Transcard is a FinTech company focused on B2B and B2C Account-Based Payment Solutions and acts as both a Processor and Program Manager. If your organization wants to create, sell, and manage a Program, we can process the transactions on your behalf. If your organization is primarily focused on sales and wants to leave the operational aspects of the Program to someone else, Transcard can assist as the Program Manager.
Transcard partners with a variety of organizations and each has specific needs. Using our open API sets, Transcard has created out-of-the-box applications used by organizations of all sizes. These white label applications can be branded with your logos and designs and allow for rapid deployment. If you desire more flexibility and customization, you can bring our technology into your existing user interfaces by connecting to our Open APIs.
Absolutely. With our open APIs, you can easily bring our functionality into any new or existing back-office or user interface - mobile or web based. Transcard’s SSO integration allows for a single sign-on user experience and a fluid, intuitive design flow. (Transcard maintains user financial and account information within our environment, mitigating your need for PCI certification.)
Our clients' favorite feature of the user portal platform is its ease of configuration. Transcard is regularly adding new technologies and disbursement capabilities and you can turn each method on or off for individual payees or on a per-program basis.
Transcard partners with over 250 financial institutions. A select number of these banks act specifically as third-party issuing banks for our clients. Transcard will work with you to select the most appropriate partner bank based on asset size, program expertise, and any other criteria necessary. If you are a financial institution, Transcard can easily enable you to become an issuing bank for all programs in as little as 30 days.
All customer service is handled by a highly qualified team of Transcard employees in our US based headquarters and is available 24/7. In addition, each client is assigned a dedicated Success Manager who will work as your primary contact during implementation and post-launch.
Transcard has a dedicated fraud team working in the background for all partners to handle any issues that arise from your program. Real-time fraud tools and reporting are at their disposal and analyze our entire platform looking for potential problems to alert you immediately of any concerns. We are happy to provide an extensive Security and Fraud overview document if needed. Additionally, to offset the risk to our clients, all sensitive payee account information is no longer stored on your servers but on our secure user portal platform. Our platform is passes audit by the IRS, OCC, and other entities in addition to being SSAE and PCI certified.
Even though there are many disbursement platforms on the market today, virtually all of them offer only a single (i.e. check) or a few (i.e. check and ACH) disbursement options. Transcard's platform is a self-service solution that currently manages over 10 disbursement options with more options being added every year. At Transcard, we understand business transforms rapidly and want to accommodate your changing needs quickly. We will turn on the appropriate tools as needed so you can easily stay at the forefront of payments technology after implementing our system. For example, an overpayment refund of $5.13 would likely not be cashed if sent as a check, creating unnecessary escheatment cost. If that payment were sent via Transcard's platform, the end user could disburse to their bank account via their debit card instantly, put the money on a virtual card to use it online instantly, or even deposit it into their bank account via ACH - all of which lessen the likelihood of additional escheatment costs. As our client, you have the ability to add more technology options easily as Transcard acquires them without the hassle of juggling multiple platforms.
Transcard's platform has many unique aspects that we’d be happy to discuss by phone or in an online demo that is tailored to your needs. Some key functionalities include:
Ability to attach virtually any type of document to the payment (i.e. claims, EOB’s, releases, statements, etc.)
Capability to add confirmations and unlimited levels of digital signatures before the payment can be disbursed
Added workflow rules for recurring payments that automate the disbursement process and require no interaction from the payee
A Payment Account is an FDIC insured account, owned by our client with our client’s funds in it. Funds reside with the Transcard's bank partner. Funds are typically ACH or wired (other options may be available) into this account and become “good funds” once they in this account, meaning they are immediately ready for disbursement.
Transcard's platform can send disbursements to both mobile and web user interfaces created by Transcard or via open APIs integrated directly into your existing applications.
For standard programs without the need for API integrations, implementation can be as short as 30 days. With customization and extensive use of our open APIs, the timeline could reach 120 – 180 days.
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