Quickpay Launches Live Funding Service with Real Time Payment Capable Banks

Quickpay Funding launched a live service that speeds up funding to small and mid-sized companies throughout the country. This service offering expands Quickpay Funding's value proposition for small businesses in a variety of industries, including Hispanic-owned businesses.

After coordination with the team at Bank of America, a member of the real time payment bank network, Quickpay Funding became the first factoring company in the country to offer a live 24/7/365 funding service to all its clients through the implementation of real time payments (RTP) technology. This feature will provide better cash flow by allowing all the companies factoring their invoices with Quickpay Funding to receive confirmed funds in their bank accounts immediately upon processing their invoices, including on nights, weekends and holidays.

“Quickpay Funding is very proud to continue setting the pace and raising the service standards for the factoring industry,” Juan Estrada G., president and CEO of Quickpay Funding, said. “Over 65% of our existing client portfolio already have bank accounts with members of the RTP banking network. This allows us to dramatically improve the delivery time as funds are deposited and available to our clients immediately after processing their invoices.

“We have seen the trends and feel that RTPs are becoming the new standard in the U.S. for payment processing. We look for ways to help our clients and launching RTPs became a very easy decision. It will change the way companies do business.”