Pathward, N.A., a U.S.-based financial empowerment company driven by its purpose to power financial inclusion, announced the expansion of its partnership with TabaPay, a money movement platform for merchants and leading fintech brands.
The firms first announced partnering in 2020 and “the deeper alliance provides added money movement capabilities to Pathward’s partners as they seek to integrate faster payment solutions to meet evolving consumer expectations.”
By connecting to the TabaPay platform to perform push and pull payments for its partners, Pathward aims to “build on its expansive Banking as a Service offering to provide fintechs a more complete end-to-end solution.”
Current capabilities include payment, issuing, acquiring, processing, credit, and tax solutions.
Pathward’s Divisional President of Banking as a Service, Will Sowell, explained:
“Leading players from across the fintech ecosystem are looking for an easier way to move money. TabaPay is one of the leading payments platforms providing a frictionless path to push and pull funds to make payments instantaneous. Pathward looks forward to expanding our partnership as we jointly drive toward making the financial system accessible for more consumers and commercial arrangements regardless of how they transact.”
Through the TabaPay platform, Pathward’s partners will be “able to perform account-to-account transfers, corporate disbursements, account loads and unloads, and payouts instantly.”
The company’s all-in-one processing platform is “designed to support any use case and payment medium.”
With TabaPay, customers gain access “to a comprehensive suite of payment solutions that simplify processing, liquidity management, reconciliation and settlement, and provide least cost routing, among other processes critical to the payments ecosystem with a unified API.”
Manoj Verma, Co-founder and CRO at TabaPay, said:
“Partnering with Pathward, a leading bank to fintech firms, payfacs, ISOs, and other merchants, aids in our mission to make money movement instant. Together, we can empower their partners across all industries with faster payment options and best-in-class rails that meet the ever-evolving needs of today’s consumers.”
As noted in the update, TabaPay claims it is “a leading money movement platform for scalable, resilient, and cost-efficient instant payment solutions.”
TabaPay processes over 1 million transactions daily “on behalf of more than 2,500 clients in the U.S. and Canada and provides merchant acquiring, instant payments, and services across the payments ecosystem.”
Through its unified API, customer “gain direct access to 15 banking partners, 15 network connections, and full-stack payment processing which, enable flexibility while eliminating redundant processes.”