS FRAMEWORK AND ECOSYSTEM A breakdown of the types of disbursements used to exchange funds, the various entities that employ them and the 17 networks that support them.

PROVIDER DIRECTORY The top companies in the space based on the services they provide, including networks, enabling platforms, point 21 solutions and more.

ABOUT 63 Information on PYMNTS.com and Ingo Money.

Acknowledgement

The Disbursements Tracker™ was done in collaboration with Ingo Money and PYMNTS is grateful for the company's support and insight. PYMNTS.com retains full editorial control over the findings presented as well as the methodology and data analysis.

Executive Insight

Approximately $22 trillion in payments are still made by paper check in the U.S., s the saying goes, the customer (or consumer) but the payment method receives a consumer is always right. If that sentiment holds true, satisfaction score of just 4.4 out of 100, Aconsumer satisfaction with the paper check as according to the most recent a payment method is running thinner than, well, a paper Disbursement Satisfaction Index™. check. What does that say about its role in payments?

The latest PYMNTS Disbursement Satisfaction Index, an Ingo Money collaboration, tells two tales about the role “It’s fairly obvious that paper checks are on their of the paper check in making payments. While $22 trillion way out. They’ve held on this long because of their in payments are made using paper checks each year, the ubiquity, but technology is fast making them obsolete. survey found that very few U.S. consumers (a mere 4.4 I prefer to think of that not as a sad farewell but as a percent) consider paper checks to be satisfactory. $22 trillion opportunity. Something will take the place of the paper check. This low level of satisfaction indicates many customers are ready to see companies #KillTheCheck by introducing ACH and direct deposit are popular for things like tax the faster, more efficient payment options both refunds and payroll, but even they are not fast enough consumers and businesses want to use. Faster payment for today’s instant economy and real-time consumers. delivery methods — including direct deposit and instant Push payments tick all the boxes — cost efficient, credit — are much more popular than paper checks as [high] consumer satisfaction, instant, flexible — and disbursement methods, according to the Index. In fact, the are fast rising to the top of the payments food past few weeks saw several companies across various chain.” industries roll out new, more efficient payment solutions to better serve clients and employees.

Here’s a quick snapshot of recent news from around DREW EDWARDS, CEO of Ingo Money the disbursements landscape: In Singapore, a local insurance company recently signed up to #KillTheCheck in the travel insurance claims market.

AIG Singapore has partnered with DBS Bank to launch an electronic payment service for travel insurance policyholders. AIG will use DBS’ application programming interface (API), IDEAL RAPID, to process insurance claims

in real-time and enable funds to be deposited directly For a roundup of all the latest headlines in the into policyholders’ bank accounts once approved. The disbursements space, check out the Tracker’s News and company said the service will process 40,000 travel claims Trends section (p. 12). each year and eliminate the need for policyholders to wait for an insurance check to arrive in the mail. For fitness pros, a push payment tool to add professional management muscle Another recent solution aims to give gig workers employed There are nearly 300,000 personal trainers employed in by rideshare and property rental services faster access the U.S., all pushing clients to meet fitness and exercise to their funds. First Data’s new Disburse-to-Debit solution goals and live healthier lives. In recent years, new software enables businesses that hire gig workers to push solutions have become available to help these fitness payments directly to those workers’ debit cards. Beyond professionals manage schedules, track revenue and gig economy workers, though, the service can also be accept payments without relying on paper checks. For used to disburse insurance claims, rebates, refunds, the November Tracker’s feature story (p. 6), John Cline, commissions and other payments. founder and CEO of fitness management softwareFitli , talks with PYMNTS about helping them address common Even small- to medium-sized businesses (SMBs) can cash flow issues and the “chicken or the egg” problem of receive loans via debit card instead of paper checks. A creating a fitness marketplace. recent partnership between Ingo Money, Visa and OnDeck will allow SMBs seeking loans through OnDeck’s platform November Tracker updates to collect funds with their debit cards in real-time. A recent Each month, the Tracker highlights leading disbursements study found 70 percent of SMB owners have a debit card, space players in the provider directory. For the November providing them with faster access to such funds. Tracker, we’ve compiled more than 70 providers offering services related to payment networks, payment methods, In addition to loans, tax returns are another form of settlements, enabling platforms, point solutions and payment businesses and individuals want quickly use segments. The latest Tracker also features nine disbursed to their accounts. The IRS reports eight out of new providers: equensWorldline, Inpay, InstaRem, Jiffy, 10 tax filers receive a refund each year. When it comes to Marqeta, Mogo, RateSetter, TransferMate Global Payments receiving that refund, direct deposit, not paper check, is and Tuyyo. the clear winner. This month’s data Deep Dive (p. 10) looks at the role of direct deposits in tax returns and how the method of tax return delivery can help boost economic inclusion.

8.4 Number of active prepaid payroll cards expected to be in use in the U.S. by 2022, up from 5.9 million in 2017. MILLION

of mobile banking customers have used a mobile device to deposit a 45% check within the past year.

42 Number of Same Day ACH credit transactions reported between September 2016 and July 2017. MILLION

of survey respondents believe paper 33% checks will die in the next five years.

Expected increase in spending on business travel in 2019 and 7% 2020, up from a projected 6.1 percent in 2018.

Texting back and forth is pretty common with the trainers and customers I talked to. “ It’s kind of laborious process to eventually get your schedule set or change it.”

personal trainer’s job is to push his or her clients to gym management solutions are helping them focus more reach their fitness goals. For clients, this can mean on getting their clients to their fitness goals. Cline also A a lot sweat, push-ups, pull-ups, cardio and perhaps discussed the “chicken or the egg” situation involved in a reminder of the age-old — yet, aging well — fitness creating a marketplace solution for the fitness industry. philosophy: No pain, no gain. Searching for a painless way to find a personal But, for some personal trainers, there sometimes exists trainer pain without gain: specifically, the pain of not getting paid Cline spent several years working for PayPal in Silicon promptly and efficiently for services rendered. The delay Valley prior to launching Fitli. It was during this time that in payment can be like one of those muscle tweaks that he had difficulty of his own finding a personal trainer, can turn into something more nagging and chronic if left largely because of his own hectic schedule. It was hard untreated. to find a central location that would allow him to both compare reviews of personal trainers and book their In recent years, however, several fitness-oriented services services, so, in the end, Cline wound up finding walking into have emerged, offering personal trainers, gym managers a fitness studio and making an appointment in-person. and other fitness professionals a platform to not only get paid more efficiently, but also aid with scheduling services, When designing the Fitli platform, Cline aimed to provide data insights and client relationship management. Notable a service that would simplify consumers’ searches for companies providing fitness or gym-related software trainers. He wanted the service to help clients use their solutions include MINDBODY, RhinoFit and Glofox. online or mobile devices to easily connect with available trainers, modernizing the way both parties scheduled Another recent addition to the fitness solutions market is appointments — and allowing appointments to be Fitli, founded in 2015. PYMNTS recently spoke with the scheduled within a centralized platform to keep both sides company’s founder and CEO, John Cline, about the pain organized. points that exist for fitness professionals and how new

