Product Spotlight: Instant Payments
Don’t Make Your Drivers Wait to Get Paid
Grow Driver Loyalty and Boost Revenue with Real-time Payment to Any Account
Attract & Retain Drivers with On-Demand, Real-Time Payments
For your drivers, the world moves at smartphone speed, but their money does not. ACH and direct deposit payments are slow and outdated, making drivers wait and dulling your competitive advantage. With Ingo Push, our instant money solution, you can pay drivers on-demand in real-time to any debit, credit, prepaid or digital wallet account including PayPal, through a simple API integration.
Improve the Financial Lives of Drivers & Boost the Bottomline
Ingo Push helps you improve the financial health of drivers by giving them the control and flexibility to meet their personal cash flow needs with instant, on-demand payments. Industry studies report that 65% of those living paycheck to paycheck want their wages through instant payment1. With 85% of gig workers saying they would work more if they could get paid instantly2, and one third of gig workers willing to pay a fee in order to get paid faster according to a recent Visa study – instant payments are a no brainer.
1. “US Funds Disbursements: Moving Towards a Frictionless Future”, Aite Group study commissioned by Ingo Money, 2018.
2. PYMNTS Disbursement Tracker, December 2017
Efficient and Cost Effective
- Pay drivers in minutes, on-demand – that’s 1–3 days faster than traditional payment methods
- Go beyond pre-paid and debit cards – let drivers choose where to receive payment including credit, debit, and prepaid cards, bank accounts or mobile wallets such as PayPal
- Attract new drivers with payment options that don’t require a bank account
- Improve Driver LTV – add a new revenue stream with a minimal instant payment fee or reward your most loyal drivers with free instant payment
- Fast and easy implementation with a single API
Be Up and Running in 90 Days
Our Instant Money as a Service is a network of networks reaching nearly every type of account including debit, prepaid, credit card and mobile wallet accounts, and even offers cash disbursement capabilities. Best of all, it combines everything you need – compliance, risk management and routing intelligence – with payments instruments that consumers already know and use with no additional bank forms or account numbers to memorize. From technology services and processing support to intelligent routing to ensure payments arrive fast as promised, our modular and configurable services enable you to pay anyone, anywhere instantly with complete confidence and ease.
What makes a great B2C push payments solution?
Built-in acquiring and settlement bank sponsorship plus compliance controls on a mature, regulatory-compliant platform
Multivariate user authentication, account verification and transaction validation, with 24/7 transaction and system monitoring
Independent, multi-network connectivity to almost any debit, prepaid or credit card, mobile wallet and cash pick-up location
Intelligent BIN routing and automatic re-routing via alternate connections minimize transaction failures and maximize speed
End-to-end transaction processing visibility and support for customer servicing and dispute resolution
Why Instant Payments Are Gig Work’s DNA
The gig economy has been getting no shortage of attention. In the last few years, a nearly uncountable number of articles and editorials have been written, exploring the concept of whether gig work is the future of labor.
Getting Started with Push Payments
A recent study* by Aite Group finds demand for instant push payments is high with 65% of customers stating it is important to be able to receive instant payments from businesses that owe them money. That number soars to 86% for small businesses.
Study: Making B2C Disbursements Faster
Review the key findings from a recent Aite Group study on the demand for instant payments – the business opportunity to be sizeable. The study reveals the key features consumers and SMBs prefer, as well as their willingness to pay a fee for instant payments.
“Ingo Money has a mature and sophisticated push payment service”
-Bill Sheley Head of Global Push Payments, Visa
Interested in Instant Payments for Your On Demand Drivers?
Complete the fields below to download the full product sheet.