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Deluxe will digitize real-time deposits into ACH or into any number of other payments acceptance mechanisms that the hospital might want — across prepaid cards, PayPal, Venmo, etc. Such online platforms, he added, can eventually revolutionize B2B payments, and even B2C and C2B transactions. You completely remove that paper.
Somewhat ironically, these are some of the same players who now use the card rails to push payments in real time between senders and receivers on their respective platforms – Square Cash App, Venmo and Apple Pay Cash – and pretty cheaply, and very securely, across the debit card rails.
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