Everyone likes the idea of faster, streamlined payments, especially when dealing with an insurance-related mishap.
To that end, insurance-as-a-service company Setoo signed on with a new collaboration between SafeCharge and Visa’s real-time push payments platform Visa Direct to help power speedier payouts, as detailed in a July 11 press release.
Setoo is among the early innovators in the insurance industry adopting the faster payments technology. The transfer flow was created for ease of use as well as security. After payment instructions are sent by Setoo to SafeCharge, a single authorization will be sent to Visa. The issuer can post funds to the cardholder’s account on receipt of authorization.
SafeCharge is focused on making payment innovation available as fast as possible for businesses to embrace fast commerce transformation.