“Texting back and forth is pretty common with the trainers and customers I talked to,” Cline said. “It’s kind of laborious process to eventually get your schedule set or change it.” under the hood Fitli uses Braintree Marketplace to help facilitate payments between clients and personal trainers on the service. Once How can systems like Fitli help a merchant opens an account and is approved, the system personal trailers address the problem will enable it to start accepting payments, Cline explained. with no-show customers? After that, trainers can accept payments directly into their bank accounts within two to three business days. “In our system, it’s a pre-pay system. In order Offering clients and trainers a more seamless way to to be able to book an appointment or a session connect by mobile device is one way Fitli is modernizing with a trainer, you need to either have previously the fitness market. After all, it is eliminating the need to purchased a package or a membership, or pay use paper checks to pay for fitness sessions. the drop-in rate at that time. When customers are

“Younger folks don’t even know what a check is,” Cline booking that Friday at 5:00 p.m. appointment, they said. “They want to use their [phones] or the web for have already paid $70 to $80 for a session. If it’s a booking and paying [for services].” package or a drop-in, it doesn’t matter. If they don’t show up, then that session gets used and paid to the trainer. That’s the way we work the system.

Trainers can either decide to override that and When building a marketplace and in business, give the customer a refund of that session or a credit back if they want to. But, the system itself is you need supply set up to do it that way. Some will give customers session back and charge them a separate fee, and you need demand. but they have their card on file with Braintree. It’s stored and they have the ability to charge against that if they need to.”

Chicken or the egg? When developing Fitli, Cline said the company faced JOHN CLINE, a “chicken or the egg” problem. Specifically, the issue founder and CEO of Fitli was whether to initially enlist professionals into the marketplace or to focus on building up consumer demand for the service.

“When building a marketplace and in business, you need supply and you need demand,” he noted.

While there are consumers looking to connect with a On a global level, the market for software-based solutions personal trainer, Fitli must be able to meet that demand by for the fitness industry appears to be keeping pace with ensuring there are available trainers nearby. the increase in workers. Recent research indicates demand for gym management software solutions could expand at “No one is going to download the Fitli mobile app unless a compound annual growth rate (CAGR) of 11.1 percent there’s some value to it,” Cline said. “They might think, ‘Oh, from 2016 to 2020. this sounds like a cool idea,’ and then download it, but then [discover] there’s no businesses listed in their area.” These new software solutions will also offer fitness professionals solutions to do more than organize training sessions and client appointments, providing these workers with data insights on their busiest blocks of time during a day and a centralized way to track their earnings.

“Traditionally, trainers have been used to using pen and paper,” Cline said.

But, that pen-and-paper approach won’t always be efficient — and the pain, in this case, isn’t likely to readily result in gain, especially when it’s time to count receipts.

Cline recently had a conversation with a fitness professional who was being audited by her county assessor. To get her payments in order, she had to track transactions across multiple services like PayPal, Square If consumers download the app but cannot find a trainer, and paper check records to make sure she was prepared. he or she is likely to delete the app. To avoid that outcome, the company is working to expand the supply of trainers Software-based solutions like Fitli, can eliminate the need and instructors in the Fitli community to meet the to track receipts across multiple payment formats, Cline demands of fitness-focused clients. said.

“We are focusing on building our business network so we “As soon as [a fitness professional] uses Fitli or a system have that vibrant, viable marketplace,” he said. like this, everything is registered and everything is captured,” he noted. A healthy, growing marketplace According to the most recent Bureau of Labor Statistics Having payment receipts in a single location can help (BLS) numbers, there are nearly 300,000 personal trainers personal trainers avoid the pain of financial audit, allowing and fitness professionals employed in the U.S. The BLS them more time to focus on getting their clients pumped also anticipates a growth rate of 10 percent for the sector up for their next workouts. over the next 10 years. This means that as more people embark on the career path of personal trainer and fitness instructor, the demand for effective fitness payment and scheduling solutions can be expected to increase as well.

TAX RETURNS

arlier this month, lawmakers in Congress took their first steps toward overhauling the U.S. tax system. Plans are still in their early stages, though, and it’s not yet clear how the final tax overhaul proposal will look — or how businesses Eand individuals will be impacted by the changes. But, based on a review of data from the Internal Revenue Service (IRS), one thing is clear when it comes to individuals’ preferences regarding tax returns: Direct deposit is in and the paper check out.

At the federal level, the IRS reported eight out of 10 U.S. tax filers receive a federal refund each year. A look at the most recent IRS data finds the average federal refund in 2017 was $2,782, an increase of 1.2 percent from 2016. The number or refunds issued to recipients can vary by income bracket, according to a review of IRS data by H&R Block. For example, in 2012, 84 percent of filers earning below $50,000 annually received a refund, but just 34 percent of those making more than $200,000 per year received one.

Direct deposit for tax refunds has been available since 1987 and the feature has emerged as the preferred choice for how U.S. tax filers receive their refunds. According to

the most recent IRS statistics, four out of five individuals receive tax returns through direct deposit. The latest IRS report figures indicate the number of individuals seeking average federal to obtain their refunds using direct deposit increased from below 87 million in September 2016 to exceed 88 million in refund in 2017 was September 2017. This change reflects a slight uptick of 1.2 percent. $2,782 A PYMNTS review of IRS data from 2011 to 2017 found direct deposit has been growing in popularity for several an increase of 1.2 percent from 2016 years. The IRS reported 72 percent of all 2011 recipients received their tax returns via direct deposit. The number The motivation and the benefit for receiving tax returns via of direct deposit recipients has since been steadily direct deposit often comes down to simple convenience. increasing, with 82 percent of recipients having their On its website, Mastercard — one of several companies returns deposited directly into their preferred accounts. offering solutions to help government agencies adopt faster delivery payment methods, including prepaid cards — noted having a tax return delivered to recipients electronically can eliminate the stress of waiting days or weeks for a government check to be issued and delivered to a physical mailbox. Direct deposit also reduces the hassle of taking the check to a bank or ATM to deposit, or even snapping a photo for a remote deposit.

