The process of sending payments to your customers or business partners can be paper-intensive and time-consuming. Digital Disbursements from Fiserv gives you an efficient digital solution for sending customer payments quickly and securely.
Most financial institutions, businesses and government entities need to send payments, such as auto loan funding, insurance claims, refunds and rebates, to their customers, clients or business partners.
Digital Disbursements enables you to send mass payouts via a simple, secure process that needs only basic information from payees. And, payments can be settled into recipient accounts in minutes instead of days.
How? The organization follows established business processes for approving payments, and when payments are ready to be sent, the organization uses an application programming interface (API) to send them. You choose the payment timing, delivery speed and send method; Fiserv manages the payment process.
Digital Disbursements gives you the flexibility to send payments in multiple ways, such as payments to bank accounts, debit cards, social tokens including email addresses and phone numbers, and even paper checks. You choose how to send the payment based on the information you have on your customer and your preferences:
- Bank account: Send payments via ACH or NOW® Network from Fiserv. This method typically settles the next business day or instantly; you choose the delivery speed
- Debit card: Send payments faster over electronic funds transfer networks such as Visa®, or Accel™ from Fiserv. Money is typically delivered in minutes
- Email address or mobile phone number: Send payments without the need for personal bank account information
- Check: Send payments using the same Fiserv print/mail capabilities that deliver more than 250 million checks annually
For more information, listen to "Fiserv Goes Direct With Disbursements" podcast, watch the "Faster Payments with Digital Disbursements" video or read the latest blog, A Better Way to Pay Consumers: Making the Move to Digital Disbursements.
- Easy and flexible: Multiple sending options help you deliver payments the way you prefer
- Faster delivery: Instant or same-day settlement improves recipient experience
- Better customer service: Frictionless experience enhances recipient satisfaction
- Cost-efficient: Reduces paper and mail costs, and provide prompt access to funds in crucial scenarios
- Easy to track: Track payment activity and perform automated reconciliation, reducing manual effort
- Works with you: It's simple to integrate into your existing processes using APIs or file transfers
- Drive adoption: Complimentary marketing tools and the latest consumer insights help you better manage and connect with your customers