Toronto-based fintech startup Pungle announced today it will enable business customers in Canada to offer real-time payment disbursements to their customers via Visa Direct.
This enhanced service offers choice and flexibility for businesses and customers to access their funds in real-time, instead of waiting for cheques and electronic funds transfers (EFT) to clear.
Pungle’s business payments solution will reduce friction for businesses making disbursements to customers, employees, and suppliers.
Visa Direct, Visa’s real-time push payments platform, allows companies to leverage Visa’s global network to transform the way they make payments to businesses and consumers. The immediacy of the disbursements offer a differentiating choice for businesses, and allows money to move as quickly as business does.
“We are very excited to be early adopters of real-time payments using Visa Direct in Canada,” said Paul Birkness, CEO of Pungle Inc.
“As a startup, we are always keen to work with partners who understand our business goals and help us deliver enhanced solutions to our business customers.”
“Visa is committed to supporting the thriving fintech sector in Canada, so it’s exciting to see a Canadian startup embracing faster payments with Visa Direct”, said Brian Weiner, Vice President and Head of Product, Visa Canada.