Beyond convenience for the recipient, Mastercard also noted direct deposit offers broader economic benefits. These include greater financial inclusion, which helps unbanked and underserved populations better access to funds and assists them in managing their personal finances. Direct deposits can also improve cash flow into the economy and increase economic activity by providing Not only is the number of individuals receiving direct faster, more efficient cash receipt options, the company deposited refunds increasing, but the value of these said. refunds is increasing as well. IRS data shows the amount of direct deposit refunds rose by 2.3 percent from $255 While lawmakers debate their preferences for the U.S. tax billion in 2016 to $260.7 billion in 2017. The average system, it appear the U.S. taxpayers have already spoken individual refund increased slightly from $2,931 to $2,961 regarding how they want to receive their payments: No in the same period — and saw more tax filers selecting checks. We’ll take direct deposit, thank you very much. the faster direct deposit method of delivery that put funds directly into their accounts and enabled them to spend their refunds more quickly.

#KillTheCheck allow the company offer more flexible payment options. The news comes as more workers — particularly millennial The trickle down theory of push payments and Gen Z employees — have been opting for payment Based on the findings presented in the latestPYMNTS through paycards. The Global Cash Card will integrate with Disbursement Satisfaction Index, push payments are ADP’s existing ALINE Card paycard service to enable it to continuing to chip away at the paper check’s significance. manage more than 4 million accounts through a single In fact, the Index found just 4.4 percent of consumers platform. consider the check to be a satisfactory payment method. According to the release, expanding access to digital On the other hand, faster payment delivery services are a accounts, including through paycards, eases access completely different story. The Index found 75 percent of to funds for roughly 24.5 million “underbanked” U.S. respondents making below $60,000 per year who had used households. These tools can offer more secure, less instant payments were “mostly or completely” satisfied expensive options to deliver funds than paper checks. with the experience. Overall, direct deposit earned a 100 percent satisfaction rate, followed by non-instant credit (48 percent) and instant credit (nearly 72 percent).

In an interview with PYMNTS’ Karen Webster, Ingo Money CEO Drew Edwards said these attitudes are the result of the “instant economy,” in which services can be delivered through a quick tap on a smart device. The Index noted $22 trillion in paper checks are written each year, and as customers grow further dissatisfied with paper check payments, the effort to #KillTheCheck will likely gain steam.

ADP acquires Global Cash Card Payroll solutions provider ADP recently announced its acquisition of payment card solutions provider Global Putting travel claims in the upright position Cash Card, a recent development in the payroll market that Between security checkpoints, check-in, boarding, customs could add further doubts about the paper checks’ future in lines and baggage claim, there’s already a lot of waiting helping workers get paid. inherently involved in the travel experience. Recently, In a company news release, ADP said the acquisition will insurance company AIG Singapore launched a service in

partnership with DBS Bank to help travelers get instant electronic access to their travel insurance claims. The service uses DBS’ API, IDEAL RAPID, to process real-time claims for roughly half a million AIG Singapore travel insurance policyholders. It will allow policyholders with DBS or POSB Bank accounts to have disbursements immediately deposited into their bank accounts once claims are approved.

The service would eliminate the need for the AIG policyholders to get paid using paper checks, with funds deposited within three business days instead of eight. A news release announcing the service said it is expected to help AIG process approximately 40,000 travel claims each year. freelance workers earning below $20,000 annually want to be paid instantly, and 33 percent making $20,000 to Expediting the speed of payments $40,000 expressed the same sentiment. First Data enables push-to-card payments for To attract more drivers to their platforms, rideshare giants contractors Uber and Lyft introduced their own respective instant Gig workers are getting faster access to their earnings and payment options two years ago. The tools enable drivers to relying less on paper checks thanks to a new solution from choose instant payouts and have funds deposited directly First Data. The payment acceptance solutions provider into their bank accounts within a few minutes of selecting recently announced a new Disburse-to-Debit solution the option. Drivers on either platform will incur a 50 cent enabling businesses that hire gig workers to disburse fee for each instant disbursement, however. wages directly to workers’ debit cards, in real-time, through a push payment option for a wide range of debit networks. Ingo Money, OnDeck and Visa collaborate to expedite loan disbursement speeds The Disburse-to-Debit service also offers prepaid debit In addition to gig workers, small businesses can also get card options for underbanked customers. It can be utilized faster access to their funds through a recent collaboration by sharing economy businesses — including rideshare between a trio of companies. Payment service solutions companies and home rental marketplaces — as well as provider Ingo Money recently announced it would work those generating high volumes of consumer payouts like with financial services giant Visa and online lending insurance claims, rebates, refunds and commissions, platform OnDeck. According to a news release, OnDeck among other payments. will use Visa Direct though Ingo Money’s platform to disburse loans to credit customers on existing small How ride-hailing apps disburse payments business debit cards. The release of First Data’s new disbursement service comes at a time when gig workers are increasingly Through the partnership, SMB borrowers using OnDeck’s demanding faster payment for their services. The most platform will be able to collect their funds through their recent PYMNTS Disbursement Satisfaction Index, in debit cards in real-time. A recent study found 70 percent collaboration with Ingo Money, found nearly 36 percent of of SMB owners reported having a debit card and, of the

SMB owners without a debit card, 87 percent said having The system launched across 12 currencies within the ability to receive funds transfers would be a strong Australia, New Zealand, the U.K. and the Pacific Islands. motivator to get one.

International payment news Gates Foundation seeks to expand global financial access To assist unbanked populations around the world, the Bill and Melinda Gates Foundation is turning to software- based solutions to provide quicker access to digital funds. The foundation recently debuted an open-source software specifically designed to create payment platforms and help unbanked people around the world electronically access funds. The free software is called Mojaloop and is available for use by software developers and for implementation by banks, FinTechs and other financial Coming this Australia Day: real-time payments institutions (FIs). Another new partnership could help Australian bank A news release announcing the service said approximately customers get initial exposure to the benefits of real-time 2 billion people worldwide lack access to bank accounts payments by early next year. A group of 13 Australian and are therefore alienated from the benefits provided by banks are collaborating to enable customers to make digital financial services, according to data from World real-time payments starting on January 26, the nation’s Bank. Australia Day holiday.

