Sioux Falls, S.D., Sept. 22, 2020 /PRNewswire/
-- MetaBank,® N.A. ("Meta") today announced the
expansion of its faster payments platform to include processors
Finix and TabaPay. Meta is committed to leading the enablement of
payments technology, and this announcement marks its latest
expansion within the faster payments space. With this addition of
Finix and TabaPay, Meta is giving its partners numerous options to
process faster payments through Mastercard Send and Visa Direct.
Each of these options can help improve payment experiences,
strengthen business relationships and streamline
operations.
Meta is a national bank, a subsidiary of Meta Financial
Group, Inc.® (Nasdaq: CASH) and a leader in providing
innovative financial solutions to consumers and businesses
throughout the country. Meta launched its faster payments platform
in 2019. One of Meta's key strategic priorities is to grow its
faster payments solution across all disbursement
categories.
Finix builds payments infrastructure for
vertically-focused software providers and fintech companies. With
Finix, businesses can own and monetize their entire payments
experience without having to build an in-house system from scratch
or rely on third-party payment service providers.
TabaPay is a leading card payments processor for financial
technology companies who want a simple and comprehensive solution
to disburse, collect payments and fund accounts in real
time.
Businesses that offer faster payment options for rebates,
refunds, credits, insurance benefits, tax refunds and more have
seen numerous benefits — in fact, research shows 66% of
payment managers believe this innovation gives their companies a
competitive advantage.[i] Further, with
the adoption of faster payments, businesses see a savings of up to
$6 per replaced
check.i
"We are thrilled to add Finix and TabaPay as processing
options on our faster payments
platform, and to work alongside them to continue to pave
the way to faster payments ubiquity," said Sheree Thornsberry, Meta EVP and Head of
Payments. "Consumers are demanding seamless, faster payments across
the board, and our partners wanted choices for processing these
payments. We responded to that demand with more options than ever
before, so that they can help businesses and consumers receive
funds efficiently and effectively, all via the processor of their
choice."
"We're excited to partner with Meta, a leading provider of
payments services, to help build out their faster payments
platform," said Richie Serna, Finix
CEO and Co-Founder. "Faster payments enable merchants to respond
with speed and flexibility to new market demands. With Meta, we
will bring speed and innovation to even more businesses and
consumers."
"Meta has a robust legacy in payments, with deep industry
relationships and the ability to build highly scalable,
customizable programs," said Rodney
Robinson, TabaPay CEO and Co-Founder. "We are pleased to
join their faster payments platform, and to partner with them to
continue making these industry-leading solutions widely
available."
About MetaBank, N.A.
MetaBank, National Association, a national bank ("Meta"),
is a subsidiary of Meta Financial Group,
Inc.® (Nasdaq: CASH),
a South Dakota-based financial
holding company. Meta is a leader in providing innovative financial
solutions to consumers and businesses in under-served niche markets
and believes in financial inclusion for all. Meta's commercial
lending division works with high-value niche industries,
rapid-growth companies and technology adopters to grow their
businesses and build more profitable customer relationships
nationwide. Meta is one of the largest issuers of prepaid cards in
the U.S., having issued more than a billion cards in partnership
with banks, program managers, payments providers and other
businesses, and offers a total payments services solution that
includes ACH origination, wire transfers, and more. For more
information, visit
the MetaBank website.
About Finix
Finix is a smart way for businesses to own, manage, and
monetize payments. Built by payments experts from Klarna, PayPal,
and Worldpay, Finix is trusted by companies like Lightspeed POS
Inc. and Clubessential to build and scale their payments
infrastructure. Headquartered in San
Francisco, with an additional office in Cincinnati, Ohio, Finix is a privately held
company funded by Acrew Capital, Activant Capital, Bain Capital
Ventures, Homebrew, Insight Partners, Sequoia Capital, Visa, and
others. To learn more, visit
www.finixpayments.com.
About TabaPay
TabaPay, a leader in card payments processing for
financial technology companies, helps clients easily disburse and
collect payments in real time. TabaPay provides a simple unified
API to support a range of use cases, offers direct connections and
intelligent least-cost routing across 10 card networks, and boasts
one of the industry's best approval rates. TabaPay is trusted by
over 1,000 companies and processes over $9
billion annually. To learn more, visit
www.tabapay.com
Investor Relations:
Brittany Kelley
Elsasser
Director of Investor
Relations
605-362-2423
bkelley@metabank.com
Media Relations:
mediarelations@metabank.com
[i] Forrester and Visa, "The Total Impact™ of
Real-Time Funds Disbursements vs. Traditional Methods" June 2020
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SOURCE Meta Financial Group, Inc.