Trice offers a rapid path to real-time payments, uniquely designed for BaaS, fintech, banking, payments platforms and credit unions.
AUSTIN, Texas, Feb. 14, 2024 /PRNewswire/ — Today, Trice announced its launch as a technology provider and real-time payments gateway for the RTP® network from The Clearing House, with TransPecos Banks as Trice’s partner for the bank’s real-time payments. Trice’s future-proof modern payments gateway is built specifically to support real-time account-to-account payments and deposits with scalable infrastructure, streamlined onboarding, and simplified operations; making it easy for digital wallets, investing apps, lending apps, payment providers, and fintech’s to move money.
“Becoming a technology provider that offers connectivity to the RTP network through depository institutions is a tremendous achievement, and we’re beyond grateful to The Clearing House and TransPecos Banks for helping make it possible,” said Doug Yeager, CEO, and Co-founder of Trice.
Trice, a Third-Party Service Provider, now provides connectivity to the RTP network for faster payments, which is accessible to U.S. depository institutions and includes approximately 90% of U.S. demand deposit accounts through many banking technology providers. Trice’s APIs and cloud-native platform make it easy for development teams of all sizes to incorporate real-time payments for Account-to-Account (A2A) bank deposits and payouts, enabling businesses to integrate functionality into their platform’s current tech stack and be up and running in as little as 2-3 weeks, creating seamless payment experiences for clients and their customers.
“We’re excited to work with innovative companies such as Trice who are rethinking traditional models to power a new generation of payment experiences,” said Keith Gray, Vice President, Business Development at The Clearing House. “We’re focused on opportunities to continue to grow the RTP network ecosystem, including many opportunities with innovators and technology providers such as Trice.”
The RTP network, which enabled more than 74 million transactions that moved $39 billion in Q423, is seeing increased volume as more financial institutions use the network’s real-time payments capabilities in innovative ways to solve real-world challenges.
“Becoming an RTP® technology provider is a rigorous process,” said Linda Loof Head of BaaS Partnerships, at TransPecos Banks. “Platforms such as Trice are leading a real-time payments revolution towards better money movement, and TransPecos Banks is committed to helping drive this innovation.”
Trice’s API-first, real-time payments-as-a-service platform is now live, supporting multiple use cases for A2A, including instant deposits, balance top-ups, and recurring transfers. For payouts, financial institutions can use Trice’s platform to send funds to RTP participating banks and credit unions within seconds—24/7, supporting many use cases, including digital wallet cash outs, loan disbursements, faster merchant settlements, supplier payments, gaming, marketplaces, content creators, contractors, and gig workers, and earned wage access.
“We’re thrilled to help other fintech’s and payments innovators get to market faster,” said Yeager. “Trice provides instant deposits, fast bank transfers, and quicker access to funds through a simple API integration. We’ve built the connections to enable connectivity for financial institutions to the RTP network, and FedNow connectivity is coming later this quarter, so our clients don’t have to.”
For media inquiries, product demonstrations, or further information, please contact [email protected].
About Trice:
Committed to reshaping the landscape of financial transactions, Trice leverages innovative technology to provide a seamless, efficient, and secure API-driven platform for real-time payments. With a mission to enable high-impact use cases for real-time bank payments, Trice is at the forefront of changing the way businesses and consumers experience the speed and convenience of modern payment solutions. For more information about Trice, please visit www.trice.co.
About TransPecos Banks, SSB:
TransPecos Banks is a 100 year old community bank with a focus on preserving the value of community banking and facilitating important financial technologies and providers such as Trice to assure safety, soundness and best execution for its customers and partners. The Bank continues to develop avenues for banks and fintechs to work together in a fully compliant manner for the benefit of the industry and their customers. For further information, please contact: Linda Loof, [email protected].
SOURCE Trice Technologies Inc.