IBM debuts blockchain-based network for banks Bank customers will be able to tap into the new service IBM recently launched an initiative to improve the delivery using identifiers such as email addresses or phone of cross-border payments. The company has partnered numbers, instead of bank account credentials, to send with blockchain startup Stellar and financial services firm money to contacts. With the platform in place, users KlickEx on a new blockchain-based network for banks, will exchange money in seconds and the service will be a solution to help these FIs reduce settlement time and available around the clock. costs associated with global payments for consumers and The collaborative system is valued at $766.4 million businesses. USD (or $1 billion AUD) and will be operated and run by In a recent interview with PYMNTS’ Karen Webster, IBM’s a new company, New Payments Platform Australia (NPP head of blockchain market development, Jesse Lund, Australia). described the network as a natural extension of the BBVA launches new global money platform company’s existing relationship with banks and global Another money transfer service recently launched to financial services firms. With a blockchain-based solution provide faster money transfer options to customers in in place, cross-border settlements can take a few seconds Latin America, the Caribbean and the United States. to complete. Spanish bank BBVA recently launched the new Tuyyo app-

based service to enable faster remittance services in those ACI said the solution will address the challenges banks markets. The average amount sent overseas by migrant face with managing multiple, separate systems and workers from Latin America and the Caribbean and based schemes to support real-time payments. The UP Real-Time in the U.S. is approximately $1,900 per family per year, Payments Solution uses the ACI Money Transfer System according to BBVA. and payment processing solutions from UP Immediate Payments to connect banks to real-time payment schemes A company news release announcing the service noted and Real-Time Gross Settlement (RTGS). This enables FIs the app aims to help the $73 billion annual market for to deploy open API technology and support functionality remittance payments to these regions. Tuyyo can quickly like SWIFT’s global payments innovation (gpi) and send funds across borders and enables users to include SWIFTNet. a message with the transfer. The news release also noted the service will eventually be upgraded to include voice and In a statement, ACI Worldwide said banks must adopt real- video messages. time payments to stay competitive as new players enter the financial services market. A global approach to local B2B payments digitization The B2B payments market is also seeing an increase in investment activity, with the most recent World Payments Report by Capgemini and BNP Paribas findingnon-cash transaction volumes increased by 11.2 percent between 2014 and 2015 — the highest growth seen in a decade, according to researchers. But, the report also noted that cash remains highly prevalent, especially among low- value transactions, and businesses need to step up their efforts to encourage clients to move away from paper payment options. Both cash and check are still common in B2B transactions, with the use of cash high in emerging markets such as Asia Pacific and Latin America.

Non-cash payments have demonstrated particular strength in several types of B2B transactions, including cross- border remittances, supply chain finance, invoicing and P2P payment pursuits trade financing. In these areas, analysts believe the use of IBM, Zelle form P2P payments partnership the paper checks will “slowly fade out.” To further efforts to compete with rival peer-to-peer (P2P) ACI streamlines banks’ path to real-time payments services like Venmo, Zelle recently partnered with IBM Electronic banking and payment services provider ACI and its Watson platform to expand the reach of its P2P Worldwide launched a new service to help banks adapt services. Zelle will leverage IBM’s Financial Transaction to real-time payment solutions. The company recently Manager (FTM) to expand its services. According to launched its UP Real-Time Payments Solution to help FIs IBM, the partnership will enable more banks to offer P2P offer real-time payments and streamline how they can services to customers without having to invest in updating shape their real-time payment strategies. existing IT infrastructures or disrupting legacy systems.

IBM’s general manager for Watson financial services Facebook reported it processed $24 billion in P2P products, Alistair Rennie said Zelle’s integration with IBM’s payments in Q3 2017, a 47 percent increase from the same FTM can accelerate and simplify payments through real- period last year. Meanwhile, PayPal said it saw mobile time processing, and offer customers same-day deposits payments grow by 54 percent in 2017 to a total of $40 and bill pay capabilities. Zelle claims an average of 65,000 billion. PayPal also announced it will introduce a customer consumers have registered for the service per day, roughly service chatbot so users can make account inquiries 60 million payments valued at $17.5 billion have been and resolve payment issues from within the Messenger generated and more than 50 FIs have joined the network environment. as members. Zelle is hoping to increase that figure with IBM’s assistance.

PayPal, Facebook offer P2P payments through Messenger In yet another notable partnership — this one to enhance P2P services through a major social media platform — Facebook recently announced it will expand its collaboration with PayPal to enable users to send and receive P2P money transfers from within its Messenger service. The service enables users to send and request money from Facebook contacts with funds moved in and out of their PayPal accounts.

CONSUMER

USE CASES

Governments Corporates Merchants LENDERS Insurers Law FirmsI sIndividuals Marketplaces

POINT SOLUTIONS

PAYROLL Promotions Reimbursements SETTLEMENTS BENEFITS

Settlement PAYMENT METHOD Cash INSTANT Debit Card SAME DAY Credit Card Pre Paid Card NEXT DAY Bank-to-Bank LATER Digital Wallet PRIVATE LABEL

Enabling Platforms

Payment Networks

Cash Credit Card Debit Card Pre Paid CardA dACH

The PYMNTS.com Disbursements Tracker™ is designed to give a breakdown of the different players and cover the news and trends in the disbursements ecosystem. Each month, new companies will be added to the Provider Directory, based on movements in the space. Companies included in the directory have been sorted based on the following framework:

TYPES OF DISBURSEMENTS

PAYROLL Promotions Reimbursements SETTLEMENTS BENEFITS

FREELANCER TRAVEL EMPLOYEE PENSION CORPORATES PAYMENTS EXPENSES

EMPLOYEE, TEMP RETURNED CUSTOMER MERCHANTS LABOR MERCHANDISE PROMOTION

FREELANCER POLICY EMPLOYEE CLAIMS INSURERS PAYMENTS REFUND

FREELANCER EMPLOYEE LOANS Lenders PAYMENTS

FREELANCER EMPLOYEE LITIGATION LAW FIRMS PAYMENTS t Make Disbursements

FREELANCER EMPLOYEE MARKETPLACES PAYMENTS Entities Tha

FREELANCER FRIEND INDIVIDUALS PAYMENTS

PENSION, FEDERAL, STATE, EMPLOYEE ASSISTANCE, GOVERMENTS LOCAL TAX EMERGENCY FUNDS

NETWORKS

ENABLING PLATFORMS

POINT SOLUTIONS

© 2017 PYMNTS.com all rights reserved 20 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Networks update, please head over to our profile submission/update page.

American Express Serve offers a cash load network and money management capabilities in its service’s prepaid suite. The companies’ services include direct deposit, bill pay, mobile check capture and personal financial management tools.

American Express Serve verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Direct deposit, mobile check capture, financial management tools, corporate cards

Website : AMEX Serve

Through its subsidiary Transact24, China Union Pay provides different payment solutions such as ACH processing and prepaid card issuing. The company has several partnerships available to provide different P2P services, such as Alipay, Entropay and Envoy.

