SIOUX FALLS, SD – (September 6, 2023) - Central Payments, architect of the award-winning Open*CP® Fintech API Marketplace and leading payments solution provider, announces the launch of an innovative payout platform, PayCP. PayCP’s low-cost and quick payouts are two differentiators in helping companies get money to their customers without hassle.
“PayCP is a white-label, turnkey solution allowing companies to easily give customers a choice of how to receive a payment,” said Nikkee Rhody, Executive Vice President and Chief of Strategy at Central Payments. “In less than 30 days, we create a branded instance to an extensive portal where partners can initiate and track payouts, review historical and analytical insights and their customers geta fully-branded, simple experience to accept the funds in a manner of their choice.”
The initial phase of PayCP includes the following payments options: a virtual Discover® Prepaid Card, a physical Discover Prepaid Card, real-time push to debit card using Mastercard Send® and ACH bank transfers. Central Payments has a robust roadmap planned for the remainder of the year into 2024 with enhanced payment options and payout situations.
“Some of the use cases that we can easily assist with from launch include companies wanting a quicker, digital way to send rebate, loyalty, incentive, or rewards funds to their customers,” said Rhody. “We can help partners ditch the mailed paper check and do it all digitally, safely and cost effectively.” Learn more at PayCP.com.
About Central Payments
Central Payments is a U.S.-based payments company built by bankers to connect the world by Making Financial Experiences Better®. The company solutions, builds, and supports payments products through its award-winning, proprietary Open*CP API Marketplace, which gives partners a single-source access to the entire payments landscape. The company also operates Falls Fintech, its startup fintech accelerator and produces Fintech Brews, a podcast devoted to helping bridge the gap between banking, startups, and the entire fintech industry. Visit Central-Payments.com for more information.
The PayCP Discover Prepaid Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Discover Network. Discover and the Discover acceptance mark are service marks used by Central Bank of Kansas City under license from Discover Financial Services. Card can be used everywhere Discover is accepted within the US. Certain fees, terms, and conditions are associated with the approval, maintenance and use of the Card. Consult your Cardholder Agreement. Card funds are not FDIC insured. No Cash or ATM Access. For transaction and balance information, and customer service, call 1-844-404-0244.
The PayCP Discover Prepaid Virtual Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Discover Network. Discover and the Discover acceptance mark are service marks used by Central Bank of Kansas City under license from Discover Financial Services. Card can be used in-store where Discover and Apple Pay®, Google PayTM, and Samsung Pay® are accepted and at every internet, mail order and telephone merchant where Discover is accepted in the US. Certain fees, terms, and conditions are associated with the approval, maintenance and use of the Card. Consult your Cardholder Agreement. Card funds are not FDIC insured. No Cash or ATM Access. For transaction and balance information, and customer service, call 1-844-404-0244.