China Union Pay verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : ACH processing, P2P payments, prepaid card issuing

Website : Transact24

© 2017 PYMNTS.com all rights reserved 21 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Networks update, please head over to our profile submission/update page.

The company’s payments network supports a full range of credit, debit and prepaid cards, including Discover Card. The company provides tools and programs designed to help issuers, acquirers and merchants drive loyalty; increase transaction volume; and run their businesses efficiently.

Discover Network verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Direct deposit, real time tracking, financial management tools

Website : Discover Network

Interac is responsible for the development and operations of the Interac network, a Canadian national payment network.

Interac verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Digital payments, debit payments, fund transfers

Website : Interac

© 2017 PYMNTS.com all rights reserved 22 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Networks update, please head over to our profile submission/update page.

Mastercard Send can help disbursers such as businesses, governments and nonprofits to broaden their reach by sending funds to virtually all consumer bank accounts using the debit card number associated with that account, typically within seconds.

Mastercard Send verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Funds disbursements, P2P payments, cross-border payments, corporate cards

Website : Mastercard Send

NACHA uses a batch processing and store-and-forward system that allows it to move approximately 22 billion electronic financial transactions valued at $39 trillion each year. The organization represents more than 10,000 financial institutions and works to facilitate the expansion and diversification of electronic payments on the ACH network. NACHA/ACH verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Direct deposit, direct payment transaction

Website : NACHA/ACH

© 2017 PYMNTS.com all rights reserved 23 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Networks update, please head over to our profile submission/update page.

NYCE Payments Network, LLC, an FIS company, provides consumers with secure, real-time access to their money, offering ATM and point- of-sale locations nationwide. The NYCE On-Demand product offers cardholders a real-time solution to pay bills online, receive loan proceeds and transfer funds.

NYCE verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Bill payment, receive loans, fund transfers

Website : NYCE

The SHAZAM network is a member-owned financial services provider and debit processor. The company’s portfolio of solutions include core, risk management, card, ATM, marketing, merchant, mobile and ACH.

SHAZAM verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : ACH, P2P payments

Website : SHAZAM

© 2017 PYMNTS.com all rights reserved 24 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Networks update, please head over to our profile submission/update page.

Visa Direct offers funds disbursement options for different applications, including reimbursements, refunds, rebates, payouts, loan distributions and government disbursements. Its real-time payments capabilities open convenient payment experiences for different use cases, such as paying friends and family, splitting bills, paying contractors and freelancers, sending remittances, and Visa Direct performing account transfers. verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Funds disbursements, P2P payments, credit cards

Website : Visa Direct

verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time :

Services Provided :

Website :

© 2017 PYMNTS.com all rights reserved 25 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

ACI Worldwide’s suite of electronic payment software offerings power electronic payments for financial institutions, retailers and processors. The company’s ACI Disbursement Service enables the return of prepaid funds, insurance claims, refund of fees and loyalty rewards.

ACI Worldwide verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Insurance, merchant disbursements

Website : ACI Worldwide

ADP is a global provider of cloud-based human capital management solutions, including human resources, payroll, talent, time, tax and benefits administration. ADP offerings also cover business outsourcing services, analytics and compliance solutions.

ADP verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Payroll disbursements

Website : ADP

© 2017 PYMNTS.com all rights reserved 26 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Assembly Payments' platform enables businesses in North America, Asia Pacific and Africa to accept, manage and disburse payments.

Assembly Payments verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Accept, disburse and manage payments

Website : Assembly Payments

Brightwell Payments’ prepaid card product offerings include general purpose reloadable cards, specialized payroll card programs, corporate incentive cards, reward cards, rebate cards and gift programs.

Brightwell Payments verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employees, corporate disbursements

Website : Brightwell Payments

© 2017 PYMNTS.com all rights reserved 27 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Comdata is a B2B payment and operating technology solutions provider. The company’s set of corporate payment products includes AP automation, corporate card programs, travel expense management solutions and workforce payment solutions.

Comdata verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employees and contractors, corporate disbursements

Website : Comdata

CSI Enterprises, working under its trademark name “globalVCard,” offers several different solutions including electronic account payables, corporate travel payments, mobile payments and cross- border payment.

CSI Enterprises verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Cross-border payments, corporate travel payments

Website : CSI globalVCard

© 2017 PYMNTS.com all rights reserved 28 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Conduent is a provider of diversified business process services with capabilities in transaction processing, automation, analytics and constituent experience. Its solutions serve multiple industries including health care, public sector and insurance.

Conduent verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Variable

Services Provided : Government disbursements, payroll, pension payments

Website : Conduent

Currencycloud develops a cloud-based platform that enables their clients to automate the way they send and receive money internationally. The solution covers the whole payment cycle, from receipt of funds to conversion and payment.

Currencycloud verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Conversion, payment, account and compliance manager

Website : Currencycloud

© 2017 PYMNTS.com all rights reserved 29 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Dwolla provides APIs for businesses to leverage their bank transfer platform. Their solution also allows businesses to integrate ACH transfers into their applications. Clients of the API can label it with their own brand, create customers, link bank accounts, initiate transfers and use webhooks to monitor transactions.

Dwolla verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Same-day ACH for approved partners, next-day ACH

Services Provided : ACH payments, direct deposits, instant identity verification

Website : Dwolla

Early Warning delivers payments and risk solutions to financial institutions worldwide. The company serves a network of over 1,400 financial institutions, government entities and payment companies. Their portfolio of solutions enables real-time funds availability for a variety of payment types. For corporate clients, the company’s solutions enable them to instantly disburse funds without revealing Early Warning sensitive account information. verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Faster payments, P2P payments, corporate and government disbursement, direct check deposit/cashing checks

Website : Early Warning

© 2017 PYMNTS.com all rights reserved 30 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

EML Payments issues mobile, virtual and physical card solutions for varied industries, including government, insurance and merchants. The company portfolio offers payment technology solutions for payouts, gifts, incentives, rewards and supplier payments.

EML Payments verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Government, insurers, commissions and rewards disbursements

Website : EML Payments

equensWorldline offers clients an end-to-end service portfolio for payments and card transactions as well as cross-border availability of value-added services.

equensWorldline verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : equensWorldline New

© 2017 PYMNTS.com all rights reserved 31 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Fiserv is a financial services developer with solutions covering payments, processing services, risk, compliance, optimization and customer and channel management and insights. Digital Disbursements is Fiserv’s solution for the B2C digital payments market.

Fiserv verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Digital disbursements to clients across different industries

Website : Fiserv

Hyperwallet supports gig workers and freelance payments solutions for businesses. Their products are available on SaaS or through REST API integration and include systems monitoring, maintenance management, payee support tools and KYC/AML compliance.

Hyperwallet

verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Payments for contractors and employees

Website : Hyperwallet

© 2017 PYMNTS.com all rights reserved 32 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Ingo Money is a push payments technology and risk management company that develops solutions for improving the way businesses and people pay and get paid, helping them convert cash, checks and ACH into instant digital payments. The company’s API allows businesses and banks to originate corporate disbursements, P2P payments, check deposits and bill payments funded in real time to debit, prepaid and Ingo Money credit cards and private-label credit and mobile wallet accounts. verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Cashing checks, direct image check deposit, push payments

Website : Ingo Money

Inpay offers a payment infrastructure allowing real-time, cross-border transactions in more than 60 countries. Its service can be applied to payroll payments, retail refunds and funds disbursement for charitable donations.

Inpay verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Payroll, merchants refunds, aid disbursement

Website : Inpay New

© 2017 PYMNTS.com all rights reserved 33 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

InstaRem is a cross-border payments company. Its Masspay solution enables firms to globally disburse high-volume payments, and its personal payments solution covers countries in Asia, Europe, Oceania and North America.

InstaRem verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : P2P payments, payroll disbursements

Website : InstaRem New

Ledge provides a white label B2B2C platform to optimize customer experience and the digital distribution of financial products, with a specific focus on installment/revolving credit products and retail financing for prime, near-prime and subprime markets.

Ledge verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Loan disbursements

Website : Ledge

© 2017 PYMNTS.com all rights reserved 34 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Marqeta provides an open API issuer processor platform enabling companies to issue and deploy payment, finance and commerce solutions with control over what, where and how purchases are authorized.

Marqeta verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Loan, payroll, corporate disbursements

Website : Marqeta New

Mitek develops mobile capture and identity verification software. Their solutions allow financial institutions, payment companies and other businesses to verify their users’ identity during a mobile transaction. This technology can be used during account openings, insurance quoting, mobile check deposit and others.

Mitek verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : Mobile capture and identity verification, multi-check capture, mobile deposit

Website : Mitek Systems

© 2017 PYMNTS.com all rights reserved 35 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Netspend, a TSYS company, is a provider of Visa prepaid debit cards, prepaid debit Mastercard cards and commercial prepaid card solutions. The company is also a provider of commercial payroll card solutions, offering employees a direct deposit option.

Netspend verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Not available

Services Provided : Rebates, employee rewards, insurance, loans and payroll

Website : Netspend

Novatti is a global software technology and systems integration provider. The company’s solutions span a wide array, including P2P payments, government disbursements, mobile banking and bill payments, among others.

Novatti verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Not available

Services Provided : Government disbursements, P2P

Website : Novatti

© 2017 PYMNTS.com all rights reserved 36 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Enabling Platforms update, please head over to our profile submission/update page.

Parascript develops artificial intelligence software that analyzes critical information for financial services, government agencies and the health care industry. Their software enables business automation in documents, forms, mail processing, transaction processing and fraud prevention. The company’s three main check processing products are CheckPlus, CheckUltra and CheckUsability. Parascript verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : Check processing, check recognition and verification

Website : Parascript

Paychex is a provider of integrated human capital management solutions for payroll, HR, retirement and insurance services for SMBs. The company’s corporate payroll solution allows corporate clients to electronically deposit funds into employees’ accounts or onto a prepaid card.

Paychex verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Same-day

Services Provided : Employees disbursements

Website : Paychex

© 2017 PYMNTS.com all rights reserved 37 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Payoneer is an online payment solutions provider that enables companies to pay people and businesses around the world using several transfer payment solutions, including prepaid cards and local eWallets.

Payoneer verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Minutes

Services Provided : Payroll, international payments

Website : Payoneer

PayPal operates a digital payment platform home to nearly 200 million active accounts. PayPal offers its users the capability of sending payments or getting paid as well as performing transactions online, mobile, in-app and in-person. Their line of platforms includes Braintree, Venmo and Xoom.

PayPal verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : PayPal

© 2017 PYMNTS.com all rights reserved 38 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Rapid Financial Solutions offers businesses E2E payment solutions for government solutions such as tax refunds, jury payments and bond payments. Rapid also offers payment products for payroll and corporate disbursements.

Rapid Financial Solutions verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Government, corporate, employees, p2p payments, law firms disbursements

Website : Rapid Financial Solutions

SelectCore is a prepaid payment solutions provider. The company offers a range of services — from POS activation and mobile top-up to open and closed loop prepaid stored value cards — for corporate clients, government agencies, telecom carriers and retail partners.

SelectCore verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Government disbursements, payroll disbursements

Website : SelectCore

© 2017 PYMNTS.com all rights reserved 39 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Skrill provides digital payments solutions to consumers and businesses, allowing users to make local and international P2P payments. International recipients receive money instantly and can access it though a local bank, mobile wallet or as cash.

Skrill verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P Payments

Website : Skrill

Tango Card is a digital reward solutions developer. The company’s products enable businesses to instantly deliver electronic gift cards, prepaid cards and non-profit donations in bulk or through the Tango Card API.

Tango Card verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Merchant disbursements, corporate disbursements

Website : Tango Card

© 2017 PYMNTS.com all rights reserved 40 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

TransCard is a SaaS funds disbursement and management platform offering solutions for an array of industries, including financial services, corporate disbursements, insurance, hospitality, payroll and government.

TransCard verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Varied

Services Provided : Payroll disbursements, corporate disbursements, insurance claims disbursements

Website : TransCard

TransferMate offers a global payroll solution enabling companies to process global payments in more than 30 currencies. It also delivers solutions like mass payments, international receivables, spot transactions and stop loss order, among others.

TransferMate Global Payments verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : N/A

Services Provided : Payroll disbursements

Website : TransferMate Global Payments New

© 2017 PYMNTS.com all rights reserved 41 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

TransferWise Ltd is an international payments services provider. Its solutions include money transfer and currency exchange services, and funds can be transferred from a bank account or a credit card.

TransferWise, Ltd verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Days

Services Provided : International payments

Website : TransferWise, Ltd

ranspay offers a B2B/B2P cross-border payouts platform. The company’s offerings service several industries, including international payroll, online travel agencies, vacation rentals, crowdsourcing platforms and eCommerce marketplaces.

Transpay verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Hours

Services Provided : Payroll disbursements

Website : Transpay

© 2017 PYMNTS.com all rights reserved 42 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Abra is a Bitcoin-based digital wallet app. Users can fund their Abra app wallets with Bitcoin, their bank accounts, Amex Cards or with cash through an Abra Teller. Funds can be transferred to users internationally.

Abra verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P disbursements

Website : Abra

Activehours offers solutions that allow customers to track the number of hours they’ve worked and request their pay when they want it. Customers need an electronic timesheet and direct deposit to get their payments. The app also supports individuals who are paid “per task,” such as Uber and Instacart workers.

Activehours verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Same Day

Services Provided : Receive payments from employer

Website : Activehours

© 2017 PYMNTS.com all rights reserved 43 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Allianz is an insurance and financial services provider. The company’s subsidiary, travel insurance provider Allianz Global Assistance, enables clients to file claims using mobile devices and receive money to their bank accounts through direct deposit. Funds are disbursed within one to two days of a claim’s approval.

Allianz verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Varied

Services Provided : Insurance disbursements

Website : Allianz

Allstate offers car, home, property, condo and renters insurance, as well as insurance for recreational vehicles. The company’s Fast Mobile ePayment tool is available for both auto and property claims, enabling policyholders to have their claim payments disbursed to accounts on the day the payment is issued.

Allstate verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Same day to two days

Services Provided : Insurance disbursements

Website : Allstate

© 2017 PYMNTS.com all rights reserved 44 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Apple develops devices like the iPhone, iPad, the Mac and Apple Watch, as well as its own operating system and software. The company has announced that iOS 11 will include P2P payment services.

Apple verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Apple

Barclays is behind Pingit, an app that links a user’s mobile phone number with their bank account and lets them receive and send money. Pingit also allows international payments to over 35 countries, bill payment functionalities and donations to charities.

Barclays Pingit verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : P2P payments

Website : Barclays Pingit

© 2017 PYMNTS.com all rights reserved 45 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

ChimpChange offers a banking app allowing users to receive paychecks through direct deposit or upload checks via Ingo Money using photo check deposit. The app gives customers access to ACH transfers and personal finance management tools, including auto- categorizing a user’s spending patterns.

ChimpChange verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employee and contractor disbursements, P2P payments, photo check deposit

Website : ChimpChange

Circle offers an app that allows users to send money and exchange currency between U.S. dollars, U.K. pounds and Euros. Circle works together with iMessage allowing the user to send money to other people without needing to open the app.

Circle verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : P2P payments

Website : Circle

© 2017 PYMNTS.com all rights reserved 46 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

DailyPay is a technology-enabled financial wellness company. The DailyPay’s solutions work as an add-on to a company’s existing payroll system. Once added, the solution allows an employee to access his or her money before payday, and the pre-accessed amount is later deducted from the employee’s paycheck.

DailyPay verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One business days

Services Provided : Employee disbursements

Website : DailyPay

Digiliti Money is a provider of cloud-based, SaaS financial solutions and helps financial institutions of all sizes leverage their remote deposit capture solutions to create revenue streams, foster customer relationships and gain competitive edge.

Digiliti Money verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : N/A

Services Provided : Image check deposit, bill payment, money management

Website : Digiliti Money

© 2017 PYMNTS.com all rights reserved 47 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Ensenta develops real-time SaaS solutions for mobile and online payments and deposits. The company offers its financial services to government, health care, logistics and nonprofit markets.

Ensenta verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : Remote deposit capture, check cashing, mobile payments

Website : Ensenta

Facebook introduced a payment functionality in its messaging app Facebook Messenger in 2015 for its U.S.-based users. The functionality allows users with Visa or Mastercard debit cards issued by a U.S. bank to send or request money from their Facebook friends and generate the transaction inside the app.

Facebook verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Facebook

© 2017 PYMNTS.com all rights reserved 48 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Freelancer is a freelancing and crowdsourcing marketplace through which employers can hire freelancer workers to work software development, writing, data entry, design, engineering, the sciences, sales and marketing, accounting and legal services, among others.

Freelancer verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : 2-3 business days

Services Provided : Freelancer disbursements

Website : Freelancer

Google offers its own tool for sending and receiving money under the name of Google Wallet. This functionality allows users to make transactions through the app, through Gmail or online. The money received through the app is directly deposited in the user’s bank account.

Google Wallet verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Google Wallet

© 2017 PYMNTS.com all rights reserved 49 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Green Dot corporation, along with its subsidiary bank, Green Dot Bank, is a financial technology company that specializes in the prepaid debit card industry. Green Dot offers users multiple ways of reloading their card, the possibility of sending and receiving money, and an app from where users can manage their account.

Green Dot verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : Direct deposits, mobile check deposit, bank transfer, P2P payments

Website : Green Dot

Guru is an online platform allowing businesses to hire freelancers in fields such as software, IT, writing, translation, management and finance. Freelancers are paid using several available methods including PayPal, credit card and eCheck.

Guru verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employee and contractor disbursements

Website : Guru

© 2017 PYMNTS.com all rights reserved 50 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Jiffy is a development of technology and services provider SIA. Its solutions enable users to send money to friends in real time using mobile numbers instead of requiring senders to know recipients’ account details.

Jiffy verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P Payments

Website : Jiffy New

Kalo is a freelancer management platform that allows companies to see their freelancers’ information, check availability and assign tasks. The platform also provides payment capabilities for disbursing money to freelancers around the globe.

Kalo verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Less than 5 days

Services Provided : Freelancer disbursements

Website : Kalo

© 2017 PYMNTS.com all rights reserved 51 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

LendingClub is an online marketplace connecting borrowers with investors, automatically depositing loans into the borrower’s bank account. The marketplace enables borrowers to apply for loans online and select an offer after reviewing monthly payments and interest rate options.

LendingClub verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Varied

Services Provided : Loans

Website : LendingClub

LendingPoint is a FinTech balance sheet lender enabling users to request up to $20,000 and, once the loan is approved, transfer the funds into the borrower’s bank account the next business day.

LendingPoint verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One business day

Services Provided : Loan disbursements

Website : LendingPoint

© 2017 PYMNTS.com all rights reserved 52 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Mogo is a finance technology company with offerings that include credit score monitoring, an app connected to a prepaid card, spend monitoring and access to personal loans.

Mogo verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Same-Day

Services Provided : Loans

Website : Mogo New

NCR is a global technology company that specializes in the development of consumer transaction solutions. In the area of financial services, NCR provides solutions for digital banking, check and image processing, fraud prevention, and transaction processing between others.

NCR verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One day to two days

Services Provided : Check imaging, remote deposit capture

Website : NCR

© 2017 PYMNTS.com all rights reserved 53 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Nooch is an app that allows users to make P2P payments by linking to an existing bank account to fund the app transfers. The payments can be delivered with a memo or a picture attached.

Nooch verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : 3 Business days

Services Provided : P2P payments

Website : Nooch

Payza is a global online payment platform specializing in eCommerce payment processing, corporate disbursements and remittances for individuals and businesses.

Payza verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Payza

© 2017 PYMNTS.com all rights reserved 54 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory – Point Solutions update, please head over to our profile submission/update page.

Pockit is a personal finance solutions developer. Its digital banking account enables account holders to have their salaries or benefits paid via bank transfer or by debit card. Users can also get paid in cash at PayPoints locations

Pockit verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Varies

Services Provided : Government, payroll, P2P disbursements

Website : Pockit

Prosper Marketplace is a personal finance solutions developer. The company’s lending products allow borrowers to check rates, choose terms and have funds disbursed directly to their bank accounts through direct deposit.

Prosper Marketplace verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : 1-3 days

Services Provided : Loans

Website : Prosper Marketplace

© 2017 PYMNTS.com all rights reserved 55 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

RateSetter offers a peer-to-peer (P2P) lending service allowing borrowers to complete the loan process online, check rates, obtain decisions and receive funds. It also enables users to apply for personal loans, including auto, self-employed and wedding loans, among others.

RateSetter verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : One business day

Services Provided : Loans

Website : RateSetter New

Revolut allows users to transfer funds from their bank accounts or debit cards into its app and from there spend, send, receive and exchange money. Users can send money to other people even if they don’t have a Revolut account. The app works in 20 different currencies and also offers currency exchange capabilities.

Revolut

verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Revolut

© 2017 PYMNTS.com all rights reserved 56 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

RushCard offers clients a prepaid visa card that allow the user to access different features like mobile access, ATM withdrawals and get their paycheck directly sent to their RushCard.

RushCard verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Cash checks, mobile app

Website : RushCard

Simple is a personal finance solutions developer. Simple customers receive a Simple Visa Card connected to an FDIC-insured account and can access features such as photo check deposit, direct deposit and services like Square, Venmo and PayPal.

Simple verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employee and contractor disbursements, P2P payments, photo check deposit

Website : Simple

© 2017 PYMNTS.com all rights reserved 57 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Square Cash allows individuals and businesses to exchange money with others regardless if they are users of Square Cash or not. Payments can be sent with debit or credit cards and cashed out to a bank for free.

Square Cash verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Square Cash

The Check Cashing Store’s services include cashing various checks for various purposes such as payroll, government, small businesses, personal, insurance and money orders.

The Check Cashing Store verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Two days or more

Services Provided : Check cashing

Website : The Check Cashing Store

© 2017 PYMNTS.com all rights reserved 58 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Tuyyo is a peer-to-peer (P2P) payment service provided by BBVA Transfer Services and focusing on transactions between the United States and Mexico. Money that is sent can be collected at BBVA ATMs or participating cash pick-up locations, or disbursed directly into a bank account.

Tuyyo verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Minutes

Services Provided : P2P Payments

Website : Tuyyo New

Upstart is an online lending platform. In addition to its direct-to- consumer lending platform, Upstart provides technology to banks, credit unions and other partners via its Powered by Upstart software solution.

Upstart verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : 1-5 business days

Services Provided : Loan disbursements

Website : Upstart

© 2017 PYMNTS.com all rights reserved 59 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Upwork is a freelancing platform that allows clients to find, hire, work with and pay freelancers. Freelancers can choose payment though various methods including ACH and PayPal.

Upwork verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Variable

Services Provided : Employee payments

Website : Upwork

Venmo is a service of PayPal that allows users to send money to other Venmo users and make purchases. Venmo focuses on the social aspect with an interface similar to a social media platform, allowing members to share their purchases and payments. Finally, users can decide to move the money to their bank account.

Venmo verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Venmo

© 2017 PYMNTS.com all rights reserved 60 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

Verse is an app that allows users to register with their mobile phone numbers and get linked to their bank accounts. Users can use Verse to send or receive money from others just by providing their phone number and transferring their Verse balance to their bank account.

Verse verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : P2P payments

Website : Verse

Waleteros offers a smartphone app linked to a prepaid card enabling users to receive their salaries or government benefits through direct deposit, or to deposit paper checks by taking pictures of them. Additionally, the app enables users to send money and pay bills in the U.S. or abroad.

Waleteros

verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employee and contractor disbursements, P2P payments, photo check deposit

Website : Waleteros

© 2017 PYMNTS.com all rights reserved 61 If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an Provider Directory update, please head over to our profile submission/update page.

WorkMarket develops cloud-based labor automation platforms. The company enables businesses to create work projects and manage them, hire freelancers, pay freelancers and receive reports with real- time WorkMarket activity data.

WorkMarket verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : Instantly

Services Provided : Employee payments

Website : WorkMarket

Zopa is a digital P2P lending services provider. The company matches people looking for a loan with investors searching for a high rate of return. The process of applying for the loan and receiving the money is entirely digital.

Zopa verticals

GOVERNMENT Corporates Merchants Lenders Insurers Law Firms People Marketplace

Settlement Time : 1 – 3 Days

Services Provided : Loans

Website : Zopa

Feedback If you would like your company to be considered for inclusion in the Tracker’s Provider Directory or wish to have an existing listing reconsidered for an update, please head over to our profile submission/update page.

Ingo Money is the instant money company. Founded in 2001 with a mission to digitize the paper check, our push payments technology enables businesses and banks to disburse instant, safe-to-spend electronic funds from any source to consumers anywhere through more than four billion debit, prepaid, credit, private label credit and mobile wallet accounts. This transformation of traditional payments helps businesses reduce cost and delays while dramatically improving the consumer experience.

The Ingo Instant Payments gateway enables companies and banks to deliver instant, safe-to-spend funds directly into customer accounts. This “push payments in a box” solution offers industry leading benefits, including network ubiquity to reach more than four billion consumer accounts as well as all required compliance and security checks, through one simple API integration. Ingo Money has funded over $10 billion in transactions since launch, and completed the first push payment transaction in the U.S.

Headquartered in Atlanta, you can learn more at www.ingomoney.com.

CMY

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